I describe the week’s actions and discuss where we are in the market for the upcoming week.
The Euro/Swiss Franc (EUR/CHF) FOREX pair has collapsed over the last few months, and this is something many traders are not seeing. Let’s take a look first at the long-term strong positive correlation with this FOREX Pair and the S&P 500 – stretching back to 2000 – and then look at the recent collapse –…
Is it too early to write the obituary for the stock market? Today the S&P 500 closed under 1,040 – the major line in the sand between bulls and bears. Let’s take a quick look at this development and why this level is so important to monitor – we’re all watching it. The Break: ….
Over the last year, I’ve been updating charts comparing today’s market to the Crash/Recovery phase from the 1929/1930 period. In the most recent update, I showed a “Haunting Look at the 1930 Crash/Recovery Phase” and this post is an update of that “haunting” chart, but this time with a larger chart and a direct side-by-side…
Friday’s close in the US Dollar Index took us back to the key short-term support line at the $85 index level. Let’s take a look at the daily chart to see why this level is important – and where we might go depending if support holds or breaks. The Dollar Index rallied persistently to the…
Thank you for your requests for updates on India’s “Nifty 50” Index. There’s actually a very interesting turning point in the index coming up, and a sharp rally that has led to a recent outperformance (to the SP500) of the Nifty index. Let’s see the daily chart and the recent strength: The price structure of…
I received a lot of positive responses and questions to my recent “Standard Deviation Bands for the S&P 500″ post, and I wanted to follow-up by posting the current standard deviation levels and bands for the NASDAQ and Dow Jones Index. Without further delay, the NASDAQ Index: The logic of this type of chart is…
Has GLD Broken out of its triangle resistance boundary? Let’s take a closer look. GLD Daily: I’ve been posting for quite some time regarding the “Arc Trendlines” in Gold and GLD, as seen above with the small green ‘arc’ lines. Those lines remain the dominant chart trendline pattern (trendlines do NOT always have to be…
Let’s take a look at the Dow Jones chart of 1930 post 1929 crash from the eyes of a simple technical analyst (chartist) and what he or she might have written in real time in 1930 as the market faced an eerily similar “Line in the Sand” to what we face today…
As we move up off the key “Edge of a Cliff” level – 1,040 – in the S&P 500, let’s take a quick look at the reference levels to watch as potential resistance on the S&P 500 on the bounce. The most obvious overhead level for a short-term ‘make-or-break’ level is again 1,110. You don’t…
I think all of us chart watchers are focused intently on the epic Battle of 1,040, but I wanted to pull the perspective back for those who aren’t as accustomed to studying charts to show exactly why the market is balanced “on the Edge of a Cliff” and why the bulls holding above key support…