Are We Reliving 1982 or 1975?
Are we reliving the “Melt-Up” scenario of 1982? Or is it more like 1975? Both? Neither? Let’s take a look to see if we can draw parallels.
Lessons from Dendreon DNDN
I wanted to share the chart of Dendreon DNDN and some links to other news stories that try to explain what happened and what we can learn from it.
Another Powerful Trend Day Befalls Us
To say I was impressed with the bullish action today is an understatement – I was astonished at the strength! Let’s look inside today’s intraday action to see how the Trend Day structure developed and what opportunities existed for profit – knowing how to trade a trend day can make the difference in a large loss or large profit the next day we get one.
Large Scale Elliott and Fibonacci Insights on GE
Conglomerate General Electric (GE) has shown fascinating confluence via Elliott Wave and Fibonacci (as well as “Measured Move”) analysis. Let’s see what I mean and start the count from 2000 to present on the monthly chart. First, let’s see the simple AB=CD “Measured Move” (aka large bear flag) that has just hit its target: I’m…
Fibonacci Confluence in the NASDAQ May 1
Let’s take a quick look at the levels of Fibonacci Confluence in the NASDAQ Index as we start May, 2009. The Fibonacci grids I’ve drawn begin at the 1,280 March low level and connect three key swing highs – the colored retracements are the result of these levels and we are looking at the confluence…
Massive Internal Divergences Predict Intraday Trend Reversals
Using today’s price action so far as an example, let me walk you inside the price action for April 30, 2009 in the SPY to discover that massive TICK, Breadth, and Momentum divergences all formed, clueing you in that a price reversal was far more likely than price continuation. Let’s walk through the market internals…
Lessons from Goldman Sachs GS Daily Chart
Goldman Sachs (GS) is coming into Fibonacci resistance on a negative momentum divergence. Let’s look at this current development as well as learn a few lessons – such as a clear “Three Push” example – on its daily chart. (Click for larger image) First, let’s look at the “Three Push Reversal” pattern that formed on…
Elliott Wave and Double Divergence Set up Great Trade in SPY April 27
There I go again with the long titles, but I had to fit it all in. Today, there were two excellent trading opportunities I wanted to highlight in today’s intraday structure. One was a “buy the 4th wave” into confluence support (with a TICK divergence) and the second was a “sell short the 5th wave”…
Three Push and Cradle on SPY Intraday Apr 23
I wanted to highlight the Three Push Reversal Pattern which led to the Cradle Trade on today’s intraday SPY chart. Let’s see these trade set-ups! I’ve done something a little special for you in tonight’s post. I get a lot of questions about my “3/10 Oscillator” I use so I wanted to show you how…
Head and Shoulders Now Forms on SP500 with Rising Wedge Break
That’s a lot to say in one headline! In addition to a (so far) confirmed downside break of the bearish rising wedge on the S&P 500, an ominous Head and Shoulders pattern has now formed on the 60 minute structure. Let’s take a look at this new development. If there ever was a confluence sell…