For those who may have missed it, Boeing Stock (BA) broke to new recovery highs out of a rising wedge or ascending triangle pattern on the daily chart, sending prices higher in solid breakout mode.
Let’s take a look at the daily chart to see this breakout, as well as upper resistance levels to watch and lower support levels to guide traders.
I’m pleased to announce that Tim Bourquin has posted the full video of Tuesday’s webinar “Price Principles to Enhance Your Trading Edge in Any Market” at his TraderInterviews.com website. You may click on the image or the following link to view the presentation in its entirety without registration. Once at TraderInterviews.com, Click play (on the…
I found the daily chart of US Steel (X) very interesting, in that it showed a good example of a Head and Shoulders which triggered a tradeable move into support, and then we’ve had a non-stop rally to fresh recovery highs – that’s bullish for stocks in general. If steel demand is a leading indicator for economic growth, then this is certainly a move to watch.
It’s rare when a pattern this clearly emerges on the intraday chart, but so far mid-day on January 7th, the market is forming a dual TICK and Momentum divergence which gives odds favoring at least a deeper retracement at best or a reversal at worst by end of session. Let’s take a quick look.
Crude Oil has a bullish seasonality going into the end of the year, but the end of 2009 saw a major price expansion move to the upside, re-breaking above an ascending triangle trendline which carried crude oil prices to fresh new recovery highs. Let’s take a look at this recent development.
It’s time for another check-up on intraday market internals in the S&P 500! Market Internals – looking under the hood of the market – can help warn (foreshadow) turns in price in advance. As such, it is important to keep tabs on key market internals as an intraday trader, or even for a swing trader.
My contribution for today’s post at GreenFaucet’s “Technician’s Edge” column is entitled “A Look at the Daily Chart of The Two G’s: Google and Goldman.” In the post, I detail observations and levels to watch on the daily charts of technology giant Google (GOOG): and financial giant Goldman Sachs (GS): I explain how watching the…
The morning session of January 5th gave us a great chance to see two principles/trade set-ups in motion, which both serve as great educational examples of the “TICK Flush” and “Dual Divergence” situations. Let’s see them and then define them for reference.
Many traders are throwing around the term “January Effect,” especially as we turn the corner into January 2010. Some are trying to profit from the “January Effect,” but what is this ‘effect’ and how can we monitor it? Let’s find out.
I’m pleased to announce that I will be presenting an hour-long webinar entitled “Price Principles to Enhance Your Trading Edge in Any Market,” hosted by Tim Bourquin of TraderInterviews.com. It will be a free webinar open to those who register in advance of January 5th (click here for the sign-up link and additional information on…