The morning session – continuing over from a pattern into yesterday’s close – gave us an excellent example of a bear flag that I’d like to show you as an educational reference on trading tactics and “Enhanced Flags.” Let’s take a look:
I wanted to share an excerpt from an article from Elliott Wave International and analyst Nico Issac who wrote, “Before You Morn the Death of the Dollar, Check this Chart.” The following article is based on analysis from Robert Prechter’s Elliott Wave Theorist. For more insights from Robert Prechter, download the 75-page eBook Independent Investor…
I can’t remember seeing this particular fractal pattern forming a “Dual” Three Push reversal pattern, so let’s take a look at the SPY (S&P 500 ETF) to see what the daily and 30min charts are showing a Dual (Fractal) “Three Push” reversal pattern… and what to expect.
I wanted to give an updated look at the recent post entitled “If History Repeats, Will it Mean New High for S&P 500?” As we see today, the answer is overwhelmingly “yes” as I suspected would be the case when I wrote that post on October 6th.
Let’s take an updated look now that ‘history has indeed repeated’ and also step inside the three most recent “short squeezes” on the SPY and S&P 500.
Starting with an updated look at the SPY Daily chart:
Let’s start Columbus Day with a few selected posts from the NewsFlashr Business Blog section: 1. Mish of Global Economic Trend Analysis takes a look at the “One-Hand Clapping Theory” and how it relates to the “inflation/deflation” argument in the markets. 2. Dr. Steenbarger of Trader Feed shares a quick thought and link on Retirement…
Going back to TA 101, let’s take a quick look at the SPY Weekly Chart and note a prior “gap zone” along with the 50% Fibonacci Retracement – both of which rest slightly above price currently.
Like October 7th, Friday’s intraday trading action in the SPY or @ES futures gave us a range day, where the best trades came from ‘fading extremes,’ or particularly, in watching for tests of Bollinger Band extremes on TICK and/or momentum divergences. I described these tactics in a previous post “Bollinger Bands, Divergences, and Candles on Range Days.”
Let’s take a quick look at the daily chart of Gold to note a recent “Bull Flag” pattern, and also revisit the “Triangle” breakout pattern that triggered as a potential set-up in early September. We’ll note two potential upside targets if these are the dominant technical price patterns in gold.
With Gold breaking to new highs, Adam Hewison, who has been bullish on gold for quite some time now, released a new, quick 2-minute video entitled “An Alternative to Trading Gold” that shows his take on the current “Inverse Head and Shoulders” in gold and demonstrates the pattern and trading possibilities also in GLD, which…
I wanted to share a lesson from today’s “Idealized Trades” report – namely on the importance of recognizing “Type of Day Structure” which then leads you to adopt more appropriate trading strategies.
For example, on today’s range day trading environment, the best trades came from watching these three concepts: Bollinger Band Extremes, Candle Shadows or Reversal Candles, and TICK or Momentum Divergence. Let’s take a quick look at some of the trades you could have taken using a combination of these concepts.