To say I was impressed with the bullish action today is an understatement – I was astonished at the strength! Let’s look inside today’s intraday action to see how the Trend Day structure developed and what opportunities existed for profit – knowing how to trade a trend day can make the difference in a large loss or large profit the next day we get one.
Apple Inc (AAPL) has been a relative strength leader off the March 6th market bottom. Let’s take a look at its currently daily structure to see where it’s come from and where it might be heading. First, observe the powerful $45 price move up (47% increase) off the March lows – actually Apple showed relative…
I wanted to share an inspiring post by Mike Bellafiore of the SMB Training Blog (and co-founder of SMB Capital) entitled “10x equals x“. In the article, Mike discusses a disturbing trend in newer traders (in terms of assumptions) and shares his thoughts on the solution. He introduces the post with a challenging statement: “These…
Let’s take a look at India’s Nifty-50 Index, which is bumping up against the falling 20 week EMA which could serve as a temporary upper-limit after the astounding 40% (1,000 point) price run-up off the March lows. Price has rallied 1,000 points into resistance at the falling (yet flattening) 50 week exponential moving average, and…
Which specific sectors fared the best and worst for the month of April? Let’s take a look both at Absolute Sector returns and Relative Sector returns for the month of April 2009. First, Absolute Returns for the 9 major sectors (and the S&P 500): The S&P gained just over 8% for April – a relatively…
Conglomerate General Electric (GE) has shown fascinating confluence via Elliott Wave and Fibonacci (as well as “Measured Move”) analysis. Let’s see what I mean and start the count from 2000 to present on the monthly chart. First, let’s see the simple AB=CD “Measured Move” (aka large bear flag) that has just hit its target: I’m…
Let’s take a quick look at the levels of Fibonacci Confluence in the NASDAQ Index as we start May, 2009. The Fibonacci grids I’ve drawn begin at the 1,280 March low level and connect three key swing highs – the colored retracements are the result of these levels and we are looking at the confluence…
Using today’s price action so far as an example, let me walk you inside the price action for April 30, 2009 in the SPY to discover that massive TICK, Breadth, and Momentum divergences all formed, clueing you in that a price reversal was far more likely than price continuation. Let’s walk through the market internals…
Here are this week’s “Editor’s Picks” from the NewsFlashr Business Blog section: Mish (Global Economic Analysis) shares some charts of various technical indicators which ‘scream’ caution (bearishness) going forward in the market. Stock Trading to Go shares an introduction to stock chart analysis, which can be used by primarily fundamental analysts as a ‘first step’…
Brad Stafford of Market Club released an educational video this morning on how to use news/headline alerts in Market Club to take advantage of “short-term pops” in certain stocks. (clicking the image opens the video page) Entitled “How to Play Short Term Pops,” in the introduction to the video, Brad writes, “With these Alerts you…