I was doing some work with Fibonacci retracements this afternoon and found a particularly interesting confluence I thought I’d share with you. It’s on the Dow Jones and it involves the current low and how it almost mysteriously fits within the current structure. Dow Jones Weekly Chart: First, let me start by saying this is…
Wow – what another surprise today’s final hour of trading brought us. I’m sensing a pattern developing here. Let’s see the 15-minute chart structure and observe the divergence that preceded the action, and then see if we can count a completed 5 wave impulse – complete with mini-fractal waves – of the final potential wave…
This trading week so far has been an absolute disaster for long-only investors. Let’s take a look at the current Dow Jones structure and see if we can pick up any clues on what might be in store next. Dow Jones Monthly: As of this writing, there’s still an hour left in this trading week…
I just discovered this link and had to pass it on to you. The MoneyShow.com is featuring dozens of select presentations via webinars from speakers at the Las Vegas Trader’s Expo. Specifically, the link is their “Upcoming Webcast” page off the homepage which offers you to participate or view in a chat-room while listening to…
What a day. Let’s take the DIA (Dow Jones ETF) trading structure on the 5-minute and 30-minute charts to see what insights we might can learn from any pattern recognition examples that might emerge on such a historic day. DIA 5-min chart: The first pattern that jumps off the chart at you is what I…
With the US Equity market breaking to fresh 2008 lows, challenging and breaking support levels formed in 2002, let’s take a look at how the actual bottoming process formed in the 2000 – 2003 bear market. S&P 500 Bear Market from 2000 to 2003 (Weekly): The bull market peak occurred at 1,530 just before October…
Now that today’s close is firmly in place, we have a potential game-changer in terms of the technical structure. The monthly chart also shows a major bearish development Let’s look at the current S&P 500 chart closely to see what this means. S&P 500 Daily: Not a whole lot has changed on the daily structure,…
As we near the halfway point in Wednesday’s trading, let’s look at the current Dow Jones Index structure on the daily chart to assess the current technical picture. Dow Jones Daily: The 8,100 level has held key support five times since October with only two instances of price ‘nipping’ beneath that level. Mid-October brought us…
Sears Holdings (SHLD) is a large retail stock I tend to follow from time to time, but today I noticed just how far the stock has fallen this year and since 2007. Let’s take a look at the devastation long-term SHLD investors have endured recently. SHLD Weekly Chart: Price reached an all-time high at $190…
As we head into the ‘lunch’ period, I wanted to show a fascinating price structure occurrence that led to a couple of high-probability, low risk trading opportunies this morning. It includes a Daily R1 Pivot Point, a negative momentum Divergence, and a possible complete Elliott Wave minor count. Let’s see them in action. DIA 5-min…