Gold prices have been rising as the US Dollar Index has detiorated towards the end of the year. Let’s take a look at the weekly and daily price structure to see what’s happened and what might be in store. Gold Prices Weekly: On the weekly chart, price is still in a confirmed downtrend, which is…
There’s interesting slightly conflicting technical signals on the DIA – the Dow Jones ETF daily chart. We’re seeing bearish overhead resistance confirmed by a bearish non-confirmation in volume… which is developing underneath a positive momentum divergence. Let’s see if we can sort this out. DIA Daily chart: I separated the volume bars to highlight the…
A friend recently asked me what I thought of eBay and Amazon simply because he figured – as many people do – that because online shopping as a trend is growing, then the stocks of these two particular companies must be surging. Let’s view the weekly charts of EBAY and AMZN to see if this…
You’re looking at a stock chart for the first time – where do you start?! What do all those lines mean? Price data is often plotted on the vertical or Y-Axis while time data (minutes, days, weeks, months) is often plotted on the horizontal or X-Axis. The goal of reading a chart is to determine…
I know – these titles of long term structural chart posts seem boring, but they’re essential in seeing the larger picture or structure from within the current ‘unprecedented’ moving are occurring right before our eyes. Let’s take a moment now and look at the 30 Year Treasury Bond price dating back to 1980 to today…
A lot of us are getting caught up in the recent strength… now weakness… in the US Dollar Index, but some may have forgotten the long term structure that overlays the current price movements. Let’s take a look at the US Dollar Index from 1984 to present and try do determine an appropriate backdrop from…
I came across an excellent post at the “Stand Out Blog” that I wanted to share with you all, which is applicable for all of us in different aspects of our lives, but especially in trading. Entitled “Smart Goal Setting for 2009,” author Tom provides us a list and also distinguishes between “SMART” goals and…
You have less than two-weeks to make any adjustments that would help you lessen your tax burden for 2008. USA Today reporter Rhonda Abrams suggests these nine strategies in her article “Do These Now to Reduce Your Tax Bill in April.” These strategies are mainly geared for small businesses, but if you are an independent…
Is a Rounded Reversal chart pattern in store for Research in Motion (RIMM)? The chart appears to be setting up that way – let’s see this development and take a closer look. RIMM Daily: It would appear from the chart that RIMM is indeed in the middle section of a possible “Rounded Reversal” or saucer-style…
There is a clear ascending triangle consolidation pattern developing on the major US Equity Indexes, and it appears we are reaching the Apex, or break-out point sooner rather than later. Let’s take a look at the S&P 500 Index and see this development. S&P 500 60min Chart: The S&P 500 is showing significant resistance about…