From a simple charting standpoint, the Euro Index and corresponding ETF FXE have retraced into a key price zone that – whatever happens here – will likely be an important clue as to what to expect going forward. Namely, is this pullback just a retracement in an ongoing strong uptrend… or potentially the beginning of…
What is the current chart picture of BP shares, after the bad press from the oil spill has died down? It turns out they’re compressed between two timeframes of key EMAs, which gives us an excellent chance to take a look at this concept and watch what happens with the eventual resolution of these boundaries….
In scanning charts of leading stocks during today’s sharp decline, I found an interesting development setting up right now in shares of Apple (AAPL). Let’s take a look at the Daily chart structure of Apple, and what two divergent price pathways may lie ahead in the future. We see a powerful rally – similar to…
With Monday’s decline taking some investors and traders by surprise, let’s pull the perspective back and take a look at the current Daily Chart and then Hourly Chart structure, levels to watch, and “IF/THEN” Logic setting up right now. First, the Daily S&P 500: Stripping the chart to its most basic simplicity, there are two…
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…
While today’s intraday trading session didn’t offer stellar opportunities in the low-volatility session, those who were watching the 30min SPY chart in conjunction with the 5-min or 1-min SPY charts had a distinct information advantage today. Let’s take a look at why that was so and learn a lesson in how to trade lower frames…
What levels should we be watching in Gold and Silver prices to see if this pullback phase is just an expected and overdue retracement… or perhaps the start of a deeper reversal? Let’s take a quick look, starting with Gold: A sort of semi-indicator free pure price look reveals that the initial level to watch…
Today is a good day to brush off the old Technical Analysis 101 handbook to review a simple – yet very effective – concept regarding trends. In a trending environment, price often retraces to the 20 day EMA to continue the move in place. However, if ever the 20 day EMA breaks – and it…
Today marked an important initial breakdown in the daily chart of key bond funds TLT and IEF. Let’s take a specific look at the 7-10 year IEF Treasury Fund, and the corresponding breakout in the leveraged inverse TBT 20+ year Treasury ETF. The IEF is the lesser-known cousin to leading bond fund TLT (20+ Year). …
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…