I describe the week’s actions and discuss where we are in the market for the upcoming week.
I’ve been commenting both on the open blog and to members of the Weekly Intermarket Report of the “heavy” chart appearance in gold, as evidenced by the negative divergences and ’rounded reversal’ structure, and now we are seeing the aftermath of these bearish chart developments. Let’s take a look at the current daily and weekly…
Bank of America (BAC) shares fell sharply recently after releasing earnings on Friday. On Monday, shares crossed under the major Support “Line in the Sand” from the daily and weekly timeframe, so let’s take a quick look at that level and what to watch as investors grapple with the reality of a potential major breakdown…
Let’s take a quick look at something very interesting in the daily Andrews Pitchfork auto-trendline tool in the S&P 500. SPX Daily: Click for full-size image. This is the same Andrews Pitchfork trendline tool I’ve been showing in various updates on the blog and for members. Main idea? Starting the grid with the November 2008…
I received a request to update the analysis on the CRB Index and I realized it’s been quite some time since I posted a CRB update. Without further delay, let’s take an updated look at the weekly and daily CRB Index, a basket of commodities charted as a composite index. A quick glance shows us…
Silver is forming a multi-timeframe arc pattern that’s worth watching, as well as key support levels also across the two major timeframes. Let’s start with Silver’s weekly structure chart, note levels to watch, and then move to the daily chart of SLV for similar arcs and levels to know. Silver Futures Contracts – continuous –…
Traders who monitor volatility, particularly in regard to option trading strategies, closely monitor the VIX – Volatility Index. Others watch the VIX to get a gauge on fear of market participants. Either way, if you look closely at the recent move in the VIX – you’ll find something quite interesting: A clean divergence between the…
Here is the most recent update of the Gann Prices and Andrews Pitchfork Tool post series on the S&P 500. You’ll probably find something interesting about yesterday’s bounce price. (Click for full-size image) The horizontal green trendlines are Gann Squares prices originating off the March 6 2009 low. Price peaked in April just above the…
At least, hopefully temporarily. In a quick update, I wanted to show the fall-out of the mini-crashes that rocked the world of inter-market analysis on July 1, 2010. What a way to start the official second half of the year. (Click for full-size image) Earlier this morning, I reported on the Negative Divergences and Top…
We all were watching the 1,040 level on the S&P 500, and when it broke, traders reacted as expected: Bears pounced and Bulls ran for the exits. If you’re asking yourself why we bounced so hard this morning, then you didn’t see the ‘hidden’ defense price via a large-scale Fibonacci Confluence. There’s never a guarantee…
There’s something I’ve been observing on gold’s daily chart which is worth sharing – namely it’s the strange technical (chart) position of the “top-heavy” feel of the price, a terminal short-term Elliott Wave Count, and a lengthy negative divergence at the recent highs. It’s not as complicated as it sounds. Let’s see them all: By…