Today we will analyze the index AMEX COMPOSITE INDEX USA (XAX) for internet stock trading in the INDICES stock market,
Stock Technical indicators to notice in AMEX COMPOSITE INDEX USA (XAX)
1- Last bearish trend was from 2,424.03 $ (1/22/2014) to 2,258.08 $ (2/5/2014) a 165.95 $ move 2- The current bullish trend started from 2,258.08 $ at 2/5/2014 and is currently trading at 2,564.25 $.
3- According to ADX Indicator, the trend is currently strong bullish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
AMEX COMPOSITE INDEX USA (XAX) Short term stock chart patterns for internet stock trading :

4- The Index formed Double Top Pattern at 2,424.030 that failed, and formed a support .
5- The Index was resisted by a resistance line, identified by two points: 2,424.030 and 2,426.200 that was broken up at 2,452.860 transforming into a supporting line.
AMEX COMPOSITE INDEX USA (XAX) Mid term stock chart patterns for internet stock trading :

6- The Index was supported by a support line, identified by two points: 2,258.080 and 2,202.410, and is currently supporting at 2,265.931.
AMEX COMPOSITE INDEX USA (XAX) Long term stock chart patterns for internet stock trading :

7- The Index formed Double Top Pattern at 2,490.150 that failed, and formed a support .
8- The Index was supported by a support line, identified by two points: 2,202.410 and 2,175.920, and is currently supporting at 2,220.203.

Stock Trading Conclusion:
AMEX COMPOSITE INDEX USA (XAX) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : .
Stock Support levels : 2,507.17, 2,491.99, 2,447.29, 2,420.62, 2,419.07, 2,411.17, 2,375.04, 2,265.93, 2,258.08,.