With a semi-trend day behind us and plenty of trading opportunities at hand, let’s look at some of the price structures and idealized trade entries we could have taken now that Monday’s action is complete. Dow Jones ETF – DIA 5-minute: First, the day started with a mini-index gap, which was instantly filled for little…
As of noon today, the S&P and Dow Jones returned to test their rising daily trend channel (or possible rising wedge formation) and is finding temporary support at these levels currently. Let’s look quickly and see what might be in store. DIA Daily Chart: Could a similar pattern be forming as what formed during March…
July had one of the best months in terms of the gap-fill strategy (fading an opening gap), so let’s look a bit closer to see just how this amazing feat was accomplished. DIA 60 min chart (click to expand): What I’m showing is through TradeStation’s 60 minute chart, with blue dotted lines representing yesterday’s close…
Is the Utility SPDR (XLU) on the precipice of a breakdown of a large head and shoulders pattern? At a minimum, we need to keep a close eye on this index for a potential resolution one way or the other. Let’s look. XLU Weekly Chart: Massive potential head and shoulders patterns such as this magnitude…
I’ve you’ve been following gold prices lately, you’ve noticed the precipitous plunge from the 1,025 per ounce high made just earlier this year. Rather than getting ultra bearish at these levels, let’s consider the possibility that a bounce may occur, or at least that gold prices are at critical ‘make or break’ short term price…
In one of the most massive short-squeezes/bottom fishing price surges I’ve seen, Hansen Naturals (HANS) – famous for their energy drinks – surged 50% from new 2008 lows, which was preceded by a distinct positive momentum divergence. Let’s look closer. HANS Daily: According to the Motley Fool article, Hansen released news that their Monster Energy…
There’s been a clear shift in money flow (as well as asset classes) that started in June which has cost some prominent hedge funds dearly who were behind the curve. Those who remained long commodities or energy and short financials (because it was the easy thing to do) were crushed in recent weeks. Let’s look…
Let’s take a look at the possible trading opportunities that presented themselves in the SPY (S&P 500 ETF) intraday chart today with the interesting price action. SPY 5-minute chart: You would have thought the bears would have mauled the stock market indexes when you woke up to read the headline “Inflation jumps the most in…
With the rapid strengthening of the US Dollar Index, that means that many other currences that comprise the index have been plunging in value. Let’s take a special look at the British Dollar and how spectacular that movement was. British Pound (Currency iShares) FXB: I chose to use the iShares chart rather than the British…
If you recently got disgusted and vowed never to look at a chart of Apple inc (AAPL) again, you missed a major move and locked yourself out of a valuable lesson. Let’s take a look at what’s happened since Apple’s ‘disgusting’ price action after their earnings report and where we stand now. Apple Daily (AAPL):…