Did you learn the lesson I showed this Wednesday entitled “Using TICK to Forecast Intraday Reversals?” If you didn’t, here’s yet another chance to learn the important lesson – as history repeated the set-up/pattern almost exactly today that formed on Wednesday. Let’s look at today’s chart as another example of this critical concept: Click for…
I wanted to document what the TICK had to say about today’s sharp reversal and lunch-time market drop. The TICK gave a classic “One-Two” Punch Warning Signal… and if you missed the signal, take a moment to look at the chart of the SPY and TICK and learn what the TICK had to say and…
I’m a big fan of using market internals as a source of “under the hood” confirmation/non-confirmation when charting new swing highs in the S&P 500 index. Let’s take a look at the “Triple Threat” market internals and then take a longer-term perspective of breadth in the current market environment. First, the “Three Main Internals” 5-min…
Did you know that Cotton prices have more than doubled since the September period when the first rumors of QE2 were released? Cotton is a market most of us never chart, but it’s doing something interesting right now in terms of a Three Push Pattern and nice Bearish Engulfing Candles. Let’s take a look at…
With multi-swing divergences happening in the US Stock Market, what is the similar picture like on the inversely correlated US Dollar Index? As it stands now, it’s bullish but in its earliest stages of potential life. Let’s take a look and learn a quick lesson in confirmation via a simple inter-market cross-check. The US Dollar: …
I posted yesterday about the precarious internal situation regarding market internal and momentum divergences at the key major resistance level 1,300. Today the divergences ultimately mattered and the market snapped-back like a rubber band early in the trading session, after slipping up into one of the most vicious bull traps in a while. Let’s take…
Exxon-Mobile (XOM) has been one of the strongest performers in the Dow Jones index lately, and the rise correlates in part to the QE2 stimulus effects, giving us a great lesson in both charting breakouts and “stock-specific” narratives, or even broader market narratives. Let’s start with the monthly chart and then drill down to the…
I always like doing “Step-Inside” analysis with trades and price structure, especially when combined with a known reference level on the higher timeframes. Let me walk you through a very good recent example of setting up and trading two specific high-probability, low-risk opportunities in the UUP – US Dollar Index EFT (lesson would be the…
I think it’s important to document interesting examples of trading concepts played out during the day, as it serves both as an educational reference and deepens our knowledge about these concepts, which helps us to trade better the next time a similar set-up or opportunity unfolds in real time. A great educational example – and…
Wow – you don’t see these sort of “Mirror Image” patterns that often, but they are stellar when they set-up and complete. Let’s learn some quick lessons you can apply to the future from the recent intraday 30-min Head and Shoulders price pattern reversal – with perfect divergences – and the trade that accompanied the…