Afraid to Trade – Page 268 – Helping Traders Overcome Fears with Corey Rosenbloom, CMT

Dojis at the Highs – A Look at DIA QQQQ and SPY

Bycjrosen August 25, 2009

All three major US Stock Market Indexes – along with their respective ETFs – have formed two dojis in a row above their upper Bollinger Bands. While this certainly doesn’t guarantee a reversal, it’s at least a warning sign that would benefit us to take a closer look.

Let’s see the price moves of the DIA, QQQQ, and SPY off their March lows and take a look at the current doji candles along with other instances where at least two dojis in a row formed… and see what happened next.

Daily Commentary | Market Education

SPY Intraday Elliott Fractal Opportunities

Bycjrosen August 24, 2009

Today served as a great lesson of the “Elliott’s Fractals” trade concepts I frequently mention here on the blog.

The main idea is to recognize a new momentum and price high (impulse) for a potential 3rd wave, and then wait for a pullback into support. Buy into the support and play for a possible 5th wave that should end in a momentum divergence. Today served as a great lesson of the “Elliott’s Fractals” trade concepts I frequently mention here on the blog.

The main idea is to recognize a new momentum and price high (impulse) for a potential 3rd wave, and then wait for a pullback into support. Buy into the support and play for a possible 5th wave that should end in a momentum divergence.

Market Education

Updated Post on IBM Shows Why Multiple Timeframe Analysis is Critical

Bycjrosen August 24, 2009

In early July, I analyzed IBM’s daily and weekly structure because there were clearly conflicting signals depending on whether you examined the Weekly or Daily timeframe. Please reference the original post “Conflicting Signals in IBM” which was also published at the MoneyShow.com for the background before reading the resolution.

The main idea was that if you examined the Daily Chart in isolation, you would have seen a negative divergence along with a breakdown of moving average support and the likely expectation for a major trend reversal down to be the dominant trading idea – short.

Weekly Commentary

Copper Prices in 2009 with Weekly View

Bycjrosen August 24, 2009

Many analysts find charting Copper Prices helpful for assessing the strength of the broader economy. After all, if demand for copper is increasing, a major reason could be that construction activity is increasing, which signals a strengthening economy.

Daily Commentary

Markets at Critical Inflection Points – Weekly Views

Bycjrosen August 22, 2009

I wanted to show you a quick “Weekly Fly-by” chart comparison of the 10-Year Notes, S&P 500, Crude Oil, and US Dollar Index to note key inflection points across all markets – with key markets at such important inflection levels, a push either way will clue us in to what’s ahead for the next few months.

Weekly Commentary

A Quick Look at the Weekly Commodity CRB Aug 21

Bycjrosen August 21, 2009

With markets at potentially major turning points – one way or the other – let’s take a quick look at the CRB (Commodity) Index for a possible clue.

Daily Commentary

The Current Contracting Triangle in Gold

Bycjrosen August 21, 2009

I’ve been reading some interesting commentaries on gold prices and expectations recently, but let’s step back to the basics and take a look at the lengthy triangle consolidation formation and note key levels to watch on a potential break.

Market Education | Trade Set-Ups

Massive Monthly Enhanced Bear Flag Example on GE

Bycjrosen August 20, 2009

General Electric (GE) gives us a great example of how the patterns in technical analysis (charting) are fractal, and are applicable to all timeframes. Let’s take a look at perhaps the most massive bear flag I have seen, which serves as an ideal educational example of the “Enhanced Flag” concept.

Daily Commentary | Weekly Commentary

Free Best Practices Seminar with Dr Brett Steenbarger Today

Bycjrosen August 19, 2009

Just a reminder that Dr. Brett Steenbarger will be presenting a free webinar today entitled “Best Practices for Active Traders” today after Wednesday’s close at 4:30 EST (3:30 CST) and it looks like a great webinar! In a one-hour webinar, Dr. Brett will be discussing: * Reading Intermarket Themes * Reading Intraday Market Volume *…

Market Education | Trade Set-Ups

What Happens When Key Resistance is Broken

Bycjrosen August 19, 2009

I’ve been discussing this concept behind the scenes but wanted to share a little insight with this morning’s example of broken resistance leading to a break-out (along with a great triangle example!). Let’s take a look: