CNN News just reported that current Yahoo! CEO Jerry Yang will be stepping down and his replacement will be named soon. Let’s review this news and look at the current and past charts of Yahoo stock. From the CNN article, Yang stated, “”I will continue to focus on global strategy and to do everything I…
It’s quite rare to get a reading in the ADX (Average Directional Index) of less than 10, but the DIA 5-minute chart is currently showing compression such that the ADX value is 8.77. Let’s look at this and see what it might mean. DIA 5-min chart: In StockCharts, the ADX actually displays the + and…
What a better way to start your week than browsing around the news and blogosphere, courtesy NewsFlashr? Here, I wanted to highlight selected blog or news posts that you may find interesting that might help you in the upcoming week. The Big Picture tries “DECONSTRUCTING THE FINANCIAL CRISIS (so far)” which is a rough timeline…
Not too long ago, I evaluated the S&P 500 in terms of a possible Elliott Wave Interpretation which is still playing out as anticipated according to basic Elliott Wave Principles. Let’s update that count and see if we can glean any information from the current structure. S&P 500 Possible Elliott Wave Count – Monthly Structure:…
With a wildly volatile week behind us, let’s step up the perspective and see if we can glean any information from the S&P 500’s weekly chart. S&P 500 Weekly Chart: Don’t we wish we could turn back the time to October 2007? Alas, we have to take what we’re given in the market and do…
I actually missed this development until a reader pointed it out to me, but Friday’s action seems to ‘make more sense’ when viewed through the 30-minute chart. As a bonus, this timeframe allows us to see the broad picture of the whole interesting action of last week. Let’s look. DIA 30-min chart: The blue vertical…
Today’s US equity index markets completed a classic “Rounded Reversal Day” pattern worth examining. Let’s see this pattern and also view the “optimal entry point” that confirmed that this structure was likely forming. DIA 5-min intraday (incomplete) chart (courtesy TradeStation): The day opened with a downside gap that quickly filled (or actually came just shy…
Gold prices are testing major resistance, but have a positive momentum divergence building beneath the action – let’s see these developments – using the Gold Trust ETF (GLD) as a proxy. GLD (Gold Trust ETF) Daily: Before viewing the chart, keep in mind that StockCharts represents the gold price index ($GOLD) with end-of-day data only,…
I feel like every day this week has provided a wonderland of strange opportunities to discuss on the intraday charts – today was no exception. We experienced a 900 point swing in the Dow Jones from intraday low to high. Let’s view this action and see what sense we might have made from it. First,…
That’s a headline I never anticipated writing: “Google closed beneath $300 yesterday for the first time since August 2005.” The 2008 bear market has seized another casualty in high-flying Google stock, pulling it off 60% from its $750 price high in late 2007. Let’s take a look: Google (GOOG) Daily Chart: Price is on a…