Let’s take a quick mid-day check on the market and market internals on what’s shaping up to be a trend day down. Today so far has shaped up to be a trend day. To keep that bias going, we’re going to have to see new TICK lows on any new price swing to new intraday…
I wanted to start the week by looking at the Dow Jones Industrial Average ($INDU) and noting a “doji sell signal” that has formed after a week-long rally that has formed negative volume, breadth, and momentum divergences.
Let’s take a quick mid-afternoon look at the current market using the SPY (S&P 500) as our proxy – noting the chart structure and internals as captured at 1:30 EST on September 11th.
My weekly ‘Editor’s Picks‘ for the NewsFlashr Business Blog section are now online. Here are this week’s “Top 8” picks: Trader Feed shares thoughts on the psychology of trading in Secondary Anxiety and Trader Performance, which is helpful for traders and investors who have suffered losses over the last few months. Stock Trading to Go…
I’m finding the “Diagonal, Wedge, Trend Channel, or Rounded Reversal” discussion to be interesting, and so I thought I’d take a moment to define what a Leading Diagonal and Ending Diagonal are as defined from A.J. Frost and Robert Prechter’s Elliott Wave Principle book. Let’s start first with an Ending Diagonal: According to Robert Prechter…
It’s finally here! Dr. Brett Steenbarger’s much-anticipated new book “The Daily Trading Coach” or “101 Lessons for Becoming Your Own Trading Psychologist” is now available for purchase from Amazon.com (for only $30). This is the book most of us have been anticipating since the end of last year – it’s an extension of his daily…
You might ask “How can that be possible?” The XLF Financial ETF is down roughly 30% year to date, but the SKF (as of March 24), which is the double inverse (short) leveraged Financial ETF… which you would think would also be up 60%… is also negative: down 3%. Let’s see the performance year-to-date up…
Let’s take a quick look inside the recent “Wave 5” Downswing that began in early January 2009 and look at two majorly important Fibonacci Confluence Zones that have developed inside that structure. (Click for larger chart view) What we’re seeing is an exact Fibonacci Confluence at the 770 area on the S&P 500, though it’s…
I wanted to invite readers to join me at the Los Angeles Trader’s Expo from June 3-6 2009 – I’ll be speaking there in a seminar entitled “Idealized Trading Tactics for the Intraday Trader.” For full details, visit the Los Angeles Trader’s Expo home page (for details and free registration) to see the full schedule…
Each week I do an update on the “Editor’s Picks” Links from NewsFlashr’s Business Blog section and here are this week’s selections: Mish takes a look at the changing attitudes of Baby Boomers as they face retirement with portfolios that have now declined 50% or more from their peaks. “Boomer’s Futures Went Down the Drain”…