I wanted to show you an interesting Elliott Wave fractal that set-up into the close of the trading day for April 7th on the 1-minute chart – mainly to show the fractal nature of the Elliott Wave Principle. (Click for larger image) I’m also still keeping the TICK on the chart from last night’s post…
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…
A reader brought to my attention the TICK divergences and new TICK high that gave a clearer picture that the Day’s structure was NOT going to be a Trend Day but that odds favored a Rounded Reversal well in advance of the Cradle Trade. Let’s zoom back inside Monday’s SPY 5-min and go under the…
What a day! We got an early morning gap and then the remaining structure for the day formed an ideal Rounded Reversal. Let’s see this intraday development on the SPY 5-min chart. Typically, if a morning begins with a gap of over 100 Dow points (or in this case, $1.00 on the SPY, the S&P…
If you see a potential Bull Flag setting up, do you know how to project the Profit Target? Let’s use Friday’s intraday action and the bull flag that set-up mid-day to learn how to find the price projection point of a Measured Move or Bull Flag. I described earlier how to use the Fibonacci Price…
Earlier this afternoon, I updated Twitter followers to the Triple-Swing Negative TICK divergence that set-up into the noon highs and a few people requested that I show that on a chart. This post reflects the intraday action of April 2nd which shows a three-swing negative TICK divergence, three push pattern, and interesting Elliott Wave structure…
It seems like all eyes have been focused on the S&P 500 and what it’s been up to over the last few weeks. Let’s step inside the recent V-Bottom Reversal Formation that set-up and track the move on the 60 minute chart starting with the push to new lows and ending with mid-day April 2nd’s…
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…
Wow, what a day Friday gave us in the markets. Let’s look inside the price action to see what potentially profitable trade set-ups occurred in the intraday structure of the major stock market indexes. DIA Dow Jones 5-minute chart: Price began the day with an opening gap down, given the bearish ‘trend day’ from Thursday,…