I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
The XLK Technology Sector SPDR is making fresh new 2009 price highs above the prior ‘range resistance’ boundary area, and that is a bullish sign for the broader market. Let’s take a quick look at the daily and weekly chart of the XLK.
“The more things change, the more things stay the same…” or so it seems since mid-November to mid-December in the SPY and S&P 500 and broader US Equity Market.
Let’s take a ‘pure price’ look at the current trading range as seen on the 60-min chart.
Potash (POT) is a stock I like to follow, mainly because it received so much attention as it rallied non-stop (almost) from 2006 at $30 per share to the mid-October 2008 peak of $240. The stock is well-beneath these lows now, but it looked like the stock was coming back to life.
The recent downswing last Thursday and Friday brought that into question. Let’s take a look at Potash’s weekly and daily chart and note key levels to watch going forward.
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.
Today’s article for the “Technician’s Edge” column at the GreenFaucet.com website takes a quick look at key levels to watch in leading stocks Google (GOOG), Apple (AAPL), and Exxon-Mobil (XOM).
I examined Google’s critical level at $600 recently in my post: “Like S&P 500, Google is at a Make or Break Resistance Level.” The analysis remains unchanged as we remain under $600 per share.
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.
I wanted to show the current “Gann Squares” lines as a reference on the S&P 500, and also take a look at the declining volume bars on the daily chart. Consider this one of my “Chart Art” posts, though these Gann Lines have been important at certain levels on the rally higher.
Adam has been working overtime! This morning, Adam Hewison sent out three brief video updates on the current trend and quick analysis of the US Dollar Index, Crude Oil, and Gold. I wanted to provide the quick links to the videos for your convenience. Adam’s analysis often focuses on the basics of trends, trend reversals,…
I just read an excellent interview with SMB Capital partner Mike Bellafiore entitled “The Transaction Tax Will Destroy Small Businesses,” conducted by Damien Hoffman of Wall Street Cheat Sheet and I wanted to call your attention to this important interview. Mike pulls no punches in explaining how detrimental this “small” tax would be on most…
With 2009 coming into a swift close, and price forming the tightest consolidation of the year, let’s take a look at the entirety of 2009 so far and pay special attention to Volume and Volatility in the S&P 500.