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Updated Arc Patterns on the Daily US Equity Indexes Reference

Bycjrosen

In keeping with the last two update posts on the “Rounded Arc on the NASDAQ April 9” Index (short-term) and Rounded Arc on NASDAQ from March 30, I’ve received a few comments asking about the larger pattern of a rounded arc not just on the NASDAQ, but other equity indexes.

And you’re right – there are large-scale arcs on all US Equity Indexes (Dow Jones, Russell 2000, NASDAQ, and S&P 500) starting with the March 2009 low and moving one-year later to the present.

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Pivot Points for Fun and Profit Intraday SPY Apr 7

Bycjrosen

I’m not a huge fan of intraday pivot points personally, but even I have to admit they can be effective when combined with other methods of finding potential turning points or support and resistance during your intraday trading activities.

Today was a day where standard pivot points worked well at key turning points, allowing you to take off profitable positions (play for a target) or put on new positions (enter at a potential reversal).

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The Rounded Reversal Arc into Key Support on Goldman Sachs GS Apr 5

Bycjrosen

Thanks to a reader for pointing out this near-perfect rounded reversal pattern on Goldman Sach’s (GS) intraday chart, which takes price currently into a key “make or break” support level.

Let’s take a moment to see the Rounded Reversal example as well as the key support price that Goldman is challenging currently.

First, the Rounded Reversal as seen on the 60-min chart:

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SPY Intraday Triangle Breakout Go or No Go April 1

Bycjrosen

A symmetrical triangle consolidation had been forming on the intraday frame on the S&P 500 (and other markets), but this morning, we got a nice breakout of the triangle and test of the prior high.

Now, we have a “Go or No Go” on the breakout (meaning – “Is it a bull trap or for real”) which will be confirmed with a break to new highs… but let’s see the current structure and levels to watch.

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A Comparison of Recent “Unprecedented” Rallies in the Dow Jones

Bycjrosen

You may have been hearing commentaries about the “unprecedented” rally we’re experiencing that doesn’t seem to want to peak any time soon.

I thought it would be a good idea to look back on recent rallies from 1995 forward – using the Dow Jones as a proxy – and compare prior “non-stop” market rallies to the current rally phase off the March 2009 low.

While not earth-shattering, the charts did turn up some interesting observations. Let’s see them.

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Rounded Reversal, Dual Divergence, and Trendline Breaks SPY Intraday Mar 25

Bycjrosen

Wshew! The day’s not yet over, and we’ve already had a ‘dual negative divergence,’ Rounded Reversal, trendline fake-out, and a potential ascending triangle forming.

Let’s take a quick look at these set-ups and how they played out, along with where we are right now.