As a follow-up from my prior “Best of 2009 Part 1” post, I’m pleased to present Afraid to Trade’s best posts of 2009 Part 2, spanning from February to March 2009: Educational Set-ups/Patterns: 5 and 15 Minutes of Downside Doom in the DIA Extreme Divergence and Rounded Reversal in USO US Oil Rounded Reversal in…
A symmetrical triangle consolidation had been forming on the intraday frame on the S&P 500 (and other markets), but this morning, we got a nice breakout of the triangle and test of the prior high.
Now, we have a “Go or No Go” on the breakout (meaning – “Is it a bull trap or for real”) which will be confirmed with a break to new highs… but let’s see the current structure and levels to watch.
Those who know me know that one of my favorite price patterns is the “Rounded Reversal” or “Rounded Arc” pattern, one of which is forming clearly now on the NASDAQ Index. Let’s take a look.
Today’s Technician’s Edge column at the GreenFaucet.com website focuses on the “Sector Rotation” model insights from the nine major Sector SPDRs. Simply entitled, “Sector Rotation/Returns Performance from February Bottom and Year-to-Date,” I take a look at both timeframes and what the message is from the sector rotation model – hint: it’s bullish as you might…
I’ve heard a few traders complaining about the range compression intraday in Google and thought I would give that a look – indeed, we’ve had a strange and lengthy (in day trader’s terms) consolidation in price, which sets the stage for a range breakout play ahead.
Thank you to all the readers who have requested that I do occasional update posts regarding India’s “Nifty 50” stock market index.
There’s actually a new ETF now that allows investment/trading in the Index, and it trades under the symbol INDY, which I will be showing in a chart to highlight a potential major breakout that is occurring this morning.
Without further delay, let’s take a look at the weekly and daily structure of India’s “Nifty 50” and then the INDY for a potential major breakout… if it holds.
It’s Monday morning, and that means it’s time for another “Indicators the Disciplined Investor is Watching” post to start our week from Andrew Horowitz – with this week’s update being titled: “Banking Index Flashes Gravestone Doji” Andrew starts the update by discussing “junk” high-yield bonds and then moves to discuss the Baltic Dry Index. In…
Adam Hewison of the Market Club recently released one of his quick update videos, this time on the strength in the Dollar Index, entitled, “Will the Dollar Index Extend its Rally?” I have a tendency to overcomplicate the charts at times, so I often enjoy Adam’s simple take on the markets in a video format….
You may have been hearing commentaries about the “unprecedented” rally we’re experiencing that doesn’t seem to want to peak any time soon.
I thought it would be a good idea to look back on recent rallies from 1995 forward – using the Dow Jones as a proxy – and compare prior “non-stop” market rallies to the current rally phase off the March 2009 low.
While not earth-shattering, the charts did turn up some interesting observations. Let’s see them.
Wshew! The day’s not yet over, and we’ve already had a ‘dual negative divergence,’ Rounded Reversal, trendline fake-out, and a potential ascending triangle forming.
Let’s take a quick look at these set-ups and how they played out, along with where we are right now.