Happy Mother’s Day!  Let’s take a quick view at the Dow Jones Index, along with two key sectors which I’ll put in focus today - Materials and Healthcare.
First, the Dow Jones ($INDU):

The market failed at the resistance provided by the (now) falling 200 day moving average, and from prior support at the 13,000 level (which […]

Do you know where commodities have been lately? Does it matter to the market? Let’s take a look at a few select commodity indexes to see the new highs made on some of these indexes today.
First, the Goldman Sachs Commodity Index:

Notice the extreme price movement that created the surge which took this index […]

I was quite impressed by the strength of the bears in swiping the US Indexes lower on Wednesday, giving the bulls only a marginal chance for any sort of retracement.  I recommend saving today’s charts for the files under “strange price action” for future review.
Let’s look first at the DIA:

Price made its intraday high just […]

Are the Indexes at Support or Resistance?  Today’s action would lend to the “Resistance” camp, but let’s take a closer look.
Let’s start with the daily chart of the Dow Jones Index:

With this chart, I have Resistance plotted via two areas:
1.  The declining 200 day moving average
2.  The horizontal trendline via prior support/resistance
I have Support plotted […]

Wow!  What an interesting day it was for active traders.  Yet another gap was filled and a sort of unexpected trend day emerged.  Let’s look!
Dow Jones ETF (DIA) 5-minutes

Today opened with a sharp intraday gap down, which spent the first 10 minutes continuing downward.  I prefer to wait for 3 bars (15 minutes) before entering […]

Microsoft officially withdrew its offer to acquire Yahoo, after Yahoo continued to hold out for a higher offer.  The fall-out from this decision has already begun.
AP Business writer Michael Liedtke reported Yahoo (YHOO) stock plunged 15% this morning, yet it is recovering some of its gains.
“The sell-off wiped out nearly half the gain in Yahoo […]

Apple Inc (AAPL) continued its winning streak into May after rising from $120 in March to $180 in May. It’s rare when we see a stock carve out the pattern Apple has, and so we need to look at this pattern to learn from it now.

After plunging almost 50% in early 2008, price built […]