There is a multi-swing positive momentum divergence and perhaps a new set of higher highs and higher lows developing in the CRB (Commodity) Index – but might this lead to a reversal in price? Let’s look: $CRB Commodity Index Daily: We have a confirmed and persistent downtrend in price as evidenced by lower lows and…
With the end of the weekend near, I thought it would be a good time to go over some of the selected blog posts of the week, courtesy NewsFlashr’s Business Blog section. Mish lays out a case that argues how ‘social mood’ will help shape the future in terms of retirement, inflation, government intervention, etc….
Let’s take a moment to look at the intraday action on Friday in the XLF (Financial Sector ETF) and then see how that played out on the daily chart structure – hint… we had a non-confirmation with the US Equity Indexes which you might want to view. XLF 5-min Chart: We began the day with…
Though we’ve been in a bear market for over a year now, there are a few pockets of relative strength. Let’s look at the Top Ten S&P 500 stocks that are either making or are closest to their 52-week highs. Apollo Group is the only stock in the S&P 500 currently making a 52-week high. …
Today provided a plethora of material to discuss in terms of the “idealized intraday trading” set-ups, so without further delay, let’s look at these on the DIA 5-min intraday chart: The day started off normally (no gap), given that Apple’s announcement that Steve Jobs was taking a medical leave of absence brought expectations of a…
It’s time again to look at the simple Gap-Fade statistics for the month of December 2008! Let’s compare gaps on the DIA (Dow Jones ETF). First, the graph, showing the trigger size for a ‘gap’ at $0.30 (roughly 30 Dow Points): Of the 21 trading days in December, 19 showed some sort of overnight gap,…
We need to pay attention to what the Financial Sector is doing on its charts because it has a tendency to lead the broader market, and many eyes are focused on news from this sector. Let’s take a quick look at the Daily and Weekly charts of the XLF. XLF Weekly: A quick overview tells…
I thought I’d do something a little unique tonight and describe Apple’s trend day down today and then show the daily chart structure. With everyone now discussing Apple CEO Steve Job’s departure announcement today, I thought it might be nice to see the technical structure and explain how news events like this can instantly destroy…
Adam Hewison of the Market Club just released a new video entitled “Making Money in FOREX” where he describes some of his experiences in FOREX and also analyzes the EURUSD Cross (Euro and US Dollar). I always try to share these videos with you due to their educational nature and simple, introductory explanations. Hewison and…
From a technical analysis standpoint, we’re officially on course today to test or break beneath the November 2008 lows in the US Equity Indexes – it’s now the highest probability play. Let’s see that development on the Weekly and Daily charts: Weekly S&P 500: First, is it a certainty? No, but I’ll make the case…