I wanted to thank a couple of readers who brought to my attention the Fibonacci retracement grid from 1975 to the 2007 highs in the Dow Jones Industrial Average which recently has interesting if not outright actionable information regarding the current structure and possible large-scale inflection point (support) we just tested. Let’s look at this…
This trading week so far has been an absolute disaster for long-only investors. Let’s take a look at the current Dow Jones structure and see if we can pick up any clues on what might be in store next. Dow Jones Monthly: As of this writing, there’s still an hour left in this trading week…
What a better way to start your week than browsing around the news and blogosphere, courtesy NewsFlashr? Here, I wanted to highlight selected blog or news posts that you may find interesting that might help you in the upcoming week. The Big Picture tries “DECONSTRUCTING THE FINANCIAL CRISIS (so far)” which is a rough timeline…
I actually missed this development until a reader pointed it out to me, but Friday’s action seems to ‘make more sense’ when viewed through the 30-minute chart. As a bonus, this timeframe allows us to see the broad picture of the whole interesting action of last week. Let’s look. DIA 30-min chart: The blue vertical…
It’s certain that the US Election will have an effect on the equity markets and markets beyond, as the market anticipates the next president’s administration and shifts to reflect perceived policies he might create. Let’s turn to the current state-by-state polls to give us an overall electoral vote projection to see who that next president…
Today hit a milestone with the Afraid to Trade blog, as this is the 1,000th post since I began blogging in February, 2007! I wanted to take a moment to thank all readers deeply for their support and for reading, emailing, and commenting. Traffic has been increasing virtually every month, especially so in the current…
This month’s SFO (Stocks, Futures, Options) Magazine has an excellent introductory article on Elliott Wave Theory entitled, “Roadmap or GPS – Lessons in Elliott Wave Analysis” by Jim Martens of Elliott Wave International. Martens compares Elliott Wave analysis to navigating a car during a drive – do you use the flashy GPS device or do…
The S&P 500 is striking a strange chord that will resolve eventually into a potentially large trend move – the question is “Which way will it move?” Let’s see this and look for clues. First, the S&P 500 Daily Chart: If you look at this structure, you likely see a powerful “sell” signal setting up…
Today’s the big day I’ve been studying almost two years to accomplish – the final examination in the Market Technicians Association’s Chartered Market Technician Exam track (Level 3 written essay exam) Wednesday afternoon. Wish me luck in this four hour essay exam that makes all aspects of Technical Analysis and Market Dynanamics (including psychology and…
Who would have expected such a headline on Crude Oil just five or so months ago?! Today, it happened, with Crude oil trading just above $68 per barrel in the morning session on Wednesday. Let’s look at the weekly and daily charts to see how this happened and what might be in store. Crude Oil…