The folks at EWI (Elliott Wave International) released a provoking new article today entitled: “Blaming Market Manipulation for Losses is a Huge Obstacle to Success.” The article encourages traders to take responsibility for losses instead of finding scape-goats to blame. Losses may have just been the result of a bad outcome from a high-probability trade……
The prior “Arc Update” posts have generated a lot of attention, and I wanted to continue that series with updated charts that answers a question that a few readers have asked:
“What would the arcs look like on Logarithmic Charts?” instead of the default arithmetic charts I’m showing.
Reference back to the prior updates for comparison, especially:
In following up from this afternoon’s post, I wanted to show a grid of the main nine AMEX Sector SPDR ETFs distance from the 2007 (or 2008) high, as a gauge of the recovery (and distance to new highs as of April 6, 2010).
As a follow-up from my prior “Best of 2009 Part 1” post, I’m pleased to present Afraid to Trade’s best posts of 2009 Part 2, spanning from February to March 2009: Educational Set-ups/Patterns: 5 and 15 Minutes of Downside Doom in the DIA Extreme Divergence and Rounded Reversal in USO US Oil Rounded Reversal in…
Those who know me know that one of my favorite price patterns is the “Rounded Reversal” or “Rounded Arc” pattern, one of which is forming clearly now on the NASDAQ Index. Let’s take a look.
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.
In another “Hmm, That’s Interesting” post regarding prior market historical pattern, there is an eerie similarity in the rally that ended with the market peak in 2007 and the current rally into 2010. Thanks to a blog reader for pointing out this comparison to me. Let’s take a look at the S&P 500 and Dow…
I always enjoy highlighting ‘mirror image’ or ‘measured move’ price patterns on charts, and we have the potential for a resolution to the downside to test prior support if the current price structure completes the ‘reflection’ portion of the pattern.
Main idea – let’s watch the price closely over the next few days to see if this chart pattern completes as expected:
I wanted to share another “Chart Art” post using two advanced technical (charting) methods on the S&P 500, which has been containing the recent rally quite nicely within its bounds.
Let’s take an updated look at the Gann “Square of Nine” trendlines and the default Andrews Pitchfork Tool:
While the title might not sound that interesting, it can be important to watch “Angular Momentum,” or in simple terms – the change in the angles of rising trendlines – of the current SPY and S&P 500 intraday charts, which highlights an important point about the recent rallies.
Let’s take a look at the recent “Angular Momentum” chart and see what I mean: