Daily Commentary

The day’s action hasn’t closed yet, but I wanted to throw this chart out quickly and ask the question:  “Is the retracement rally everyone expected already over?” Let’s look at the DIA Daily Chart: Not only have we already tested (and failed officially) at the 50% Fibonacci retracement from the August highs to the October…

What a day and what a recovery we have underway!  The major US Equity Indexes surged over 10% today, with the Dow gaining a record point gain in a singular day.  It gave us a good example of a classically defined “Trend Day” so let’s waste no time in looking at this example. DIA (Dow…

A popular question I’ve been asked recently is “With the US Government ‘printing money’ and the Economy going into recession, why in the world is the US Dollar Index rising?!?”  Let’s take a look at a possible prevailing reason. While clearly, there are dozens of fundamental and economic reasons as to the development, I wanted…

Apple Inc (AAPL) showed relative strength last week while the market declined so sharply.  I thought I’d show this speck of positive news in the sea of negative – let’s look at Apple’s daily and weekly chart. Apple (AAPL) Daily: While it doesn’t look like there’s anything positive to discuss on this chart, look at…

I’ve never been so happy a weekend has arrived.  Before that weekend starts, let’s take a look at the 1,000 point intraday swing in the Dow and other insights from the intraday trading for October 10, 2008. $INDU 5-minute chart: Folks, a 1,019 point Dow intraday range is nothing to sneeze at – it is…

Just when you thought it was safe to enter the market.  Also, “what a difference a year makes.”  Exactly one year ago, the S&P 500 and Dow Jones made all-time highs… one year later, we’re making fresh and significant five year lows.  Let’s look at the S&P and the XLF Financial Sector on weekly charts….

Adam Hewison of Market Club released a video analysis of Gold prices today that I wanted to share with you, as well as provide you with my own chart of daily Gold prices. Adam discusses how to use the Market Club software to identify larger trend then drill down to the smaller time frame for…

With all the rampant volatility of the last few days, it’s easly to lose focus on the larger structure.  Tuesday, the S&P 500 tested its 200 month moving average – Wednesday, it broke it.  Let’s view the monthly S&P 500 and Dow Jones Index charts. S&P 500 Monthly: After price violated the 50 month EMA…

Potash (POT) was a highly watched, profitable stock from 2007 to mid-2008.  However, as the commodity markets began falling sharply, so did shares of Potash, destroying profits and sending prices plunging from $240 to $80 in four months.  Let’s see these developments on the Weekly chart as well as potential support both from the weekly…

Today’s equity decline undersay has stunning ramifications for the larger time-frame structure of the S&P 500 and other US Equity Indexes – we’re now at levels not seen since 2003.  Let’s take a quick look at this structure to see where this takes us. S&P 500 Monthly Chart: First, let me state that we’ve now…