I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
There was a strange, large scale overnight gap in the UUP Bullish US Dollar ETF which wasn’t confirmed as strongly in its bearish counterpart, the UDN. Let’s take a look at these two ETFs on their daily chart to see if we can get a better picture. Bullish Dollar ETF – UUP: Price gapped from…
Don’t let this development pass your analysis by! Today, the US Oil Fund ETF experienced a volume surge of 37 million shares on a potential doji reversal candle at possible support. Let’s see this development both on the daily and the 30-minute chart. USO – US Oil Fund Daily The day closed on a doji…
I haven’t discussed the technical picture on Google (GOOG) in a while, so let’s take a moment to look at the weekly and daily price structures for Google and what might be in store for the near future. Google (GOOG) Weekly: The dominant structure I’m seeing is a (potentially) completed “ABC” large scale corrective phase…
Let’s take a look beneath the market to see what ‘idealized trades’ set-up within the intraday price structure of the DIA for Tuesday’s trading – then let’s view the day through the lens of a 5-minute Elliott Wave count that could have helped guide our trading day. DIA 5-min chart: First, the day began with…
One of the beneficiaries of lower crude oil prices has been airlines companies, as evidenced by the $XAL Airline Index. Let’s take a look at these developments and what’s happening to the Airline Index right now. $XAL Airline Index Weekly: The index is currently testing against overhead resistance via the flattening 50 week EMA, but…
We’ve witnessed absolute destruction in the price of crude oil and in other commodities in such a short period of time. However, the situation might be changing and aggressive speculators might find a significant low-risk opportunity should crude oil find support at the well-established level of $40 per barrel. Let’s see this and how it…
As expected, it looks like the current price action as of Monday morning is confirming the large-scale Elliott Wave Count that we have freshly entered a corrective Wave 4 up-swing in the market, which could continue into the end of the year. Let’s take a look at the large-scale count and see which price targets…
Chicos Fashion (CHS) was an ‘on-fire’ and in-demand stock a few years ago, but recently, the stock has soured along with the broader retail sector, driving many stocks to multi-year lows and wiping some out of the market completely. Let’s take a look at CHS to note the full Elliott Wave progression, and then compare…
What has Apple (AAPL) been up to lately? Not much for long-term investors recently, but let’s take a moment to view the monthly, weekly, and daily charts and apply Elliott Wave combined with Fibonacci analysis to see where we’ve come, how we got there, and what might be in store for the future. Apple (AAPL)…
I previously discussed the Baltic Dry (Shippers) Index, but now I wanted to discuss a potential method from trading your take on dry shipping companies in general, focusing specifically on Dry Ships Inc (DRYS) which enjoyed a meteoric rise through 2007… followed by rapid price destruction throughout 2008. Let’s look at the weekly and daily…