A very interesting development is taking shape on the daily US Equity Index Charts – there appears to be two distinct – and opposing – Head and Shoulders formations taking shape… and we’re at the break-out point of both patterns. Let’s see these and what they might imply. S&P 500 Daily: I’ve never seen two…
File this under “In Case You Missed It.” The XLF Financial SPDR ETF closed at all-time lows today, while the Dow Jones closed on its November 2008 closing low, which is now a mere 102 points away from shattering the November lows, which would be a six-year low in the Index. Let’s take a quick…
Tuesday’s off to a horrific start for the bulls as the indexes are down over 3% mid-day. Let’s see this in the broader context of the S&P 500’s Daily Chart and overlay a possible Elliott Wave Count complete with terminal projection and proposed pathway. S&P 500: This is my preferred count for the moment, which…
With a new week upon us and the broader markets finely balanced between key inflection points, I thought it might be a good idea to take a longer-term view, using Elliott Wave, on the US Dollar Index. US Dollar Monthly: (You’ll need to click for a larger view) I’ve fractalized the count starting back with…
Who saw this coming?! Video/DVD by mail company Netflix (NFLX) is just over $2.00 away from challenging an all-time high at $40.90. Let’s take a look at the Weekly and Daily charts to see just how this happened and overlay a possible Elliott Wave Count. Netflix (NFLX) Weekly: Look beyond the strange numbers and letters…
Since all eyes seem to be on the Financial Stocks, let’s take a brief look at the XLF Financial Sector SPDR to see if we can gather any clues from its technical structure. XLF Financial SPDR: (Click to Zoom-in on a larger than normal chart) One of the first things we notice is the power…
I’ve had a number of readers ask me for my settings or style on StockCharts and I posted one article entitled “How I Set-Up My Charts” but I wanted to go over it again and provide a predefined chart link to make it even easier. Clicking the S&P 500 chart below should take you to…
Seems like this week I spent a good deal of time discussing Gold and Crude Oil this week, so let’s look at a related market that normally trades inverse these commodities – The US Dollar Index. It might give us clues as for what to expect in these markets. US Dollar Index Daily: I wish…
What a day Thursday’s trading was! It seemed all hope was lost for the bulls until the last hour. Let’s dig a little deeper to see some patterns you might have overlooked, including a rare fractal (double) Bear Flag and a “Three Push” Pattern. DIA 5-min chart: Again, what a day. Thanks to the end-of-day…
Seems that a lot of stocks are making possible rounded reversal patterns – Apple (AAPL) is no exception. We’ll soon know if these patterns are acutal reversals… or massive bull traps. Let’s look at Apple’s daily chart – if it is to mount a reversal to the upside, it will do so off current levels. …