The support and resistance levels for the Major Indices noted in my post on January 10th still apply. In that post, I also made reference to a 10-Day 30-Minute chartgrid of the YM, ES, NQ & TF and said that any repeated...
Read MoreSo far the market has disappointed the bulls by not building on the morning gains, but at least the market hasn’t gotten away from them. The bears, as has been the case since December, has had a hard time holding on to its...
Read MoreEconomic Reports Due out (Times are EST): Empire State Manufacturing Survey (8:30am) Premarket Update (Updated 9am eastern): Futures are strong on the heels a strong China GDP. Asian markets were up from 0.9% up to 3.2% Europe...
Read MoreEarnings season moves into full swing this week. The last earnings season was quite good compared to expectations. In my opinion, it was the primary driver of the strong October ’11 broad market rallies. Now, as we...
Read MoreHere are two stocks in the Coal sector that have very similar patterns- descending triangle patterns that are have either just broken below support or are near it. But they have more in common looking at the longer-term charts....
Read MoreBelow are Weekly charts during a one-year time period of Gold, Oil, Copper and Silver with Bollinger Bands, 50 sma (red), monthly Volume Profiles (horizontal yellow lines are POC), and a one-year Volume Profile at the right edge...
Read MoreI’ve been working on this trading strategy for a while now, but really started to focus on it solely in the past week. Here are some charts showing the moves and a brief explanation. 1. Have either 4 screens or set your 1...
Read MoreFurther to my post of January 11th, I have my answer…it would appear not. Based on Trade Balance data released today, the trade deficit widened more than forecast…attempts to move higher have progressively failed...
Read MorePattern: Bear Flag (bearish pattern) Flag Pole: -2.60— The flag pole started on Jan 4th after LLY said it would miss earning estimates. This caused strong selling as LLY declined 6%. This flag pole measures 2.60 Flag: The...
Read MoreMultiple daily hammer candlesticks on the indices yesterday, a sign of weakness and hesitation. The support trendlines on SPX and ES now also showing signs of wear and I think the topping process has started for the current wave...
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