Gold prices have been confusing traders lately, as most have expected gold to be surging in this environment while in reality, it is forming a downward-sloping consolidation. Let’s take a look at a daily chart of Gold Prices to see a critical area that could give us clues about the next swing in gold prices….
Pardon the sensational title, but I wanted to take you inside the 30-minute chart on the DIA and the S&P 500, which I will describe as “Trader Hell.” I’ll also show you the key levels to watch as we near the end of our consolidation and expect a breakout move very soon. DIA 30-minute chart:…
Some have called Estee Lauder (EL) the “Lipstick Indicator” for a variety of reasons. Let’s look at EL on a weekly basis and then view a recently released video explaining more about this ‘indicator’ from Adam Hewison of Market Club. Estee Lauder EL Weekly: From a technical standpoint, the first thing I wanted to highlight…
The Big Picture shares an article from James Bianco entitled “The Dow is Distorted” which addresses some recent anomalies in the components in the Dow Jones Index. Specifically, Bianco argues that the Dow Jones is violating its own ‘unwritten rules’ that any stock that trades less than $10 per share will be excluded from the…
Caterpillar (CAT) announced today that it was laying off 20,000 employees, which sent the stock down to test the November lows and officially confirmed a Bull Trap that was sprung in early January. Let’s see Caterpillar (CAT) on the Daily Chart: I’ll leave the fundamental news to other websites and will only focus on the…
I had mentioned earlier that we were seeing relative strength in education stocks such as the Apollo Group (APOL) and ITT Education Services (ESI), both of which made fresh 52-week highs last week. However, Monday morning saw these stocks get clobbered in early trading. Let’s look at them and see this development. Apollo Group (APOL):…
Here’s a portion of the links I compiled for the NewsFlashr Business Blog Editor’s Picks this week (which are selected from the Business Blog section of NewsFlashr) with a few extra links here. Barry Ritholtz lists the “Six Errors” as written by Princeton Professor Alan Blinder (along with original source) and shares some of his…
With a very volatile week behind us, let’s step back and take a look at the XLF Financial Sector from its 2007 peak to present. XLF Financial SPDR: The XLF actually topped in May 2007, five months ahead of the October 2007 stock market top which underscores the assumption that Financials lead the broader market. …
As I mentioned earlier this morning, the US Equity Indexes are experiencing a strange phenomenon – let’s call it ‘Extreme Triangulation.’ It’s not actually a triangle, but price is being almost entirely contained within the range of the previous day, drawing price to a finely balanced zone. Let’s view this action from multiple sources. S&P…
Just an administrative note, we’re upgrading servers at Afraid to Trade.com as I’ve outgrown my current plan and am transferring the site to the new server upgrade which is complete. I’m sorry if you experienced an error page today. This will allow me to spread my wings more and provide better service to readers. If…