- Technical Market Commentary -

October 5, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Whole Foods Marketing (NASDAQ: WFMI) have been trading mostly sideways since reaching 2010 highs at $42.50 back in May, but they are in a bullish pattern at this time. Since May, WFMI has been hitting lower highs in its rallies, and higher lows in its declines. If you draw a line through the rally closing highs and the decline closing lows, you get a “pennant” pattern.

Typically when a stock breaks out of such a pattern it continues in the direction of the break. Also, stocks usually break in the direction of the previous major trend. In this case that trend was up.

Currently the upper declining trend resistance line is at about $37.00 a share. The rising trend support line is at about $35 a share.

(Go to http://www.financialwire.net/2010/05/01/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby for more of Kollar’s commentaries.)

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the combined NYSE, AMEX and NASDAQ 25 most actives and combined NYSE, AMEX and NASDAQ greatest percentage losers and greatest percentage winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Go to http://www.financialwire.net/2010/10/05/vol-ldr-rsrch-25/ for today’s NYSE-AMEX-NASDAQ summary.

The FirstAlert(tm) Morning Digest lists economics calendar events, earnings announcements, financial community conferences, company presentations and more. Go to http://www.financialwire.net/2010/10/05/fa-am-digest-6/ for today’s The FirstAlert(tm) Morning Digest summary.

==========

**FirstAlert(tm) is underwritten by Investrend Communications. Today’s Investrend featured partner is Marshal Shichtman & Associates, P.C. –  Mr. Marshal Shichtman has served as council for Investrend Communications in various capacities since 2001. Mr. Shichtman is now collaborating with Investrend to provide a unique independent equity research product, which includes a specialized component particularly focused on assistance in best practices, filings, reporting and good governance. For a preferred introduction to Mr. Shichtman and/or Investrend’s specialized program, write to resources@investrend.com with “Shichtman Introduction” in the subject line.

==========

FirstAlert(tm), published exclusively by FinancialWire(tm), was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information. The opinions expressed in FirstAlert(tm) do not necessarily reflect the opinions of Investrend or of FinancialWire(tm).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” webpage (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[ssryrsyr] [frstlrtrlts] [frstlrtdlycmmt] [cmmtry] [mrktqr] [tchnlf] [anlytcl] [kllrfby] [exctrdfnd] [idxsxdi]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.