Wednesday has arrived and departed, and now it’s time for the Mid-Week Overview of the Major US Indexes! I always start with the Dow: Price broke to record highs (haven’t you heard it enough in the media?) Price is seeming to complete a downswing (or counterswing) Price is above a significant trendline area Price is…
Some say that “going short” is more dangerous than being long – I’m open to debate the question, but I do like to point out charts of interest that show interesting situations that warrant further attention. Such is the case in Pulte Homes. We hear on the news just how horrible, unprecedented, catastrophic the housing…
David Merkel at the Aleph Blog takes an interesting approach to what might happen if the US Government or Federal Reserve decides to embark on a “Currency Intervention” to “save” the US Dollar, which is making new lows almost daily it seems. Merkel lists four conditions – or rules – for what might happen for…
I don’t make it a habit of posting links to sites or discussing content that does not relate directly to trading, but I felt I should pass this on to readers and traders who – invariably – are using a computer to read this article or trade the markets. A recent article at Yahoo stated…
The Trading Goddess has invited me to be one of three new contributors to her blogsite and I have accepted the invitation! The post announcing the three new contributors is located here: “Announcing Three New Contributors” I will be contributing this week to the site, but wanted to highlight a few excellent contributions recently posted…
This Month’s edition of Stocks, Futures, and Options Magazine focus on Day Traders, including strategies and realities, and how the activity has evolved since the 1990s. Specifically, articles include, “Day Trading: Too Much to Get Nothing?” “The Evolution of a Day Trader” “Day Trading with ETFs” (Article has a special place in my heart! It’s…
There is a bit of ominous information for the Stock Market in terms of the recent non-stop rally in the $CRB Commodities Index that occurred both before and after the September 18th US Federal Reserve rate cut. The Federal Reserve is vigilant in its campaign against inflation, and rising commodities prices are often used as…
Some traders love the esoteric ‘magic’ of the Fibonacci Retracement Lines, which are becoming more and more popular in trading circles. Fibonacci Retracement Lines are available in most charting platforms, including the free site StockCharts.com. The ‘hard and fast’ rule for constructing a retracement is to choose a meaningful price swing high and then draw…
Sometimes you see a stock chart that grabs you attention and makes you wonder “How!?” National Oil-well Varco (NOV) is such a company. Words only detract from the uptrend beauty that is on this chart: Weekly Arithmetic Chart (NOV): Weekly Logarithmic Chart: Daily Logarithmic Chart: Absolute perfection. Observe the near perfect 45 degree angular rise…
Often, technical analysis alone is not sufficient to analyze properly the movements in the broad market Indexes, like the S&P 500 or the Dow Jones Index. Traders benefit from the larger picture of analyzing broader, interconnected perspectives from studying inter-market relationships and how markets are often intertwined, and send signals ahead of each other. Without…