For those of you who missed it, AIG had a large breakout from a short-term symmetrical triangle which led to a sudden achieving of the ‘measuring objective’ or price projection target. Let’s take a look at this triangle, as it serves as a great example of the “price consolidation and expansion” principle, as well as a near perfect ascending triangle trade set-up.
Adam Hewison released a thought-provoking video yesterday entitled “Two Major Technical Levels are About to Collide in the S&P 500 Index.” It’s an interesting and ‘larger picture’ style take on the S&P 500, noting an overhead descending trendline (which I missed drawing! I miss some of the things that are so simple – Adam is…
I mentioned earlier this morning that an “Ascending Triangle” was forming in Crude Oil prices (daily), but there’s been an even larger triangle forming on the price charts of Exxon-Mobil (XOM). Let’s take a look at the weekly and daily structure.
In the latest episode of the Disciplined Investor Podcast with Andrew Horowitz, Andrew interviewed Larry Williams and myself in a discussion of the current markets, technical structure, and commodity market positions. Entitled, “Episode 127: Pro Lessons on Trading and Technicals,” Andrew, Larry, and I discuss what we’re seeing in the current market – Larry from…
Not to be outdone by gold’s lengthy triangle price pattern, Crude Oil has recently been forming its own triangle pattern as seen on the daily chart. Let’s take a look and note the current triangle boundaries.
I wanted to show a higher timeframe “Measured Move” pattern that played out on the monthly timeframe in 10-Year Treasure Notes ($UST) from 2000. It’s an interesting example of the ‘fractal’ nature of price and higher timeframe structure and targets.
A reader brought this chart to my attention, and I wanted to show a version of the monthly S&P 500 Index with respect to the 20 month SMA, RSI Indicator, and McClellan Oscillator.
For those following Copper, particularly as a barometer of economic activity, Copper Prices (index) have retraced into a Fibonacci overhead level. Let’s take a look at this and see if buyers can push prices through the $300 level.
Robert Prechter’s financial forecasting and educational site just began “Free Week,” which allows you to gain immediate subscriber level access to some of their daily and weekly market forecasting services to see what membership is like for subscribers. These are always popular events that allow non-subscribers to receive full, free reports/access for a week’s period…
I thought there were many opportunities to trade and learn from the price moves of today’s intraday action in the SPY (and broader markets). Let’s take a quick look: First, the 5-min chart: Without describing the whole day, I wanted to call your attention to the intraday reversal that took place at 12:30 CST in…