I always enjoy highlighting good educational examples that occurred during a particular trading day – if anything to archive it – and today gave us a great example of trading a Bear Flag structure intraday… actually the whole day!
Let’s take a look at the 5-min and 1-min intraday SPY chart (identical on the @ES futures) chart for a fun lesson on flags.
I wanted to show a critical inflection point currently in the GLD and Gold charts, namely a key support level which will mark the boundary between a swing back to the upside or a continuation of the bear flag in development. Let’s take a look.
Here’s another perspective on the comparison charts of the Dow Jones between the 1929 crash and recovery and the 2009 crash and recovery.
Let’s take a quick view of the line charts of the daily Dow Jones in 1929 structure and how it compares with today’s weekly Dow Jones structure.
With Exxon-Mobil breaking down through critical support level at the $67.50 level, let’s take an updated look at Exxon-Mobil and note a key target and potential bear flag development in this stock.
I’ve been impressed with the work of Fibozachi lately, particularly in regard to the recent “Short Term Update” posts. I wanted to provide a link to their most recent publication – written at the popular Zero Hedge website – entitled “Fibozachi Technical Update of January 27, 2010.” Here is a snapshot of a few of…
It’s time for another Traders Expo! The New York Trader’s Expo is the largest of the three (February, June, November) and has an amazing roster of speakers that you will not want to miss! Here is an image of some of the top speakers (over 50 speakers and 125 presentations) who will be presenting at…
I recently highlighted the “Bull Flag Formation in the US Dollar Index” on January 18th (see prior post), and now that we have successfully broken higher confirming the bull flag, it’s time to take an updated view of the daily US Dollar Index chart to take a look at a “bump in the road” that must be overcome to complete the full target.
Headlines have featured on China and its pulling back of its economic stimulus, which has contributed in part not only to a pullback in FXI (iShares Xinhua China 25 ETF).
Let’s take a quick look at the FXI weekly chart to see a lesson in lengthy negative divergences and a likely developing “Rounded Reversal” pattern forming into a critical support level.
For the moment, things are looking brighter for the buyers/bulls, at least according to the intraday SPY 5-min chart when a bullish trendline break accompanies a strengthening in key market internals.
Let’s take a look at the recent potential bullish developments.
Admittedly, it’s not the most exciting blog post title, but I always enjoy highlighting quick tips whenever possible on intraday trading tactics, and Monday’s action gave me a great chance to share a quick example of a near-perfect intraday Fibonacci Confluence.