Lessons from Dendreon DNDN
I wanted to share the chart of Dendreon DNDN and some links to other news stories that try to explain what happened and what we can learn from it.
Gold Inflects off Key Support – Daily Structure
old prices recently defended a critical support area. Let’s see Gold’s daily structure and note the confluence of Fibonacci and Moving Average support.
Another Powerful Trend Day Befalls Us
To say I was impressed with the bullish action today is an understatement – I was astonished at the strength! Let’s look inside today’s intraday action to see how the Trend Day structure developed and what opportunities existed for profit – knowing how to trade a trend day can make the difference in a large loss or large profit the next day we get one.
Apple AAPL Daily Chart Shows Strength with Divergences
Apple Inc (AAPL) has been a relative strength leader off the March 6th market bottom. Let’s take a look at its currently daily structure to see where it’s come from and where it might be heading. First, observe the powerful $45 price move up (47% increase) off the March lows – actually Apple showed relative…
Link: The Importance of Hard Work
I wanted to share an inspiring post by Mike Bellafiore of the SMB Training Blog (and co-founder of SMB Capital) entitled “10x equals x“. In the article, Mike discusses a disturbing trend in newer traders (in terms of assumptions) and shares his thoughts on the solution. He introduces the post with a challenging statement: “These…
India’s NIFTY Index Comes into Weekly Resistance
Let’s take a look at India’s Nifty-50 Index, which is bumping up against the falling 20 week EMA which could serve as a temporary upper-limit after the astounding 40% (1,000 point) price run-up off the March lows. Price has rallied 1,000 points into resistance at the falling (yet flattening) 50 week exponential moving average, and…
Sector Performance for April 2009
Which specific sectors fared the best and worst for the month of April? Let’s take a look both at Absolute Sector returns and Relative Sector returns for the month of April 2009. First, Absolute Returns for the 9 major sectors (and the S&P 500): The S&P gained just over 8% for April – a relatively…
Large Scale Elliott and Fibonacci Insights on GE
Conglomerate General Electric (GE) has shown fascinating confluence via Elliott Wave and Fibonacci (as well as “Measured Move”) analysis. Let’s see what I mean and start the count from 2000 to present on the monthly chart. First, let’s see the simple AB=CD “Measured Move” (aka large bear flag) that has just hit its target: I’m…
Fibonacci Confluence in the NASDAQ May 1
Let’s take a quick look at the levels of Fibonacci Confluence in the NASDAQ Index as we start May, 2009. The Fibonacci grids I’ve drawn begin at the 1,280 March low level and connect three key swing highs – the colored retracements are the result of these levels and we are looking at the confluence…
Massive Internal Divergences Predict Intraday Trend Reversals
Using today’s price action so far as an example, let me walk you inside the price action for April 30, 2009 in the SPY to discover that massive TICK, Breadth, and Momentum divergences all formed, clueing you in that a price reversal was far more likely than price continuation. Let’s walk through the market internals…