The Weekly Triangle in McDonalds MCD
Here’s another classic “Blue Chip” Dow Jones component along with Exxon-Mobil (XOM) that is forming a large-scale symmetrical triangle formation. Let’s take a look at McDonald’s (MCD) weekly stock chart.
A Breaking of Two Moving Averages SPX and USD
It’s a “Tale of Two Moving Averages” – in that the daily S&P 500 broke beneath the rising 20 day EMA while the US Dollar Index broke above its falling 20 day EMA. Let’s take a quick look at these structural developments.
Transports Test 50 day EMA – Watch Current Levels
The Dow Jones Transports Average ($TRAN) is testing its 50 day EMA at the 2,700 level – we need to keep a watch on this level to see if it breaks… or holds.
October 1 Midday Check on Market Internals and Structure
Let’s take a quick mid-day look at the SPY/market internals and current structure as we begin not only October 2009, but the final quarter of 2009.
Interesting Intraday Rounded Reversal in GLD Sept 30
I wanted to do a quick update post to show the “Rounded Reversal” pattern that formed recently on the intraday charts in GLD (Gold Tracking ETF). Let’s see it on the 15-min frame.
Apple (AAPL) very close to All Time Highs – Weekly and Daily View
Unless you’re following Apple, or glance at it from time to time, you might not believe me when I say Apple (AAPL) stock is about $15 away from an all-time high just above $200 per share. Yes – it has recovered that much since the bear market lows of $89 per share. Let’s take a quick look at the weekly and daily charts.
Copper Hangs Precariously at Edge of Cliff
Copper Prices, which can be early indicators of economic strength or weakness, are hanging as close to the edge of a cliff as possible and we need to watch the outcome of the current structure for clues ahead. Let’s see it.
Daily SP500 Shows Strong Bounce off Rising 20 EMA
Mid-day on Monday, the S&P 500 is up over 1.6% after successfully ‘bouncing’ off the 20 day EMA at 1,045. Let’s take a look at the current daily S&P 500 to see this bounce and what it might mean.
SPY Intraday Sept 25 Shows Triangle and Mega Divergence
I wanted to highlight two features or trades from today’s intraday market action – a Descending Triangle Support Break and a “Mega-Divergence” reversal opportunity.
A Monthly and Weekly Look at RIMM after Earnings Miss
With Research in Motion (RIMM) falling over 15% intraday after Thursday’s “earnings miss,” I thought it would be a good idea to step back the timeframe and take a look at the larger picture – mainly the Monthly and Weekly chart structure.