I wanted to do an update post on the infamous Natural Gas fund UNG, now that it has (almost) completed a test of the prior lows as mentioned in my prior post entitled, “A Weekly and Daily Chart View of UNG on October 28th.”
Let’s see the daily chart spanning back to the beginning of 2009… and witness the stellar drop from $25 per share to $9.
I’ve been watching Goldman Sachs (GS) closely as a barometer for financial stocks and thus the broader market for some time now, and the stock faces a critical area to overcome to continue on its upward trajectory.
Let’s take a look at Goldman Sachs’ daily chart to note the overhead EMA resistance that is bearing down to form a potential Bearish Cradle Sell Signal.
I wanted to update you on the continuing arc in gold from the prior post “Two Views of the Angles of Ascent in Gold” which was showing a steeply rising parabolic formation.
Here is the current “pure price arc” in gold’s daily chart:
It’s time for this week’s Editor’s Picks from the NewsFlashr Business Blog section! Barry Ritholtz of the Big Picture shares two graphs of US Unemployment – one from 2004 when the unemployment rate was 5.5% and the other now from 2009 when the unemployment rate is 9.8%. Very revealing. Dr. Steenbarger of Trader Feed wrote…
There were eerie similarities in today’s Fed Day action and that of September 23 in form and structure. Let’s compare these two days and focus mainly on price action and reaction.
It’s back! Robert Prechter’s Elliott Wave International has opened its services for a “Free Week” trial of their subscription forecasting services from November 4th until next Wednesday, November 11th. During that time, you will receive access to the three-times per week “Short Term Update” which covers the stock market indexes, gold, treasury yields/prices, and silver…
If you’re ever been puzzled whether or not to use a logarithmic or arithmetic chart and how to interpret trendlines, you’re not alone. Let’s take a recent look at Goldman Sachs (GS) and compare the different up and down trendlines on both scales to note the key differences and insights from both.
Following up my post this morning on the “Broken Support on the S&P 500,” let’s take a similar look at the current levels to watch in the Dow Jones Average.
Adam Hewison released a new update video on the S&P 500 this morning entitled “Has the S&P 500 Broken Final Support?” or alternately titled “Weekly Sell Triangle on S&P 500”. I was impressed with how much Adam compressed in this brief 5-minute video! (Image links to video page) The chart I captured above shows where…
I wanted to follow-up from this morning’s post in highlighting the TICK and Momentum Divergence concept and note that we had two additional examples of the concept – making that three clear examples of the trade set-ups and possible trend reversals that can come when momentum and TICK divergences form intraday.