To See a Bear Market, Look to Gold Not Stocks

Jul 17, 2015: 1:35 PM CST

Gold prices slid to new lows today in an ongoing downtrend and bearish money flow.

While a lot of traders are expecting the stock market to peak and reverse, many traders may be missing the ongoing downtrend in Gold that is confirmed and in motion.

Let’s chart Gold from three perspectives and see what’s going on (and what levels to watch):

Our simple Daily Chart perspective reveals an ongoing downtrend of lower lows and lower highs along with bearishly sloping moving averages.

However, a key support level developed near $1,140 where buyers intervened and bounced prices higher in November 2014 and March 2015.

Traders perhaps were hoping for a repeat performance of the bounce rally – which is absolutely logical – but today shows the bounce did not yet occur.

At this point, we’re likely to see a “Bear Trap” outcome (see the stock market in October 2014 and recently in July 2015) which would trigger IF price pushes back above $1,140 instantly… or a breakdown and continuation of the ongoing downtrend and bearish money flow.

See yesterday’s multi-market update post for a broader perspective.

Before we take a look at the Weekly Chart structure, let’s update our Color Structure Chart of Gold: Continue Reading…

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Quad Market Money Flow Grid for Oil Gold Dollar and Stocks July 16

Jul 16, 2015: 2:33 PM CST

Let’s take a moment to update our mid-month Money Flow Grid for our four main markets we track.

We’ll start with the Hourly (Intraday) Grid and move up to the trends on the Daily Chart:

This is meant to be a quick update to our in-depth membership content each week.

We’re seeing the Color Chart Grid (Linda Raschke inspiration) and 3/10 Momentum Oscillator for Divergences.

Starting at the top left we see the @ES (S&P 500) power-rallying higher into the 2,110 level on divergences.

The US Dollar Index (@DX) joins the S&P 500 at new swing highs on a short-term July uptrend.

Not all markets are strong; Gold and Oil are downtrending on their short-term charts and pushing to new swing lows.

As you study these charts and “Market Structure” (Trend), pay close attention to the price movement, direction of the moving averages (rising? falling?), and of course the divergences in the 3/10 Momentum Oscillator. Continue Reading…

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Relief Rally Continues Market Update and Stock Scan July 16

Jul 16, 2015: 12:32 PM CST

The Relief Rally in stocks continued without ceasing today, taking the index shy of another all-time high.

What’s going on now and what levels are important? Let’s see:

Our ongoing Broader Narrative continues to be successful as the market simply continues to trade higher in the ongoing uptrend.

As we’ve been highlighting every day to members, price simply developed multiple Trend Days in an ongoing short-squeeze reversal up away from the higher timeframe support level (the bottom near 2,040 in the @ES).

At the moment, we’re watching 2,110 (@ES) and upwards toward 2,120 for short-term intraday plays.

Follow along with members for more precise daily planning, analysis, and education.

Continue Reading…

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Join Dave Landry for “This Week in the Charts” Update Thursday

Jul 15, 2015: 12:55 PM CST

I’m excited to highlight my long-time colleague Dave Landry’s upcoming market update and wanted to invite you to benefit from Dave’s down to earth, straight to the point analysis.

On Thursday July 16th, at 11:00 AM ET, Dave Landry is giving a special “The Week in the Charts” educational presentation.

Tap here to learn more and sign up for free and join the presentation.

Grab your spot here to listen to Dave talk about what he’s seeing in the charts.

Dave was one of the first traders from whom I learned when I was beginning my trading career.

He’s a true trend follower, and his strategies have kept traders on the right side of this bull market as it has continued to exceed expectations.

I’m looking forward to learning the stocks, sectors, and ETFs on which Dave is focusing right now.

This week:

- Get Valuable Trading Lessons Based On Current Conditions And Feedback From You. Topics often covered include:
- Trading Psychology–You And What You Can Do About You
- Actionable Setups & Patterns
- Money & Position Management–How You Can Control Loses And Stick With Winners

And much more from a true and time-tested trader!

Thanks to Dave for continuing to provide his simple style of analysis and education to the trading community!

Corey Continue Reading…

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A Takeoff and Bounce Reversal for Delta Airlines DAL

Jul 15, 2015: 12:28 PM CST

Recently we’ve been discussing the “Arc Trendline” Pattern in high-flying Delta Airlines (and similar companies) but now we’re seeing a lift-off and reversal bounce precisely at a key support target.

Let’s see the lift-off, update our key levels, and plan what to expect going forward.

First, start with the previous update on the “Arc Trendline Pattern Continues” for Delta.

Also reference the prior post “High Flying Airlines Completing Arc Reversal Pattern.”

Compare the analysis then with the current bounce/reversal play occurring at the target mentioned.

After price completed the Arc Pattern into the $40.00 per share target level, a lengthy positive momentum divergence (highlighted) set the stage for a lift-off in shares.

That’s what we saw in early July – confirmed by volume – and the bullish surge continues today. Continue Reading…

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