The major Commodities Markets were not spared the rampant volatility of last week’s price action. Let’s take a look at some of these key markets: Let’s look at the broad-based $CRB, a widely followed Commodity Index (weekly chart): I have drawn three blue lines which are indicative of the “Three Push” pattern which can precede…
Traders expressing themselves through the InTrade Prediction Market today raised the chance of a US Recession in 2008 up 8% to 78.5%. The way the market works is that traders invest real money and buy contracts that allow them to express their opinion. Here is a quick explanation: If you’re interested in seeing the lifetime…
I wanted to point out a quick little pattern in Apple (AAPL) on the 5-minute chart today that I found very curious. I zoomed in on the area of interest. Notice how the 5-minute bars respond virtually perfectly to the falling 50 period moving average and the rising 200 period moving average. What’s interesting to…
INO.com released a recent video in their Trader’s Whiteboard Education Series that puts simple trading ‘theory’ into practice. The video is entitled “Keep it Simple and Straight” and discusses specific examples of how to apply trendlines and turn trendline analysis into actual trades with high reward to low risk (stops are placed just beneath the…
Gold plunged almost 6% yesterday, falling $59 as hedge funds unwound positions and speculators took profits in the precious metal. It’s an interesting development that warrants further attention. I’ve drawn in two symmetrical consolidation triangles on the graph that highlight these patterns and the continuation move that occurred as the contract broke free from these…
Today’s near 300 point Dow Jones decline also printed a potential “Bearish Engulfing” candlestick pattern at resistance, which could signal more bearishness is ahead. Let’s look at the Daily chart and drill down to the smaller time frames: The Bearish Engulfing pattern occurs when the second day completely overtakes the previous day’s high and low….
Dave Mabe at StockTickr recently interviewed me and posted the interview at his StockTickr Trader Interviews site, and I wanted to share the link with you! I was very excited and honored to participate, and I really had to do some soul-searching on some of the questions. As a teaser, he writes: For the next…
The Financial Sector (XLF) has been featured majorly in the news recently, so let’s take a quick fly-by of this sector and see where we’ve come. First, the shocking monthly chart: Very rarely do you see declines of this magnitude occur this quickly (in about one year) in a major US Sector. The Financial sector…
Tuesday’s volatile rally was impressive, amassing over 4% for almost all major US Market Indexes. Where does that rally take us on the charts? First, let’s look at the returns: Now, let’s view a few charts, noting the potential overhead resistance that must be cleared to be able to get more bullish: The level just…
Unless the Fed Cut shocks markets to the downside, Goldman Sachs (GS) will post an incredible rally today. Yesterday, the stock traded as low as $140, and today, we’ve reached intraday highs of $171. Let’s look: Earnings today beat estimates. Analysts expected a profit of $2.58 per share, but were surprised with reports that Goldman…