I describe trading candidates and possible action for selected, low-risk trade ideas to review.
I’ve been discussing this concept behind the scenes but wanted to share a little insight with this morning’s example of broken resistance leading to a break-out (along with a great triangle example!). Let’s take a look:
I’ve been slipping in some of my behind the scenes “Chart Art” posts that have been received well so I thought I would share another simple Arc and Andrews Pitchfork “advanced technique” analysis on Intel (INTC) which appears to have come into a possible inflection point. Let’s take a look.
On Monday evening, I highlighted a reader’s question on Whirlpool (WHR) in the post “Doji Sell Example in Whirlpool.” The question was “I got short off a doji but price kept rising – what happened?” Please see the prior post for the answer and my analysis.
A reader asked me a very interesting question this evening that I wanted to discuss with you all (with permission).
The question was in regards to a perceived sell signal in Whirlpool Corp (WHP) due to a doji candle after a large run-up. The question was “Why did the doji fail?” Let’s take a look:
The current S&P 500 60-minute structure (and SPY) give us valuable lessons in two ascending triangle breaks and multi-swing divergences. Let’s see what we can learn from this chart.
Today’s price action held a lot of lessons for apt traders – let’s take a look at the SPY (US Market proxy) and the intraday chart to see what quick lessons we can learn from today’s price action – technically a Trend Day Down.
We’re seeing a very similar situation in IBM’s Weekly and Daily charts that I highlighted in a prior post on RIMM (RIMM: Bullish or Bearish? Depends on Your Timeframe).
If you look in isolation at IBM’s Daily chart, you might want to get aggressively short right here right now thanks to a breakdown of support; however, if you look only at IBM’s weekly chart, you might want to get aggressively bullish thanks to confluence support. What does a trader do? Let’s take a look.
I wanted to share with you something I’m paying particular attention to – the TICK, Breadth, 3-Push Momentum Divergence, and Volume Divergence we’re seeing at these intraday levels in the SPY (and other US Market ETFs). Let’s take a quick look to see what this might mean so that we can be prepared if prices start falling from these levels.
Each day I write a ‘daily summary’ I call my “Idealized Trades” reports (which will be available for subscription by next week) and I wanted to highlight a few lessons from today’s (June 22, 2009) intraday Type III “Trend Day Down” in the SPY 5-min chart.
I thought I’d try an experiment with the 10-Year Treasury Yields Long-Term Chart and apply a little Gann analysis in terms of squaring price and time to see what the result might be.
Here’s the “chart art” from my experiment which probably should be filed under “Interesting” as opposed to “Actionable.”