Well, folks, the bulls have done it again – it looks like buyers have sprung an amazing fifth Bear Trap in the last few months that – if recent history repeats – will lead to another new high in the S&P 500.
Let’s take a look at the prior four traps that led to new highs:
I wanted to do an update post on the infamous Natural Gas fund UNG, now that it has (almost) completed a test of the prior lows as mentioned in my prior post entitled, “A Weekly and Daily Chart View of UNG on October 28th.”
Let’s see the daily chart spanning back to the beginning of 2009… and witness the stellar drop from $25 per share to $9.
I’ve been watching Goldman Sachs (GS) closely as a barometer for financial stocks and thus the broader market for some time now, and the stock faces a critical area to overcome to continue on its upward trajectory.
Let’s take a look at Goldman Sachs’ daily chart to note the overhead EMA resistance that is bearing down to form a potential Bearish Cradle Sell Signal.
There were eerie similarities in today’s Fed Day action and that of September 23 in form and structure. Let’s compare these two days and focus mainly on price action and reaction.
If you’re ever been puzzled whether or not to use a logarithmic or arithmetic chart and how to interpret trendlines, you’re not alone. Let’s take a recent look at Goldman Sachs (GS) and compare the different up and down trendlines on both scales to note the key differences and insights from both.
I wanted to follow-up from this morning’s post in highlighting the TICK and Momentum Divergence concept and note that we had two additional examples of the concept – making that three clear examples of the trade set-ups and possible trend reversals that can come when momentum and TICK divergences form intraday.
Today’s morning session gave us another excellent example of how TICK (internals) and Momentum divergences can precede intraday reversals… or at a minimum, fail to confirm new price highs on the session which is a warning sign that traders can sometimes miss. Let’s take a quick look at this example and the lesson it brings.
With Amazon leaping 27% Friday to an all-time high, it’s certainly a good idea to take a look at its current chart to see the progression that led to this move. Let’s take a quick look at Amazon’s (AMZN) weekly and daily chart.
Here is the transcript from Part 2 of my recent interview with Larry Connors of TradingMarkets.com. Be sure to read the First Part of the Interview if you have not done so already prior to reading part 2 here.
I’ve been showing in past posts about the dominant “Andrews Pitchfork” chart on the daily S&P 500. Let’s take a mid-October update of the current Andrews Pitchfork style chart of the S&P 500.