I posted a recent update on Caterpillar (CAT) on September 30th, noting the price at the $80 level, and one month later… not much has changed. Caterpillar shares have held the $80 per share level like a major wall of overhead resistance, as we’ll see in this update, and now it’s time to turn back…
We all try to make charting complex, but sometimes it’s the simplest facts and realities that give us clues to the most important turns or inflections in a major market. We’re at one of those points right now in the S&P 500 – as seen on the Weekly chart below in simplest terms: I’m only…
It’s that exciting time of the year again! The Las Vegas Traders Expo is quickly approaching and registration is now open to attend. The Expo will take place November 17-20, 2010 at Caesar’s Palace – check out full information at the Traders Expo Website. The Expos are a great opportunity not only to learn from…
It’s time for a quick mid-week major US Equity Index update. Let’s do a quick chartbook fly-by of the Dow, NASDAQ, and S&P 500 with a focus on the main levels to watch and current structure. First, the Dow Jones (so close to new recovery highs): Believe it or not, the Dow Jones Industrial Average…
File this under “In case you missed it,” the US Dollar hit a new fifteen-year low this morning and has held under that zone for the remainder of the trading session so far. Let’s take a look at the monthly USD-JPY (US Dollar / Japanese Yen) Monthly Chart, see the break to new low, and…
It always amazes me when price charts repeat almost exactly a previous pattern – but it’s not common to see a pattern this large repeat this intricately as we’re seeing the current “arc” rally structure do. Let’s get an update on the pattern and see what’s in store next if the pattern repetition continues. First,…
I wanted to share a link to another excellent interview in the series from Charles Kirk at the Kirk Report. This weekend’s interview is with Mike Bellafiore of SMB Capital, who also is the author of the new and popular book One Good Trade (see my earlier book review). As is my custom, I wanted…
BIDU has been one of those companies that just keeps on giving and giving – similar to Apple’s (AAPL) amazing price rally. Let’s take a look at its weekly chart, note the 10x move from the 2009 lows, and learn a few simple lessons on how to trade these kind of moves – with a…
I always enjoy pointing out unusual or strange similarities in price structure over time, and one of the most eerie ones on a larger scale that has occurred recently is the similarities of the two “Creeper” trends in 2010. A chart is worth 1,000 words: What we’re seeing is the two big rallies in 2010…
Despite all the volatile price action in the cross-markets today, something very interesting happened. Despite the overbought or oversold conditions of the inter-market structure, one fell-swoop brought all markets back to their 20 day Exponential Moving Averages. Let’s take a quick chart fly-by to see what happened and what to watch from here. First, the…