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Time To Reverse?
Today’s reversal is significant. A third swing drive to a high ended today with bearish engulfing candle. A worse than expected unemployment report could send the index sliding.
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Will SPX Long-Term Trendline Support Fail?
I thought the market might hold the SPX 50 dma, but that quickly failed. Friday’s trade began with a breach below the SPX 50dma. Failure to move back above the previous day’s support set up a lower...
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Long Term Trendlines
Yesterday I posted some long term trendlines. Here’s the chart I posted for the E-mini SP500. Then below, you can see how important it becomes when it fails intraday, and acts as a target late in the...
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E-Mini SP 500 Three Drives Higher Short
When stocks, futures, or ETFs are hitting new highs, you have to expect that they will continue to do so. This is true for all time spans. The same thinking must be used in reverse when equities are...
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4th Candle Surprise
So we had the double bottom in the SPX. We also held the long-term support line from the top. So on Friday when I see them take the market down, I count the candles up since the last pivot hammer. I...
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Compressed Higher High Candle Bull Trap
The XAU has dropped significantly the past two weeks to around it’s 200 dma. Then price compressed for two days. This “coiling” is usually released like a spring in the same direction of the current...
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3 Drives Up
Three drives up followed by a failed 4th pop. Short the 4th pop for a retrace. 5 minute chart. daily at the time.
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Why I Bought Weakness – 2 Gaps
I prefer trading into strength. Last week though, a seven day bearish streak concluded with the worst Thanksgiving trading week since 1932. Now, I can’t just buy on that fact alone. I started looking...
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DUST Weekly Chart – 051512
This weekly chart of the DUST ETF is just beautiful. I’m going to stick this in my trading patterns section. You had a major support area build up, which was touched three times. You then had a retest...
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DSLV Inverse Silver ETF – 051612
This is what can happen when a stock or ETF breaks out of an 8- 12 week consolidation. The inverse silver ETF DSLV was aided by making higher lows and highs, as it crept up that trendline.
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