I describe the week’s actions and discuss where we are in the market for the upcoming week.
With the European financial situation dominating headlines, traders continue to monitor the strength of Germany’s economy as the strongest economy in the region. There’s an interesting chart pattern situation developing on Germany’s DAX index (stock market), so let’s focus on the triple-timeframe picture which includes a critical support level on the higher frames and a…
Well that was interesting – absolutely no jobs were created in August, so says the Non-Farm Payrolls report released September 2nd. Understandably – both from a news and chart perspective – the market fell sharply Friday morning. However, what does this mean in the bigger chart picture, and what are the critical support and resistance…
You’re probably aware of the large price breakout in defensive bond ETFs TLT (20+ year) and IEF (7 – 10 year), but it’s always worth reviewing along with current price levels to watch for support or a reversal signal. Let’s start with the daily chart of the popular TLT fund: Investors can turn to TLT…
While Gold received most of the headlines/attention in the last few weeks, what has been quietly happening to Silver and Platinum prices? Let’s take a look at the parabolic move in Gold and see what the companion moves have been in related precious metals Silver and Platinum. Ever since breaking firmly above the $1,600 resistance…
On the weekly chart picture, a clear floor of support exists where we start the week of August 22nd. Let’s take a quick weekly look at the Dow Jones and S&P 500 as we start the week with respect to this higher timeframe confluence/key support area. There are three specific chart-points to watch on the…
Since uniting in 1998, US Equities have displayed a strong positive relationship with the 10-Year Treasury Note Yield, and we can gather insights from that relationship. Let’s start with the monthly frame and work down to the daily chart to assess the relationship and the current signals from this important Inter-market Pair: There’s a little…
Intraday traders had a great example of the “Three Push” pattern complete with multi-swing negative divergences into an overhead “Round Number” resistance level in Gold. Let’s take a look at how the classic pattern set-up and learn the trading lessons from this event: First, let me say that REVERSAL style trades (like this) are inherently…
We’ve all been trading in a high volatility market, but how does the current surge in volatility compare to the past few surges in volatility since the 2007 market peak? Let’s take a look at what’s happening now and put it in the context of 2007 to present in the S&P 500: To measure volatility,…
It’s been a few months since we’ve had to concern ourselves with the large-scale Fibonacci Retracement Levels of the entire bear market phase, but today brings in the 50% retracement back to the forefront. Will it hold? And if not, where is the lower level? Let’s review our long-term Fibonacci Grid: Starting with the October…
When markets turn volatile, it’s often helpful to pull-back the short-term perspective to the bigger picture of chart index levels and previous developments. Let’s take a quick moment to view the “Bear Market and Recovery” perspective in the S&P 500, Dow Jones, and NASDAQ Indexes. I wanted to focus specifically on two structural levels across…