In last night’s report, I highlighted the symmetrical triangle formation on the intraday charts for the S&P 500. Interestingly enough, this morning’s sell-off in the futures resulted in the triangle price projection target being hit before the market opened, in another example of the market hitting a price target overnight. Those are always interesting and…
For those of you who closely watch bond and note prices, or perhaps trade them through respective ETFs, you’ve probably noticed that two major bond/note funds are nearing or already have broken out of a clean resistance level. Let’s take a look at the iShares 7-10 Year Note fund and the iShares 20+ Year Treasury…
Friday’s close in the US Dollar Index took us back to the key short-term support line at the $85 index level. Let’s take a look at the daily chart to see why this level is important – and where we might go depending if support holds or breaks. The Dollar Index rallied persistently to the…
Friday’s Mid-day check on market internals shows a powerful positive internals divergence in breadth, TICK, and VOLD – which suggests we could see some positive price action yet to come. Let’s take a look at the chart and note the prices that would confirm or disconfirm this signal: (Click for full-size image via chart.ly) As…
Those who follow Goldman Sachs (GS) chart moves are undoubtedly aware of the importance of the “Support Shelf” at $130.00. Let’s take a look at why $130 is critical support to watch for this leading financial stock – and what it might mean for the market if support holds… or breaks. First, a price purism…
Thank you for your requests for updates on India’s “Nifty 50” Index. There’s actually a very interesting turning point in the index coming up, and a sharp rally that has led to a recent outperformance (to the SP500) of the Nifty index. Let’s see the daily chart and the recent strength: The price structure of…
Last night I was doing relative strength analysis on stocks to the S&P 500 year to date and found out that Monsanto (MON) was the second-worst performing stock – relative strength wise – in the entire SP500 year to date. It wasn’t that long ago that Monsanto and Potash (POT) were high-flying stocks that swing…
I always enjoy highlighting unusual or strange patterns from an educational perspective on the blog, and just now we have an opportunity to look at setting targets and playing two symmetrical triangles – in both directions – on the intraday SPY chart. Let’s see the patterns and learn the suggested trading tactics: (click for full-size…
Rob Hanna of Quantifiable Edges recently released a 68-page “Guide to Fed Days” in which Rob shares a plethora of research on trading days before, day of, day after Fed Days and I wanted to share that link with you. He also released a post today entitled “Predicting Fed Rates.” There is also a link…
Analysts are taking note of the recent 40% drop over the last month in the Baltic Dry (Shipping) Index, which is often seen as a leading indicator of global economic activity. Let’s take a look at the weekly BDI chart and then drop the daily frame and compare the chart to the S&P 500: The…