Now that we’ve had a few days to digest the Libya fallout and surge in oil prices, let’s take a look at the triple-index update for the interestingly simple daily chart reference levels that mean the difference between “simple pullback” and “early trend reversal.” Let’s start with the S&P 500: Let’s start with a general…
I’m a big fan of monitoring price swings with market internals, such as TICK, Breadth, and Volume Difference, as these can give you early warning signs of a potential short-term turn in price. That was the case two times in the short-term frame – so let’s turn now to our updated SP500 and Market Internal…
If you are just returning from a vacation this three-day weekend, you may be shocked to find high volatile moves in the futures markets. Let’s take a quick end-of-holiday look at four cross-markets to see the fall-out (big moves up and down) as a result of violence spreading through Africa – namely Libya. While the…
If you wanted to attend one of the largest gatherings of traders at the New York Traders Expo, but haven’t registered yet, there’s still time! The big New York Traders Expo is quickly approaching – it’s February 20th to 23rd and you can learn all about the details via the Expo Homepage. Here’s a quick…
Did you learn the lesson I showed this Wednesday entitled “Using TICK to Forecast Intraday Reversals?” If you didn’t, here’s yet another chance to learn the important lesson – as history repeated the set-up/pattern almost exactly today that formed on Wednesday. Let’s look at today’s chart as another example of this critical concept: Click for…
The topic of QE2 and endlessly rising markets has been the talk of the town lately – and for very good reason. Let’s take a quick objectively look at some of the cross-market charts with a focus on trend and percentage change since the July period, including August 27th when the first rumors of QE2…
I wanted to document what the TICK had to say about today’s sharp reversal and lunch-time market drop. The TICK gave a classic “One-Two” Punch Warning Signal… and if you missed the signal, take a moment to look at the chart of the SPY and TICK and learn what the TICK had to say and…
I’m pleased to mention that Club EWI’s newest promotion is a full, free digital copy of the classic Elliott Wave Principle book/text from A.J. Frost and Robert Prechter. I’m surprised that they would offer the entire book as a give-away for Club EWI members (free registration) so I wanted to do a link post mentioning…
The popular Emerging Markets ETF – symbol EEM – is currently sitting on key weekly and daily support, or more specifically, a key turning point in structure, so let’s take a look at this level and the immediate targets to watch depending on what happens here at this key point. First, the Weekly Chart shows…
Hmmm – if you just listened to the headlines, you would figure 10-year Note Yields would be going lower due to the QE2 Treasury Purchasing Plan from the Federal Reserve. But not only is that NOT what happened, but the charts (technical analysis) were giving clear buy signals (rising yields) all along the way. Let’s…