I assumed this scenario was decreasing in terms of probable outcomes but this morning’s upside gap and EMA break – so far – puts the “February Pattern” back on the table. I first asked this question on May 26th in the post “Will February SP500 Pattern Repeat and Show the Future?” Reference that post before…
For those of us who enjoy Bollinger Bands on our market charts, you’ll also enjoy Standard Deviation Bands… which are just extra Bollinger Band lines. For reference, the Bollinger Band indicator takes the 20 day simple moving average of price and then calculates – draws lines – two standard deviations (a volatility indicator) up and…
I along with many other bloggers have been highlighting the recent rally that continues to form lower highs in market internals, volume, and momentum. I’ve updated on the status on internals yesterday, but now let’s take a specific look at the SPY in relation to 15-min volume and momentum: The question I asked was “Just…
That is the question! Price is one part of the equation, internals (volume, breadth, TICK, etc) are another. Before I show the charts, realize that price is king, and that price moves according to supply/demand imbalances between buyers and sellers, and everything else we use (indicators, internals, etc) are there to help us see the…
Now this is interesting – Chipotle Mexican Grill – CMG – is currently a popular, high-flying restaurant stock that I’ve been hearing mentioned around the Trader’s Expo here in Los Angeles. Naturally, I had to take a look at the chart. It’s at a very interesting inflection point, and it warranted a blog post to…
With Volatility increasing in the stock market, investors/traders are paying more attention to the Volatility Index, or the VIX.
Let’s take a look at the key reference levels, starting with the 2007 market peak to the 2009 market bottom, and the recent April 2010 market peak and draw some interesting comparisons.
For the second day in a row, we’ve had an afternoon reversal rally after prior divergences in internals – that’s unusual but it does happen and it can reveal the character of the market. It’s also a lesson in active trade management. Let’s look at the Reversal and the “Popped Stops” Play that followed: To…
Here we go again – from the looks of it, price is forming another classic Rounded Reversal Pattern complete with negative divergences, which would forecast a retest of 1,040. Let’s see what levels to watch that would confirm or disconfirm that view from a chart perspective: (Click for full-size image) Quick commentary shows us the…
It’s days like this that the broader investing public learn the benefit of even simplistic technical analysis and levels to watch.
You don’t have to be a chart wizard to know key levels to watch that are likely turning points in a market.
Financial companies caught a strong bid this morning, rallying sharply despite news that Congress (the US Senate) cleared a hurdle to approving the Financial Regulation Bill.
Chart-wise, leading stocks like Goldman Sachs (GS) and JP Morgan-Chase (JPM) were at absolute “make or break” support levels… and so far, they’ve held. Let’s see them.