Rounded Arc a Bad Omen for SP 500
As I’ve been mentioning, the S&P 500 continues for form a “Rounded Arc” formation which appears to be the dominant technical structure on the S&P 500. Let’s take a quick look at this development.
A Weekly and Daily Chart View of UNG Natural Gas Oct 26
With the Natural Gas ETF UNG falling 5% before mid-day on Monday, October 26th, let’s take a quick look at the broader picture by seeing the structure and opportunities on the weekly and daily charts.
Did You Hear the One About Amazon? Two Lessons from AMZN
With Amazon leaping 27% Friday to an all-time high, it’s certainly a good idea to take a look at its current chart to see the progression that led to this move. Let’s take a quick look at Amazon’s (AMZN) weekly and daily chart.
It’s Make or Break at $60 Support for WYNN
Wynn Resorts (WYNN) has come into a “Make or Break” support zone at the $60 per share level. Let’s take a look at its daily chart and note Fibonacci, Moving Average, and Bollinger Band support coming together just beneath price right now.
Gann Squares Grid from High and Low on SP 500
Here’s a little advanced analysis, or at least an example of “chart art” using Gann Squares (Square of 9) to show the Gann Lines both from the 1,576 high (first chart) and upwards off the 667 lows (second chart).
Let’s take a look and I’ll give a quick explanation of each chart.
First, we’ll start the Gann Squares of 9 Lines from the 1,576 high, which would be used if you assume we are still in a Bear Market and will find overhead resistance.
Hewison Video Update: NASDAQ In Thin Air
I have to give Adam credit for a unique topic I haven’t thought of before. In his most recent NASDAQ Video Update entitled “Is the NASDAQ Now in Thin Air?,” Hewison overlays the dominant Fibonacci grid and introduces the concept of “Thin Air…” and it’s probably not what you’re thinking (or at least was not…
Sector Rotation off July Low – the Epitome of Strength
If you ever wanted to see an example of rampant bullish strength in terms of the Sector Rotation model, look no further than these charts, which show the powerful move up in the broad market since the July 7, 2009 lows to the recent October highs.
Turnabout is Fair Play – SP500 Daily and 60min Oct 21
Well that was interesting. I’ve been thinking that when a pullback came (if it ever came) that it would be swift and sudden. This move down into the close is either the start of a tumult to the downside… or just one more in an ever-increasing series of failed sell signals (as mentioned in a prior post).
In any event, let’s take a look at the Daily and 60-min S&P 500 chart to see multiple divergences, overbought conditions, and a slicing through all lower frame moving averages.
Recent Measured Move Retracements in SPY Oct 21
With the market continuing its relentless rise off the early October lows, let’s take a look at the four recent “retracements” and note their symmetry in both form and movement… or in other words, let’s compare and note the almost identical similarities in the four recent ‘pullbacks’ against the recent upcurrent in the S&P 500 and SPY.
Corey’s Interview with Larry Connors Part 2
Here is the transcript from Part 2 of my recent interview with Larry Connors of TradingMarkets.com. Be sure to read the First Part of the Interview if you have not done so already prior to reading part 2 here.