With Gold breaking to new highs, Adam Hewison, who has been bullish on gold for quite some time now, released a new, quick 2-minute video entitled “An Alternative to Trading Gold” that shows his take on the current “Inverse Head and Shoulders” in gold and demonstrates the pattern and trading possibilities also in GLD, which…
I wanted to share a lesson from today’s “Idealized Trades” report – namely on the importance of recognizing “Type of Day Structure” which then leads you to adopt more appropriate trading strategies.
For example, on today’s range day trading environment, the best trades came from watching these three concepts: Bollinger Band Extremes, Candle Shadows or Reversal Candles, and TICK or Momentum Divergence. Let’s take a quick look at some of the trades you could have taken using a combination of these concepts.
Recently, I had the opportunity to interview top trader Larry Connors, CEO and founder of TradingMarkets.com, and author of many popular trading books including Street Smarts (with Linda Raschke), High Probability ETF Trading, How Markets Really Work, and Short Term Strategies that Work. His full biography page (link) is listed at Trading Markets.com.
Let’s take an interesting walk down recent memory lane – specifically, the last few months since late May 2009. Why might that be useful? Because four times over the last four months, price looked like it was going to begin a deep retracement… and then suddenly and sharply began rising, taking all short-sellers’ stop losses with them. Is history about to repeat itself again?
Let’s take a quick noon EST look at the SPY, market internals, and a quick look at gold prices, which is the top story of the day. SPY 5-min: The S&P 500 gapped up this morning and has been rallying ever since in what could be yet another “Trend Day” up, but as always we…
I was doing some work on the Silver ETF (SLV) and wanted to show a simplified version of a potential ‘confluence projection’ zone at the $18 level which I found interesting and worth a look.I was doing some work on the Silver ETF (SLV) and wanted to show a simplified version of a potential ‘confluence projection’ zone at the $18 level which I found interesting and worth a look.
Let’s take a look at the XLK Technology Sector ETF, as it’s caught between two key boundaries and is showing an interesting pattern. Let’s see it:
With a new week before us, and a strong rally since the March lows in the S&P 500, let’s take a quick look at the “Relative Strength” lines of both the “offensive” Consumer Discretionary/Retail Sector and the “defensive” Consumer Staples sectors in relation to the S&P 500.
Last week, I discussed Apple’s (AAPL) Daily Chart and noted that “Apple was close to all-time highs” (weekly and daily view) but that there was a price level overhead to overcome.
Here’s another classic “Blue Chip” Dow Jones component along with Exxon-Mobil (XOM) that is forming a large-scale symmetrical triangle formation. Let’s take a look at McDonald’s (MCD) weekly stock chart.