Quick May 19 SP500 Update Shows Level to Watch
The S&P 500 faces another important test of support here at the 1,100 level, so it will be key to watch what happens here.
Long term Volume Observation in Microsoft MSFT
I was glancing over the monthly charts of leading stocks and found an interesting volume trend in Microsoft (MSFT) over the years that’s worth mentioning.
Crude Oil at the $70 Level Gives a Finger… Trade
I posted yesterday about the importance of the $70.00 level as a “Line in the Sand” Support area for Crude Oil. Yesterday, price tested and – so far – held that level, developing a triple-swing positive momentum divergence along with a classic “Finger” Trade set-up/resolution. Let’s see those and the current intraday oil chart: Reference…
SPY Divergences and Downtrend May 17
Friday’s action concluded with multi-swing positive momentum and internal (TICK) divergences, which forecast the likelihood of a retracement that was expected early in the week… but it looks like we’ve already had the expected – smaller than usual – and now the prevailing downtrend continues.
Weekly Perspective and Levels to Watch on Crude Oil
If you’ve been focusing your attention last week on the volatility in the stock market, you may have missed the sharp sell-off in crude oil.
With half the month behind us, Crude Oil prices are down $12.50 (14.50%) for the month of May.
May 14 Update Market Sells off Exactly on Cue
Today’s mid-day update brings us up to speed on the chart/analysis I showed yesterday which stated,
“If the Market is Going to Turn, it will do so Here.”
And that’s exactly what happened.
If the Market is Going to Turn Down it will do so Here
Here again we face a critical test of overhead resistance on declining momentum and market internals. That doesn’t guarantee a reversal, but it sure suggests one is likely… and if it’s going to happen, it will happen right here.
China Shanghai Index Enters Bear Market
Depending on how you define it, China’s Shanghai Stock Exchange Composite Index has entered an officially defined “Bear Market” – according to the charts – using three objective measures.
Quick Check on the Daily CRB Index
Traders who want to know the direction of inflation often check the chart of the CRB Index, which is a basket of 19 commodities based on 4 main groups. Let’s take a look at the recent chart of the Index and then note important charting levels for reference going forward. So far, the CRB Index…
Triple Index Daily EMA Reference Levels to Watch May 11
On a stellar recovery after last week’s sharp crash, all three main US Equity indexes are testing their (now) declining 20 and 50 day EMAs. Let’s take a quick index fly-by of these daily chart reference prices to watch on the Dow Jones, NASDAQ, and S&P 500. Dow Jones: 20 day EMA: 10,900 50 day…