ChartWatchers

December 2008

ChartWatchers

MARKET RALLIES TO FIND RESISTANCE

by Chip Anderson

I knew eventually we'd get a rally with legs. The recent long-term positive divergences across our major indices suggested a 50 day SMA test was on the horizon and that's exactly what we saw this past week... Read More 

ChartWatchers

GOLD BENEFITS FROM WEAK DOLLAR

by Chip Anderson

After surging from the low 70s to the upper 80s, the U.S. Dollar Index ($USD) experienced its sharpest decline in years. In fact, this week's decline was the sharpest in over 10 years. The bottom indicator window shows the 1-week Rate-of-Change dipping to -3.89% this week... Read More 

ChartWatchers

TIME RUNNING OUT ON RALLY

by Chip Anderson

Last week we looked at a descending wedge pattern on the S&P 500 chart that could have sparked a rally had it resolved to the upside. Prices actually did break upward, but volume was poor, and the up move stalled immediately... Read More 

ChartWatchers

WORLD MARKETS, CRUDE OIL, AND S&P ENERGY

by Chip Anderson

As we approach the end of the year, we find world stock markets attempting to trade a bit higher, although volatility remains quite high, but off it's worst high levels... Read More 

ChartWatchers

% NYSE STOCKS ABOVE 200 AVERAGE

by Chip Anderson

A reliable measure of the market's strength or weakness can be found in the % of NYSE stocks trading above their 200-day averages. That's because 200-day averages are used to measure a market's long-term trend. [A 50-day line measures short- and intermediate- market trends]... Read More 

ChartWatchers

CHARTSTYLES ARE POWERFUL, UNDERUSED FEATURE OF STOCKCHARTS

by Chip Anderson

Hello Fellow ChartWatchers! Happy Holidays and welcome to our December issue of ChartWatchers. We only do one newsletter in December and so you can bet it's a good one... Read More