We’ve witnessed absolute destruction in the price of crude oil and in other commodities in such a short period of time. However, the situation might be changing and aggressive speculators might find a significant low-risk opportunity should crude oil find support at the well-established level of $40 per barrel. Let’s see this and how it…
Here’s a chart you might want to save as a reference in terms of overhead possible Fibonacci resistance levels and their respective confluence zones. The graph takes the S&P 500 swing highs and runs corresponding Fibonacci retracement grids all to the most recent 750 spike low in November and highlights areas of Fibonacci clusters. Let’s…
As expected, it looks like the current price action as of Monday morning is confirming the large-scale Elliott Wave Count that we have freshly entered a corrective Wave 4 up-swing in the market, which could continue into the end of the year. Let’s take a look at the large-scale count and see which price targets…
A reader asked for my take on a potential Elliott Wave count for the 10-Year T-Note and here is my current interpretation of the possible Elliott Wave structure building there. Let’s look at the yield chart and then the price chart (which are of course inverse). 10-Year T-Note Yield: The longer timeframe Elliott count is…
File this under “In case you missed it.” The 10-Year Treasury Note price has surged 12% in just over a month, as investors surge to the safety of treasuries. Subsequently, yeilds in these safe investment vehicles has plunged dramatically. Let’s look at the 10 year note price, and then see the 5-year note and 3-month…
They’ll get you every time. Today’s intraday stock market action was an excellent example of the “rounded reversal” day concept in action. Let’s see it in the DIA and how we might have managed risk and traded it. DIA 5-min chart: The day started with the news that the market moving “Jobs Report” showed a…
Chicos Fashion (CHS) was an ‘on-fire’ and in-demand stock a few years ago, but recently, the stock has soured along with the broader retail sector, driving many stocks to multi-year lows and wiping some out of the market completely. Let’s take a look at CHS to note the full Elliott Wave progression, and then compare…
The first of the month means it’s time to look at the performance of overnight gaps on the DIA! November was a particularly volatile month, with the average overnight gap being around $1.00 (100 Dow Points). Let’s look at the percentages and numbers of filled and unfilled gaps for the month. Gap Fill Chart: Trading…
What has Apple (AAPL) been up to lately? Not much for long-term investors recently, but let’s take a moment to view the monthly, weekly, and daily charts and apply Elliott Wave combined with Fibonacci analysis to see where we’ve come, how we got there, and what might be in store for the future. Apple (AAPL)…
I previously discussed the Baltic Dry (Shippers) Index, but now I wanted to discuss a potential method from trading your take on dry shipping companies in general, focusing specifically on Dry Ships Inc (DRYS) which enjoyed a meteoric rise through 2007… followed by rapid price destruction throughout 2008. Let’s look at the weekly and daily…