Current Fibonacci Confluence Grid of the SP500 June 23
Here is an updated, ‘zoomed-in’ chart of the current Fibonacci confluence retracement grid of the S&P 500:
Trend Day Down Lessons from June 22 SPY
Each day I write a ‘daily summary’ I call my “Idealized Trades” reports (which will be available for subscription by next week) and I wanted to highlight a few lessons from today’s (June 22, 2009) intraday Type III “Trend Day Down” in the SPY 5-min chart.
Amgen AMGN Cannot Overcome Confluence Resistance
A reader asked me to take a look at Amgen (AMGN) due to an interesting pattern he noticed. Let’s look at the recent “Rounded Reversal” as well as the failure at the confluence overhead resistance of the 200 day SMA and the 61.8% Fibonacci line.
Do Negative Divergences Signal a Top in the SP 500?
For those of us looking ‘under the hood’ of the market right now, we’re seeing multiple negative divergences stacking up – do these signal a key top is in place? Let’s take a look at the S&P 500 and the negative divergences in Volume, Momentum, and the McClellan Oscillator.
Andrews Pitchfork Chart of the SP500 June 18
I thought it might be interesting to post the current Andrews Pitchfork chart of the daily S&P 500 to see what that tool might be indicating.
Gann Chart Art in the 10 Year Yields
I thought I’d try an experiment with the 10-Year Treasury Yields Long-Term Chart and apply a little Gann analysis in terms of squaring price and time to see what the result might be.
Here’s the “chart art” from my experiment which probably should be filed under “Interesting” as opposed to “Actionable.”
Free Issue of Asian-Pacific Financial Forecast
The team at Elliott Wave International are offering a free 10-page sample of their Asian-Pacific Financial Forecast service which covers the following markets:
* India’s SENSEX
* Taiwan’s TAIEX
* Korea’s KOSPI
* Japan’s NIKKEI 225
* China’s Shanghai Composite
* Singapore’s Straits Times Index
* Hong Kong’s Hang Seng Index
* Australia’s ASX All Ordinaries
The Potash POT Plunge of June 17
Potash (POT) fell 11% on June 17th, slicing through daily support and inflecting down off the 38.2% weekly Fibonacci retracement. Let’s see all this up-close and learn a few lessons from this price movement.
NewsFlashr Editor Picks for June 17
My apologies for being slightly late for this week’s selections – here are this week’s “Editors Picks” from the resourceful NewsFlashr Business Blog headline site (in order of site rank): Stock Trading to Go discusses the “Three Best Liquidity Ratios for Fundamental Investors” to use in their analysis. To those not aware of these, they…
Elliott and the Recent Down Move in SPY 15min
I mentioned last night in a lesson/example on intraday Elliott Wave that a fractal 5-wave structure had completed. If we look up to the 15 (or 30) minute intraday charts, we see another ideal example of the expected Elliott pattern. Let’s see it as another example to try to learn this concept of how momentum lows and divergences fit into an Elliott pattern.