Stock Market bulls can’t be overjoyed with the reality that crude oil prices hit yet another all-time high today, closing just shy of $115.00. Unfortunately, a potential bullish pattern completion will take prices even higher. If indeed the recent price consolidation throughout March was a type of ‘flag’ or consolidation pattern, then the approximately $24…
The US Dollar Index is still under pressure, and can’t manage to rise above its falling 20 day moving average. Each time, price has found resistance about this average, and the index has yet to close above it since early February. Of note, a triangle consolidation pattern has formed, which – depending on how the…
Thanks to the educational department of Market Club, who have compiled all 11 “Trader’s Educational Whiteboard” series into one location for ease of access. You can view all 11 Educational Videos in a theater-style format, where you can easily progress to the next video. All videos are presented by Adam Hewison, and last approximately 6…
Wednesday’s price action resulted in a type of “Trend Day” which gave nimble and aware traders an excellent opportunity to profit. Let’s take it point by point. 1. The morning opened with a gap just at 100 Dow points ($1.00 on the DIA). This was your first clue that we might have a trend day…
Rob Hanna at Quantifiable Edges conducted a study dedicated to mid-size index gaps that I wanted to share. Rob defined a mid-sized gap as 0.25% to 0.75% in the SPY (S&P 500 ETF), and tested the results going back to 1993. Of the 3,626 trading days, Rob found 613 “mid-sized gaps” to the upside which…
Media darling stock Google (GOOG) has staged a decent recovery off its March 2008 lows, but is the stock showing new signs of life? Before getting ultra-bullish on Google, I’d like to see it close perhaps a couple of days above the key resistance line and also the declining 50 period moving average, both of…
Crocs Inc (CROX), makers of the unique, comfortable shoes, has suffered yet another downside gap today. What should you do with the stock – if anything? Notice the strong down-trend which has been prevalent prior to the start of 2008. Since then, the stock experienced two downside gaps which were unfilled (also known as continuation…
As a trader, I thoroughly enjoyed today’s intraday swings and price action. Let’s take a closer look: The day began with an overnight gap just outside yesterday’s range (just above yesterday’s high) and immediately filled, giving the first opportunity of the day for a high-probability trade. When the ‘gap fade’ trade ended, one could have…
Today’s trading so far has been a dream come true for me. My two favorite patterns have played themselves out ultra-cleanly and as close to text-book as you can get. Let’s see what I mean: Earlier, I pointed out the Gap Fade Trade the market gave us like a gift this morning. The market wasn’t…
Today’s price action so far has been nothing shy of stellar and ideal for those who love to ‘fade the gap’. If you would like to know what a clean and ideal gap fade trade looks like, then keep this one for your records. The market opened with a relatively large impulse up that was…