Pre-Market Update- COMPQ, DAX, IYZ, DJW, REGN, & TECH

NASDAQ Intraday update (COMPQ)- Daily Chart
On the daily chart you can see that the COMPQ has broken out of the symmetrical triangle pattern to the upside. Today the COMPQ is up 0.88% at 2307.18. The COMPQ could go up a 100 points from here. Expect volatility to pick up as the COMPQ tries to clear the down trend line. The indicators and oscillators are still bearish but showing signs of strength. Avoid Gold and Oil stocks, they are your highest risk sectors. However we still hold LSS and MPET. Stay with the biotech's and the suggested portfolio stocks. Buy the dips and do not fight the bullish trend.

German DAX Composite (DAX)- Daily Chart
The overseas markets continue to rally and are on fire. The FTSE, DAX and the French CAC 40 Index (CAC) continue to out perform the US markets and make new 52 week highs. The DAX is up 0.76% today at 5915.15. As you can see on the daily chart, the DAX has traded in a nice uptrend channel. Indicators and oscillators are bullish. The European Markets continue to make new highs. This chart tells you that the place to be is in stocks and on the long side.

Telecom iShares (IYZ)-Daily Chart
The daily chart of the IYZ illustrates that it has broken out of a large symmetrical triangle and is forming a nice bull flag. Furthermore, the monthly chart of the IYZ has the largest volume in it's trading history. The IYZ looks like it is going to $30.00-$35.00. If this telecom ishare is looking this bullish and all the time frames look good even if it does a minimal Fibonacci retracement it is going to the $30.00's. Therefore, if the is such strength here, why not look at some of the better performers in this sector. As the nasdaq starts to prove itself, there should be some good set ups in this sector.

Dow Jones World Stock Index (DJW)- Daily chart
What is going on with the world. The DJW is at new 52 highs. The DJW is saying that all sectors are acting well. Banks, brokerages, transportation, biotechs, and utilities and they are leading the market higher. The charts are bullish. The only sectors that are looking ugly are the commodities.

Regeneron Pharmaceuticals, Inc. (REGN)- Daily Chart
The daily chart illustrates that it is in a slim jim pattern and looks like it is getting ready to breakout. Indicators and oscillators are bullish. Price target is short term in the low $20.00's and longer term in the $40.00's.

Techne Corp. (TECH)- Monthly Chart
The monthly chart of TECH illustrates that it is in a strong bullish trend. This may be a possible new play in the future. Indicators and oscillators are bullish.