The Potash POT Plunge of June 17
Potash (POT) fell 11% on June 17th, slicing through daily support and inflecting down off the 38.2% weekly Fibonacci retracement. Let’s see all this up-close and learn a few lessons from this price movement.
Weekly Comparison Charts of Ten Year Yields and SP500
With the recent rally in 10-Year Treasury Yields (falling note and bond prices), I thought it would be a good idea to show you the trend comparisons between the Yield and the S&P 500 – it’s more aligned than you might think.
Multiple Convergences Mark Intraday Low Lesson
Yesterday, May 21st offered an excellent opportunity to demonstrate how multiple confluences of non-correlated methods can lead to powerful intraday turning points – in this case, the absolute price low of the day. Let’s take a look at how we could have known with a high degree of confidence (but not certainty) that $88.25 was the absolute pivot low that preceded a powerful rally in the SPY (and similar structure to the QQQQ and DIA ETFs).
Perfect Intraday Elliott Wave Example and Lesson
The deeper I get into the Elliott Wave method, the more I am impressed with how frequent its patters show up across all timeframes almost identical to the teachings of Ralph Elliott 70 years ago. Let’s take a look at a perfect Elliott Wave pattern – complete with ideal fractal waves – on the intraday SPY for May 20 and 21.
Internal Indicators Bullish Prior to Close May 11
to highlight something interesting I’m seeing in the Market Internals for May 11th in the S&P 500 (SPY). So far on this rangebound day (following a gap-down), the Market Internals (particularly TICK and Breadth) have been biased to the upside.
Intraday Leverage Ideas
With the day’s action complete, let’s look at the key points you could have added to a core position, or traded for quick scalp profits during the highly expected downswing in the market today: First, there was a prevailing bearish bias going into the day from the structure of the daily chart on the Indexes…
Gap Fade Becomes Bear Flag
Today’s trading so far has been a dream come true for me. My two favorite patterns have played themselves out ultra-cleanly and as close to text-book as you can get. Let’s see what I mean: Earlier, I pointed out the Gap Fade Trade the market gave us like a gift this morning. The market wasn’t…
AAPL Pulls Back for a Potential Buy
Apple Inc (AAPL) – from a technical analysis standpoint – may be retracing enough for a potential buy signal, as I had highlighted previously. Earlier in my post “Apple Continues its Ascension,” I hinted that APPL could be a potential buy if it were to pull back to the $140 area into moving average support….
Goldman Sachs Divergence Trade
It seems the divergence setup is becoming one of my favorites as well. Goldman Sachs (GS) recently exhibited a lengthy divergence with a snap resolution today on the smaller timeframe, which may bode well for the stock in the short term. Let’s look: Typically, a divergence sets up a small target trade (retracement only), but…
AIV – An Example of an Explosive Divergence Resolution
It’s always great to see the resolution of a classic trade, if for nothing else than for an educational resource. AIV (Apartment Investment and Management Co) recently resolved a lengthy buy divergence in a fierce way: Typically, divergence trades are only good for a small, counter-trend target, but lengthy, multiple swing divergences can frequently precede…