I renamed today “TICK Divergence Tuesday” in honor of the numerous TICK Divergences that gave valid trading signals on April 14th’s intraday trading (in the SPY). Let’s look at these TICK Divergences, two bear-flags, and a 5-wave Elliott Pattern that guided the structure of the day. (Click for full-size chart) The main purpose of this…
The Financial sector has fared mighy well since the interum bottom on March 6th. Let’s see the unique 5-Swing (Quintuple!) Positive Momentum Divergence and the famous Cradle Trade that formed recently under price. Let’s start with the Positive Divergence. Generally, you identify a divergence by comparing one swing to another – such that price makes…
The moment Bulls have been anticipating has arrived: The S&P 500 Index officially formed a “Cradle Buy” signal with today’s bullish action (also known as a “Golden Cross”). Let’s see this up close and discover what it might mean. Before we get to the cradle, let’s look at the “Three Push” pattern, or Triple-Swing Positive…
I wanted to focus again on today’s intraday report on the simple TICK divergences that gave us powerful trading signals all through the choppy trading of April 7, 2009. Let’s see them up close. To me, a TICK Divergence is far more powerful than a standard oscillator divergence, due to the fact that we are…
With the S&P 500 closing just shy of 850, will this level hold as resistance? A test of the 20 week EMA and negative volume divergence hint that it may. Keep in mind that the market has recently ‘blown through’ key resistance levels so who’s to say this one is any more important? But it…
On my end-of-day summary of the ‘idealized’ intraday trades (a practice or journal I encourage all day traders to keep), I noticed something interesting – the intraday SPY (and DIA) high and low of March 25th formed on momentum and NYSE TICK Divergences. I thought I’d focus this post on those TICK divergences. SPY 5-min:…
Monday’s trading day gave us some interesting opportunities worth discussing, in terms of “Trend Day,” reversal, divergences, etc. Let’s step inside yesterday’s action to see key opportunities as they developed. SPY 5-min March 16, 2009: Looking at the 5-minute chart without the context of the higher timeframes reveals the day shaping up to be another…
Today’s DIA action featured a lengthy positive momentum divergence heading into the morning’s open which wound up being a valid pattern that gave ample warning of its developing structure. Let’s view it both on the 15 and 5 minute intraday charts. DIA 15-min: A quick take at the structure shows a “Three Push” pattern completed…
I wanted to highlight the possibility for a trend reversal or at least low-risk opportunity in the US Oil Fund (USO), or at a minimum, show a large-scale structure potentially playing itself out. USO Daily: Before reading, keep in mind that there’s no guarantee this pattern will produce the expected result, but it’s worth a…
Commodities across the board have taken massive falls throughout 2008. Let’s take a look at a possible Elliott Wave Analysis for the monthly and daily $CRB Commodity Index to see if we can place these moves within a broader structure. CRB Index Monthly : This structure takes price from the 1999 lows as the start…