Is Apple Inc (AAPL) coming up on a short-term buy signal? Let’s look at the price structure to see. Let’s start with the weekly chart: Price may be finding potential support at the rising 20 week moving average, which could set-up a low risk entry (with a stop possibly beneath the 20 period average or…
How could the stock of such a well-known company as Starbucks (SBUX) plunge so dramatically in such a short time? Let’s look at the charts to see clues and potentially profitable zones we could have seen on the charts. Starbucks Monthly: The structure of the weekly chart shows a very interesting pattern. The stock languished…
Did the “gap fade” technique deliver edge as usual in the month of June for the Dow Jones Index ETF the DIA Diamonds? Each month I compile the number of trading days in the DIA that had an overnight gap of at least $0.20 (20 Dow Points) and calculate how many of those gaps filled…
Crude Oil has been, and is currently, the focus of an extraordinary amount of coverage in the media, and is a dominant topic at the watercoolers and at home. Ask anyone you see and odds are they have a strong opinion about high crude oil (or gasoline) prices – and it’s probably strongly negative. This…
Shockingly to me and many traders, US Steel (X) violated a breakout pattern in a strong uptrend to create a reversal and strong plunge, suddenly invalidating the pattern and shattering support in a short period of time. US Steel broke a potential triple top and horizontal resistance pattern at the $185 per share level, drawing…
Research in Motion (RIMM) was in the news prominently last week as the stock plunged after slightly missing earnings expectations. The stock has now found temporary support about its 200 day moving average. How far will the bounce go? The logical reaction after a large volatility momentum move down is an inflection (retracement) back to…
Today was quite the interesting and surprising day in the major US Indexes. Why? They flip-flopped more than a politician campaigning. Let’s reveal the intraday action and see if there’s anything we can learn from today’s action. DIA – Dow Jones 5-min chart: There really is so much to say about today’s action. Let’s start…
Last month was the worst June since the Depression – the Dow fell 10% in one month alone. Let’s look at the structure of the monthly index charts to see what their story tells us about the possible future. Dow Jones: The key feature of this chart is that price has closed beneath the rising…
Today’s action slammed both bulls and bears… more than once! It was another rough trading day, which can be expected during the summer months of low (relative) volume. Let’s view some of the price structure trades that could have been taken, in an effort to familiarize ourselves and trade more appropriately next time. Let’s use…
Gold prices and the Gold ETF (GLD) broke an interesting descending triangle early this morning that I wanted to highlight to you. GLD 5-minute chart (StreetTracks Gold Trust Shares): Price began the day with a morning gap that was almost instantly faded for the opening trade. Price then rebounded off Friday’s close and the 50…