I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
A reader brought to my attention from my last “Chart Art Arc” post on Intel (INTC) that price also reflects a large-scale 50% Fibonacci Retracement. He’s right, but I also wanted to show a second important Fibonacci Confluence at the $20.00 price level that also adds an interesting twist to the price chart. Let’s take a look:
Today (August 4th) gave us yet another powerful example of the “Three Push” Reversal trade in the SPY and @ES futures which was confirmed with a ‘three push’ divergence both in the momentum oscillator and more importantly in the TICK. Let’s take a look.
Adam Hewison released a 4-minute free update video on the Gold and Crude Oil markets, and notes that both markets pivoted at the 61.8% Fibonacci level on the recent downswing into ‘thin air.’ Entitled “Fibonacci Analysis of Crude Oil and Gold,” Adam zooms in on the current move on both markets’ daily chart to note…
It’s time for the August Elliott Wave Count update on the S&P 500. I will show the two most plausible Elliott Wave Counts which remain unchanged from May’s Elliott Wave Update (which successfully targeted 1,000 as a minimum upside target in the S&P 500). Please review that post for deeper context as you read the August update.
I wanted to show a quick update of the current SPY (which is similar to the DIA and QQQQ) ETF chart to note two ominous bearish candles at the recent highs of $100.oo. Let’s take a look.
A reader recently asked me for my take on Citigroup (C), as to whether or not the stock was perking up enough to warrant interest. I thought we’d take a quick look at the Weekly Chart and note the differences in the Logarithmic and Arithmetic charts and note a key level for bulls to watch.
With the end of July upon us Friday, I thought it’d be a good idea to look at both absolute and relative performance of key sectors to see where money flow has concentrated. Let’s take a look: Here we see the absolute returns of the key sector SPDRs as shown from StockCharts.com. The S&P 500…
I’ve heard on television all day about the “surprise” breakdown in gold prices over the last two days. Let’s take a look at one of the classic signals gold prices sent ahead of the down move this week, as well as learn a lesson on momentum.
I presented subscribers this evening with a discussion of the following chart presented below. Let’s take a look at it and learn two lessons from integrating the TICK with the SPY 30min price chart from where this recent strong rally began.
Gold prices appear to be forming a type of symmetrical triangle consolidation as seen in both the daily and weekly timeframes as of July 26, 2009. Let’s take a look and note critical support and resistance levels. All eyes of course are focused on the $1,000 per ounce level, as a breakout there would most…