http://www.thebullbear.com/profiles/blogs/long-term-global-head-and-shoulders-top-likely-in-place A bit of economic news sparked a minor rally on Tuesday. The Dow touched a new 4 year intraday high and the financial news media celebrated the moment with banner headlines: In spite of the fact that not one market index anywhere in the world even came close to confirming the new Dow [...]
IWM is the ETF for the Russell 2000 Index. The Russell is a leading indicator for the stock market, since speculative money tends to move in and out of small cap stocks first. Below is a Friday’s daily chart of the IWM. Look at the beautiful parallel bullish channel that just bottomed with the recent [...]
The last post analysis identified a symmetrical triangle pattern in the SPY (ETF for S&P 500). This triangle was formed after a huge rally in the month of October. All signs were pointed toward an upward breakout leading us into the end of the year with a nice Santa rally. Well, symmetrical triangles can break [...]
With the exception of more shockingly bad news on the European debt front, the chart pattern in setting up perfectly for an end of the year Christmas rally. After a huge pullback late spring and through most of the summer, the S&P 500 staged an incredible rally in the month of October. Then, the past [...]
The last (but not least) study for this weekend – promised – , unfortunately another one suggesting a significantly better-than-random chance for at least one lower close over the course of the next four sessions. On Friday’s session the SPY (S&P 500 SPDR) closed in the top quartile of its daily trading range on the [...]
www.CartoonStock.com A second setup triggered on the close of October 31, 2011, caught my eye today. The S&P 500 closed out the month of October with an impressive 10.77% gain, but was still down -0.35% year-to-date due to a weak final session of October. The table below shows all historical [...]
www.CartoonStock.com Sorry for the posting hiatus during the last couple of month. More to come (but it may take some time to get into a – hopefully – daily routine again, please stay tuned …) With the S&P 500 up 10.77% for the month of October and probably (at least [...]
We have technically entered a bear market as defined by most leading chartists. The criteria of a bear market is when the indices are trading below both their 50 day moving average and 200 day moving average AND the 50 day moving average has crossed down beneath the 200 day moving average. All the major [...]
Those consumed by fears of the United States government defaulting on its debt fail to see the bigger financial picture. It’s similar to worrying about Bill Gates not paying off a billion dollar credit balance. Sure, it’s never stress-free when such vast sums are involved, but let’s not kid ourselves; America still has more money [...]
One of our traders caught a nice move up off the bottom today. There are 3 parts to the trade. Enjoy.
Part 1
Part 2
Part 3
