I wanted to share my post today at the Technician’s Edge Column at the GreenFaucet.com website, which addresses the key support level broken today in the Euro Index. Today’s post is entitled “Euro Breaks Support: Downside Targets” which addresses why the broken support level is important, and what potential targets to play for which might…
This is a third in an unexpected series of posts on the similarities/differences between the October 2007 stock market peak and the current rally to new recovery highs.
Thank you to another astute reader who mentioned that the VIX – the CBOE Volatility Index – is at the same level it was at the October 2007 peak.
I’ve received quite a few responses from posting on the “Strange Similarities Between the 2007 Peak and Current Rally High” yesterday evening.
I wanted to show a chart based on a comment by a reader who highlighted that, although the price patterns were similar, the readings from internals – specifically those of the net new highs – were slightly different.
In another “Hmm, That’s Interesting” post regarding prior market historical pattern, there is an eerie similarity in the rally that ended with the market peak in 2007 and the current rally into 2010. Thanks to a blog reader for pointing out this comparison to me. Let’s take a look at the S&P 500 and Dow…
I’m pleased to announce that the Money Show.com Virtual Studio will be hosting a brief Live Chat and Q&A with me Tuesday, March 23 at 1:00pm EST / 12:00 CST entitled: “Quick Tips on Enhancing Breakout, Reversal, and Retracement Trading Strategies.” Click the image for more information: I’m excited to participate in this new “Virtual…
One thing I’ve been trying to highlight lately in these intraday ‘update’ posts is the repetitive character or nature of some of the price patterns that have occurred… which have been virtual road-maps to the future. And they always say “Those who do not learn from the mistakes of the past are doomed to repeat…
I always enjoy highlighting ‘mirror image’ or ‘measured move’ price patterns on charts, and we have the potential for a resolution to the downside to test prior support if the current price structure completes the ‘reflection’ portion of the pattern.
Main idea – let’s watch the price closely over the next few days to see if this chart pattern completes as expected:
When assessing the strength or weakness of a recent market move – such as the ‘non-stop’ rally we’ve seen so far in March – it’s important to look beneath the price to see the signals from key Market Internals… and that’s what this post does.
Let’s take a look ‘under the hood’ to see how market internals have shaped the recent rally and what might be in store ahead.
I wanted to share another “Chart Art” post using two advanced technical (charting) methods on the S&P 500, which has been containing the recent rally quite nicely within its bounds.
Let’s take an updated look at the Gann “Square of Nine” trendlines and the default Andrews Pitchfork Tool:
While the title might not sound that interesting, it can be important to watch “Angular Momentum,” or in simple terms – the change in the angles of rising trendlines – of the current SPY and S&P 500 intraday charts, which highlights an important point about the recent rallies.
Let’s take a look at the recent “Angular Momentum” chart and see what I mean: