Don't Ignore This Chart!June 03, 2009 at 08:55 AM
Barclays Plc (BCS) came across the island top scan from Tuesday's close. Notice how the stock gapped up, held the gap for one day with a doji and then gapped down with high volume on Tuesday. The doji represents an island where buyers are now trapped with a loss...Read More
Don't Ignore This Chart!June 02, 2009 at 02:06 PM
Even though stocks have been rising since early March, the cumulative Net New Highs indicator has been flat since early March. This shows a virtual stalemate between new 52-week highs and new 52-week lows. Obviously, the market can rally with a stalemate...Read More
Don't Ignore This Chart!June 01, 2009 at 06:59 PM
The Amex Airline Index ($XAL) surged around 5% with a big move off support on Monday. Notice how broken resistance around 16 turned into support in late April and again in May...Read More
Don't Ignore This Chart!May 29, 2009 at 07:43 PM
The Euro ETF (FXE) has been red hot with a move from around 125 in early March to 141 in late May. Interestingly, the rise in the Euro coincides with a rise in stock over this same period. FXE is fast approaching a resistance zone around 142.5-145...Read More
Don't Ignore This Chart!May 28, 2009 at 08:15 PM
While the US Oil Fund ETF (USO) bottomed in February, the US Natural Gas Fund ETF (UNG) continued lower and recorded a new low in late April. There was a big surge in early May and then a deep pullback the last two weeks...Read More
Don't Ignore This Chart!May 27, 2009 at 09:58 PM
While the western stock markets have clawed their way back towards positive territory the last few months, the Hang Seng ($HIS) turned year-to-date positive in early April and now sports a 24.31% gain...Read More
Don't Ignore This Chart!May 26, 2009 at 10:01 PM
The Nasdaq extended its battle with the 200-day moving average by jumping back above with a big advance on Tuesday. With this latest move, the index has now crossed the 200-day at least five times this month...Read More
Don't Ignore This Chart!May 22, 2009 at 12:47 AM
With the March-May advance, QQQQ has now retraced 38.2% of the May-November decline. Where does this number come from? It based on the Golden Ratio Congugate (.618). 1 - .618 = .382 or 38.2%...Read More
Don't Ignore This Chart!May 22, 2009 at 12:28 AM
The AD Volume Line for the Nasdaq broke its March trendline and formed a lower high in May. This indicator is a cumulative measure for the volume of advancing stocks less the volume of declining stocks...Read More
Don't Ignore This Chart!May 20, 2009 at 05:45 PM
Wal-Mart is tracing out a continuation head-and-shoulders pattern with neckline support around 47.5-48. It is a bit unusual because the neckline is sloping up, which reflects higher lows since early February...Read More
