In classic nature, oil stocks led the recent oil price decline, further giving clues that oil prices were in for a correction of some sorts. Let’s take a look at Exxon-Mobil (XOM) and Chevron Corp (CVX) and the recent price of Crude Oil Exxon-Mobil (XOM): XOM peaked at $95 per share (closing price) in early…
What has Apple Inc (AAPL) been up to in terms of price action lately? Are we coming up on a fresh buy signal? Let’s look closer. Apple Weekly: Price has formed a lower swing high, but has pulled back and held up (especially given a drastic June and July in the broader indexes) in terms…
With the talk of the Financial Crisis getting more attention in the media, let’s look at the long-term chart of the S&P Financial Sector and the XLF (AMEX Sector SPDR). S&P Financial Monthly Index: XLF ETF: What we’re seeing is a massive collapse in share prices and trend. Price has now made new monthly lows…
If you’ve been caught in the day-to-day activities of your trading, take a moment now and look at the larger picture of the primary (or broader) trend of the major US Stock Market Indexes – the S&P 500 chart looks eerily similar to the beginning of the 2000-2001 decline. Let’s look quickly at the Fibonacci…
Monday’s trading was surprising both to bulls and bears – opening with a large overnight gap which was quickly faded, and price closed near the lows of the day. Let’s look at the structure and possible trading opportunities that presented themselves. DIA 5-min chart: With price opening with an overnight (over-weekend) gap, odds are favorable…
We have all heard the headline reports about energy prices skyrocketing in 2008, but what have the other commodities been doing in terms of percentage returns? Let’s take a quick look at Agriculture, Metals, Energy, Livestock, and the CRB Index for their standing now that half of the year has passed. Commodity Percentage returns so…
Adam Hewison of Market Club recently released a brief educational video that details the fall in these stocks and what it might mean for the larger picture in his video released today entitled, “Freddie Mac and Fannie Mae: Twin Disasters.” Hewison states in a post accompanying the video: “Even after Treasury Secretary Henry Paulson made…
As mentioned previously, Gold prices broke out of a triangle consolidation pattern and now appear headed to their price projection target of $1,000 per ounce. Let’s see how this is possible. First, gold prices have clearly entered a consolidation pattern, no matter how you draw the trendlines. Price swings are overlapping and truncating at closer…
Friday’s action was important, in that breadth declined to new lows for the year, which certainly isn’t good news for the bullish camp. Let’s look at a few charts and different perspectives on what this might mean. First, the weekly chart of the NYSE New Highs minus New Lows overlaid against the backdrop of the…
Friday’s intraday action in the major US Indexes was nothing shy of stellar, given all the potential economic turbulence that set-up during the day. Let’s look at the DIA – Dow Jones ETF 5-minute chart: The day opened with news that Freddie Mac (FRE) may be in severe trouble, and then rumors of a financial…