With two hours of trading left, the US Stock Market indexes have shed over 2% of their value from yesterday’s close. Let’s learn a lesson from the intraday price movement so far and see where the charts may wind up for the day. First, the @YM Dow Mini June Futures Contract 5-minute chart: Be sure…
With the backdrop of potential recession, record oil prices, credit crisis, and other negative news, retail giant Wal-Mart (WMT) not only has broken to new highs for 2008, but is pennies shy of a fresh 6-year high, ascending 26% for 2008 alone! Let’s look at the charts to see what so many people have been…
Who expected such a large recovery would occur today? Let’s take a peek at some of the daily chart action in the broader indexes for clues as to why this intraday rally was so remarkable. First, the Small Cap Russell 2,000 daily chart: As mentioned previously in Small Caps Strongly Outperforming, the Russell 2,000 Index…
The Yield on the 10-Year Treasury Note continued its ascent after an orderly pullback occurred this week following a break to new highs of 2008. It appears it is set to continue to higher yields. The 10-Year T-Note Yield Chart (currently stands just above 4.0%) Price is in a confirmed short-term uptrend, and stands above…
For those of us who mainly follow the “Big Three” US Stock Market Indexes, you might be surprised to find that the Russell 2000 – Small Cap Index – has outperformed the S&P and Dow Jones, and is closer in recent performance to the NASDAQ. Let’s see the Russell’s recent dominance: I’m showing the actual…
I am excited to announce that I received word today that I had successfully passed the Chartered Market Technician Level 2 examination, offered through the Market Technician’s Association. The test was rather difficult, and required various textbook style assignments (reading full books) and taking notes across broad topics. Mostly, the test material centered on the…
Earlier, I’ve been revealing results of my recent studies into the relationship of fixed stop-losses and fixed profit targets, and how the affected win rate. Now it’s time to see what the effects were on Net Profitability! Revisit the previous posts for full study details: Revisiting Stop-Loss and Profit Target Affect on Win Rate Does…
It’s time for lower prices in the major US Indexes! So there are no guarantees, but the odds seem to favor a higher chance for more downside action in the short-term future. Let’s see why: First, the Dow Jones Daily Chart: Price failed at the confluence of the 20 and 50 EMAs Price formed a…
The Market Club Blog recently posted a full audio seminar complete with downloadable PDF booklet from trading legend Linda Raschke. Entitled Five Basic Trading Patterns and Their Application to the Market, Linda discusses some of her best patterns she uses in her daily trading activities. In the presentation, Linda describes the following patterns and set-ups:…
Barry Ritholtz at the Big Picture recently identified a potentially treacherous chart pattern which could have significant ramifications for the future. View the “Dangerous Black Swan Chart Formation” here. Actually, the chart is a joke, and a funny one I might add, which shows a black swan (a la Nassim Talim’s work The Black Swan)…