Often it can be helpful to analyze relative strength charts of key stocks or sectors to get hidden insights into possible future price moves or current structure. Analysts often use the ratio of the Consumer Discretionary Sector (XLY) to the Consumer Staples (XLP). Let’s see what this might mean and where this ratio is currently….
Could anyone have predicted we would have a mirror image rise of yesterday’s decline? What a weird way to follow-up a large scale down day in the market – with a move of equal size in the opposite direction! Let’s zoom in to see this as it transpired and note key points in the price…
Orlando is host to the Money Show from February 4th to 7th 2009 and I will be there socializing and interacting and I would love to meet readers and fellow bloggers who will be attending there as well. You can find all the details about The World Money Show from their website as to the…
eBay.com is perhaps the #1 auction website out there and one would think people would turn to eBay during hard economic times to find good bargains on virtually anything, but their stock is telling us a different story. Let’s take a look at the daily and weekly chart of eBay and then see a video…
One might describe Tuesday’s action as a “Creeping” or “Oozing” Trend Day which never really gave a clean retracement swing to enter as price bled its way to the close. Let’s look at the DIA and take a special glance at the NASDAQ’s near perfect trend channel which pushed the Index down for almost a…
Financial stocks were hardest hit in Tuesday’s market decline and I wanted to highlight the XLF Financials ETF (which broke its November lows today, falling 16%), Wells Fargo (WFC) which fell 24% today, and CitiGroup C which declined 20% today. First, the broader XLF Financial ETF: I’ll take a quick view of each stock’s technical…
Earlier, I showed the structure of the CRB Commodity Index and noted we might be experiencing a positive reversal, but let’s look now specifically at the US Oil Fund (USO) and $WTIC Crude Oil (Index). USO United States Oil Fund: We see an almost identical structure in the CRB Commodity Index. Price is in a…
Let’s take a moment to use traditional Fibonacci retracement methods to find potential price clusters off the November lows as an exercies in multi-level Fibonacci Confluence. S&P 500 Weekly Chart: Sometimes you can get more insight from “Clusters” of Fibonacci Retracements than you can single retracement grids. I’m using the ‘classic’ method of Fibonacci which…
There is a multi-swing positive momentum divergence and perhaps a new set of higher highs and higher lows developing in the CRB (Commodity) Index – but might this lead to a reversal in price? Let’s look: $CRB Commodity Index Daily: We have a confirmed and persistent downtrend in price as evidenced by lower lows and…
With the end of the weekend near, I thought it would be a good time to go over some of the selected blog posts of the week, courtesy NewsFlashr’s Business Blog section. Mish lays out a case that argues how ‘social mood’ will help shape the future in terms of retirement, inflation, government intervention, etc….