Market CommentaryMore Market Commentary
This pattern forming on the charts was an excellent example of a fractal! Click the link HERE to see the NSC annotated Weekly chart that I will be referencing. Here we have an ascending triangle on the daily chart, and if we remove ourselves one time frame to the weekly chart we see a flag or perhaps we call it a pennant. Either way, it is our ascending triangle in a condensed version. We hit the 2% breakout mark, and touched but failed to close above our 3% breakout mark. On th...
March U.S. T-Note futures a selling opportunity more price weakness.
See on the daily bar chart for the March U.S. Treasury note futures that prices are in a five-week-old downtrend and have just hit an 11-week low. The bears have the near-term technical advantage. A move below chart support at Monday’s low of 124.06.5 would become a selling opportunity. The downside price objective would be 122.08.0, or below. Technical resistance, for which to place a protective buy stop just above, is loc...Read More
It should be clear to all at this point that the market has, for now, shaken off any concerns about the Fed and tapering. True, when the Fed begins sending its signals again, the market will have a noticeable negative response, but it will be relatively mild and not long-lived, much like what we just witnessed last week.
At this stage of this aging but not dying bull run, the market has other concerns, bigger concerns. Right now, around the globe, in tidy rooms filled with computers, folks ...Read More
“It was the best of times, it was the worst of times…” Charles Dickens
The longer I’m around, the more I find the word on the street actually gives pretty good investment advice. I know this goes counter to what most people say. But consider this: When gold was at $1,800 an oz. everyone knew it was going to $5,000. When silver was at $50 everyone knew it was going higher. When the euro was at 1.60 it was just pausing on its push up to 2.00. When APPL was at some really big number ever...Read More
With the reporting of a Hindenburg Omen last week, like Pavlov’s dog I rushed to check my charts for evidence of the Titanic Syndrome.
WHAT IS THE TITANIC SYNDROME?
The creator of the indicator, Bill Ohama, wrote that after the Titanic Syndrome, all major averages/indices will drop at least 10% from their highs. The Syndrome warned of the October 19, 1987 stock market crash as well as others.
HOW IT WORKS
The construction of the indicator is best explained by Ohama “The Titanic Syndrome is de...Read More
Featured StoriesMore Featured Stories
The head and shoulders top, coils, ascending triangles, descending triangles, wedges, and last but not least…scallops. There are a large number of patterns that the technical analyst uses to define particular setups in price action that he can act upon and trade with a favorable risk to reward.
Many are common, with varying names, some are more rare, and less known, such as the scallops, initially brought to my attention by Technical Analysis of Stock Trends by Edwards and Magee. The market h...
With the holiday season and year end approaching, the IPO market looks poised for one more flurry of deals before firms close their books on 2013. Among the twelve confirmed upcoming IPOs is one more headliner that is sure to generate plenty of interest.
Hilton Worldwide Holdings , the world’s largest hotel company with over 4,000 properties worldwide, is set to go public on December 13, offering 112.8 million shares within a range of $18-$21. Given the prominence of the IPO, it’s not surpr...Read More
Without a doubt wave labelling is one of the most important skills an Elliott Wave practitioner must learn and work on.
It is of my opinion that this is where a lot of students of the principle fail in understanding and gaining the real benefits of the principle, this requires in-depth knowledge of the patterns, rules and guidelines. A diagram of an idealized Elliott Wave Cycle should always be in clear view of the analyst and under that multiple degrees of the wave labelling the practitione...
A few colleagues and I were chatting after their return from a recent trader’s expo, and the topic of Futures versus Forex came up.
This seems to have been a hot topic from the event and the subject of numerous debates between the various traders in attendance. The forex traders argued in favor of their ability to trade day and night, without the time constraints futures traders' experience. Futures traders contested that their wide variety of trading opportunities, ranging from currencies, e...
Whenever we look at different places where to put our money, real estate has always come to our minds as traditional investors have made lots and lots of money in this market. It’s only in recent times that with a credit freeze, the brick market has suffered an important contraction.
Fortunately, the tide seems to be turning as we see some interesting growth in the chart of the PHLX Housing Sector Index .
NAHB HOLDS ABOVE 50
The first reason that makes us think this market is ready for us to ...Read More