I describe the week’s actions and discuss where we are in the market for the upcoming week.
The US Equity Markets now face a critical test of weekly chart price levels that stretch back to mid-2008… or a surprising level on the NASDAQ weekly index. You might be very surprised at the level the NASDAQ has reached if you focus most of your attention on the Dow or S&P 500. Let’s take…
I wanted to give a quick chart-based update to my prior post this week “Key Daily and Weekly Price Level to Watch in Gold GLD” which goes into a bit more detail than this quick update. It’s rare to have such a major commodity ‘hanging out’ at such a critical key level from the technical…
As promised, I wanted to follow-up the prior “Market Performance in 2010” post with a few charts of the major cross-markets and the developing relationship with the S&P 500. In looking at the reference charts, pay close attention first to the type of relationship – positive or negative – and the periods of time (highlighted)…
The S&P 500 has moved up into a short-term Gann Squares inflection level – similar to a Fibonacci level – which is worth considering as we move into the final push of 2010. Let’s take a look at the updated Gann Squares Chart of the S&P 500 to see what the current and future levels…
I recently posted a Sector Rotation update wherein the strongest Sector off the September market bottom was Energy – as shown by the 25% gain in three months from the energy sector. Let’s now step deeper to look at the weekly then daily structure of XLE and note key levels to watch – along with…
I’ve had a couple of requests lately to take a look at China’s Shanghai index ($SSEC) and indeed there’s something interesting going on in the charts. Let’s take a look at the confluence support and resistance levels on both the Weekly and Daily charts and set-up the next likely plays depending on how price acts…
The S&P 500 bottomed (recent swing low) at the 1,040 level at the end of August/start of September and has rallied almost non-stop to the 1,230 area. Two quick questions come to mind – how have the individual sectors performed, and what does this say about the broader market? Let’s take a look: When doing…
While a one-day move greater than 10% is stellar for any stock, especially one as watched/traded as Cisco Systems (CSCO), let’s take a look at the bigger picture and journey from the monthly chart down to the daily frame to put this overnight move into a broader context. First, CSCO’s Monthy Structure: In the grand…
A lot of traders have been paying attention to the Dollar, but it’s also important to watch the Euro and what’s taking shape on its respective price charts. Let’s take a quick Weekly then Daily look at the Euro-trust ETF – FXE – and reveal a weekly confluence level to watch, and a possible daily…
Borrowing a phrase from the Guy Fawkes Day chant “Remember, Remember the 5th of November” (popular in the United Kingdom), I thought it was fitting to take a look at the “Fibonaccis in November,” namely the Dow, NASDAQ, and S&P 500 61.8% large-scale Fibonacci retracements – which are playing a role in the current market…