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The Positive Relationship Between Short Term Rates and the Dollar Index

Bycjrosen

I wanted to highlight a few quick recent charts of how the US Dollar Index positively correlates (moves in the same direction) with the 3-month Treasury Bill Discount Rate.

It’s not the most fascinating topic, but it’s definitely important to know of this relationship, so let’s take a look at a couple of recent charts.

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Market Internals Warn of Sudden Reversal SPY Mar 3

Bycjrosen

Yet again, we’re seeing a situation where we have a multi-day decline in the three-key market internals when compared with the price of the S&P 500 or SPY ETF.

That sets up a major non-confirmation and increases that odds that we’ll see a price reversal/retracement to test lower levels, barring any unforeseen bullish news here.Yet again, we’re seeing a situation where we have a multi-day decline in the three-key market internals when compared with the price of the S&P 500 or SPY ETF.

That sets up a major non-confirmation and increases that odds that we’ll see a price reversal/retracement to test lower levels, barring any unforeseen bullish news here.

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Join Corey’s Wednesday Webinar on Trading Intraday Momentum and Internal Divergences

Bycjrosen

I wanted to invite you to a special webinar event I will be conducting Wednesday, February 24, 2010 just after market close at 4:30 EST / 3:30 CST entitled “Trading Intraday Momentum and Market Internal Divergences,” sponsored by Trader Kingdom and Mirus Futures. While divergences can produce powerful signals of a likely market turn ahead,…

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Apple AAPL Update: Daily Support but Monthly Bearish Engulfing

Bycjrosen

Apple (AAPL) investors rode a roller-coaster of news and stock price action last week, culminating in a massive sell-off in four days from the $215 area to the present $190 level. Let’s take a quick look at the Daily chart to highlight a key support level and then link to a video analysis by Adam Hewison who notes the “Bearish Engulfing Line” on the Monthly frame.

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Corey’s Price Principles Webinar Now Available to View

Bycjrosen

I’m pleased to announce that Tim Bourquin has posted the full video of Tuesday’s webinar “Price Principles to Enhance Your Trading Edge in Any Market” at his TraderInterviews.com website. You may click on the image or the following link to view the presentation in its entirety without registration. Once at TraderInterviews.com, Click play (on the…

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MultiDay Check on SP500 Market Internals on Jan 6

Bycjrosen

It’s time for another check-up on intraday market internals in the S&P 500! Market Internals – looking under the hood of the market – can help warn (foreshadow) turns in price in advance. As such, it is important to keep tabs on key market internals as an intraday trader, or even for a swing trader.

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A Look at the Yield Curve at Market Tops and Bottoms

Bycjrosen

Let’s take a quick look at the current “Yield Curve” courtesy of StockCharts.com’s “Dynamic Yield Curve Tool” and then compare this curve to the market peak in 2007 and the market bottom in 2003 – you might be surprised.

Remember, the Federal Reserve can ‘set’ short-term rates by altering overnight interest rates, but the economy generally sets the yield at the longer end of the curve, such as the 20 and 30 year yields, which are much less volatile than 3-month or 1-year rates.

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Long Term Monthly Fibonacci Levels to Watch in the NASDAQ

Bycjrosen

Per a reader’s comment, I wanted to show a quick reference grid of the NASDAQ Index stretching back to the 2000 peak above 5,000 and show three dominant Fibonacci Grids to watch as price moves into the future.

Let’s see the 10-year grid, starting with the 2000 high and stretching to the 2002 low.

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Year to Date Elliott and Momentum Look at the Dollar and Euro Indexes

Bycjrosen

With a major trend shift potentially occurring in both the US Dollar Index and the Euro Index – both inversely correlated – let’s take a look at both of these currency indexes and observe their multi-month positive momentum divergences along with a likely Elliott Wave count.

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Updated Gann Fan Grid of the SP500 Dec 18

Bycjrosen

In following up on last night’s post on the “Gann Fan and Volume Update on the S&P 500,” I wanted to show a quick updated “Gann Fan” Grid of the S&P 500 – it’s also showing a critical level to watch at the 1,120 level which is – as we all know – a major inflection point in the market. Let’s take a look.