US Dollar Index Continues its Slide from Bear Flag
The US Dollar Index appears to be continuing its journey downwards out of a confirmed break-out of a bear flag. Let’s see this structure and identify possible downside targets.
Lessons from Dendreon DNDN
I wanted to share the chart of Dendreon DNDN and some links to other news stories that try to explain what happened and what we can learn from it.
Gold Inflects off Key Support – Daily Structure
old prices recently defended a critical support area. Let’s see Gold’s daily structure and note the confluence of Fibonacci and Moving Average support.
Another Powerful Trend Day Befalls Us
To say I was impressed with the bullish action today is an understatement – I was astonished at the strength! Let’s look inside today’s intraday action to see how the Trend Day structure developed and what opportunities existed for profit – knowing how to trade a trend day can make the difference in a large loss or large profit the next day we get one.
Apple AAPL Daily Chart Shows Strength with Divergences
Apple Inc (AAPL) has been a relative strength leader off the March 6th market bottom. Let’s take a look at its currently daily structure to see where it’s come from and where it might be heading. First, observe the powerful $45 price move up (47% increase) off the March lows – actually Apple showed relative…
Fibonacci Confluence in the NASDAQ May 1
Let’s take a quick look at the levels of Fibonacci Confluence in the NASDAQ Index as we start May, 2009. The Fibonacci grids I’ve drawn begin at the 1,280 March low level and connect three key swing highs – the colored retracements are the result of these levels and we are looking at the confluence…
Massive Internal Divergences Predict Intraday Trend Reversals
Using today’s price action so far as an example, let me walk you inside the price action for April 30, 2009 in the SPY to discover that massive TICK, Breadth, and Momentum divergences all formed, clueing you in that a price reversal was far more likely than price continuation. Let’s walk through the market internals…
Lessons from Goldman Sachs GS Daily Chart
Goldman Sachs (GS) is coming into Fibonacci resistance on a negative momentum divergence. Let’s look at this current development as well as learn a few lessons – such as a clear “Three Push” example – on its daily chart. (Click for larger image) First, let’s look at the “Three Push Reversal” pattern that formed on…
Insider Buying and Selling Charts
Are the ‘insiders’ buying or selling into this recent rally? Phil’s Stock World takes a look at what’s happening behind the scenes on the recent market rally – let’s take a look. Per Phil’s article: Take a look at the charts summarizing insider buying ($ amount and number of shares) during different periods and comparing insider…
Elliott Wave and Double Divergence Set up Great Trade in SPY April 27
There I go again with the long titles, but I had to fit it all in. Today, there were two excellent trading opportunities I wanted to highlight in today’s intraday structure. One was a “buy the 4th wave” into confluence support (with a TICK divergence) and the second was a “sell short the 5th wave”…