Let’s take a look beneath the market to see what ‘idealized trades’ set-up within the intraday price structure of the DIA for Tuesday’s trading – then let’s view the day through the lens of a 5-minute Elliott Wave count that could have helped guide our trading day. DIA 5-min chart: First, the day began with…
One of the beneficiaries of lower crude oil prices has been airlines companies, as evidenced by the $XAL Airline Index. Let’s take a look at these developments and what’s happening to the Airline Index right now. $XAL Airline Index Weekly: The index is currently testing against overhead resistance via the flattening 50 week EMA, but…
We’ve witnessed absolute destruction in the price of crude oil and in other commodities in such a short period of time. However, the situation might be changing and aggressive speculators might find a significant low-risk opportunity should crude oil find support at the well-established level of $40 per barrel. Let’s see this and how it…
Here’s a chart you might want to save as a reference in terms of overhead possible Fibonacci resistance levels and their respective confluence zones. The graph takes the S&P 500 swing highs and runs corresponding Fibonacci retracement grids all to the most recent 750 spike low in November and highlights areas of Fibonacci clusters. Let’s…
As expected, it looks like the current price action as of Monday morning is confirming the large-scale Elliott Wave Count that we have freshly entered a corrective Wave 4 up-swing in the market, which could continue into the end of the year. Let’s take a look at the large-scale count and see which price targets…
A reader asked for my take on a potential Elliott Wave count for the 10-Year T-Note and here is my current interpretation of the possible Elliott Wave structure building there. Let’s look at the yield chart and then the price chart (which are of course inverse). 10-Year T-Note Yield: The longer timeframe Elliott count is…
File this under “In case you missed it.” The 10-Year Treasury Note price has surged 12% in just over a month, as investors surge to the safety of treasuries. Subsequently, yeilds in these safe investment vehicles has plunged dramatically. Let’s look at the 10 year note price, and then see the 5-year note and 3-month…
They’ll get you every time. Today’s intraday stock market action was an excellent example of the “rounded reversal” day concept in action. Let’s see it in the DIA and how we might have managed risk and traded it. DIA 5-min chart: The day started with the news that the market moving “Jobs Report” showed a…
Chicos Fashion (CHS) was an ‘on-fire’ and in-demand stock a few years ago, but recently, the stock has soured along with the broader retail sector, driving many stocks to multi-year lows and wiping some out of the market completely. Let’s take a look at CHS to note the full Elliott Wave progression, and then compare…
The first of the month means it’s time to look at the performance of overnight gaps on the DIA! November was a particularly volatile month, with the average overnight gap being around $1.00 (100 Dow Points). Let’s look at the percentages and numbers of filled and unfilled gaps for the month. Gap Fill Chart: Trading…