Let’s do a quick check on Wachovia Bank and the XLF Financial Index to see what interesting development has happened this week. First, Wachovia’s (WB) weekly structure chart: Price made a new intra-week low this week, testing just below $24 per share, but it did so on a developing positive momentum divergence (not drawn). The…
If you’re following the intraday charts, momentum seems to be diverging to the upside as selling pressure is waning and buying pressure seems to be picking up, as the shift from supply to demand is comfortably shifting. Let’s look at the 30-minute chart of the DIA: Although it’s clearly a short-term shift, we see at…
Adam Hewison posted a ‘logic grid’ video regarding the INO Television Educational services, which I use and recommend for traders. Entitled, “INO TV, the Logical Choice,” Adam describes the benefits of the videos that comes with membership (only $99 per year or $49 per quarter) that grants you access to over 500 video seminars (90…
Often, the Foreign Exchange currencies markets (FOREX) offer cleaner trends and simple set-ups for astute traders, and I wanted to show an example of one of these clean examples that occurred last night on the Euro/US Dollar cross. (Click for full size image) Even if you don’t trade FOREX, the patterns in this chart are…
When testing a trading strategy or idea, it is helpful to know what the Win Rate (also known as the %Win) is, and what factors might affect this portion of your results. But before we get too deep into the type of strategy you’re examining, it’s important to note the relationship between your profit targets…
We tend to perform better when we set concrete goals, so that we can create a pathway of action to achieving these goals. Here is a quick list of steps to take to set and to achieve daily goals. Here are six steps to set effective daily goals to help guide your routine each day….
The Tyro Trader, who formally wrote for the Tyro Trader Blogspot, has recently launched a new blog dedicated to information pertaining to automated trading “bots” and his experience as he develops and trades an automated system. The new site is entitled “Trading Bots” and has great potential and should hold the interest of those developing,…
We’ve heard the market adage: “Sell in May and Go Away!” but does it really work? Historically, the market has performed better from the October – May period than it has from May to October, but I wanted to show you the last few years starting with 2002 and conduct visual inspection of this strategy….
The VIX (Volatility Index) inflected off 2008 lows and support just as the US Stock Market met resistance, which set up a nice confluence that could have clued you in to odds of lower prices in the broader indexes recently. First, let’s see the Weekly Chart to see when the last time we reached these…
Some traders imagined new life for the US Dollar Index, and while that may be the case long-term, in the short-term, the Index has created a false breakout only to roll back to the downside and could make new lows. Let’s look at the daily chart: While a positive momentum divergence did precede the breakout…