Today marked a day of relative indecision for the US Stock Market. The Dow & S&P are trapped just beneath their 200 day moving average, and formed a strange doji pattern at this level, while the VIX reached new lows for the year. Let’s look at these developments: S&P 500: The NASDAQ actually closed higher…
Apple’s new store in Boston, MA was opened to the public Thursday evening and I must say I was amazed at the beauty and aesthetic appeal of the storefront. I wanted to share a couple of pictures: (Courtesy Apple Insider) (Courtesy Apple.com) They’re building a new Apple store in my hometown of Huntsville, AL which…
The market indexes gave us another strange styled trend day today, with the market opening on the lows and closing on the highs while providing excellent retracement entry trades along the way. Let’s examine it: While traditional (or powerful) trend days begin with an opening gap, today’s price action opened very close to yesterday’s close. …
The US Markets remain trapped beneath their 200 day moving average but above their rising 20 period average. A breakout is likely, but in which direction will it occur? Let’s look at the SPY (S&P 500 ETF): The 200 period average is declining while the 20 is rising, and price is in a strong uptrending…
Apple Inc (AAPL) suffered just as other stocks yesterday, and fell victim to the ‘end-of-day’ plunge Wednesday. Although it’s virtually impossible to know how far a price move will go or how quickly it will occur, Apple signaled a momentum divergence that could have clued you in that the risk (short term) increased for intraday…
Today’s intraday action began with the promise of another trend day in the market, but ended on a terrible note, reversing the action into the close and causing a cascade off intraday highs for most stocks. Let’s peek at the action via the DIA (Dow Jones ETF): Trend days often start with an overnight gap…
With the US Dollar Strengthening, Gold prices have been falling lately and have officially confirmed a strong sell signal on the daily chart. Let’s view this action: Gold ($GOLD) Daily Chart: There’s a few things I want to highlight on this chart. I have literally highlighted (and expanded) the most recent sell signal in the…
Let’s look at three recent powerhouses that have been strongly pushing their way higher on less and less volume, which serves as a non-confirmation of higher prices. First, Potash (POT): This darling fertilizer stock which has been so strong through 2007 to present is now forming a potential blow-off top. Volume surged as price also…
Let’s look at internet giant Google (GOOG) to see if the stock may be at support or resistance. There’s a few patterns to note in the stock. First, look at the triangle consolidation (not shown) that preceded the price reversal at the start of 2008. Second, notice the stair-steps of lower lows that were met…
I’ve been doing some simulated trading on some FOREX cross-pairs and have been thoroughly impressed with the ‘trendiness’ that occurs with greater stability than stock index charts. I wanted to highlight three recent examples of this concept which is exciting to me. A ‘trend’ is a series or progression of higher highs and higher lows…