Air pockets have appeared in the intraday charts. Is this the top, or a top. That higher right shoulder makes me suspicious. I can’t remember the last time that pattern has broken down let alone into a sustained decline.
Support is suggested at 3…
Back in 2008-2009, I chronicled how the Primary Dealers caused the stock market crash. They were the most important and least recognized cause of what the media has labeled the Great Financial Crisis.
The dealers were overleveraged and positioned wrong then. They are overleveraged and positioned wrong today.
Need I say more?
You know what it means.
Here’s the expanded 2 hour bar chart. Allow yourself to see the big picture.
Click to engorge.
Zooming in to one hour bars, the uptrend is slowing, but it is still an uptrend.
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Support was attacked and held in both the metal and the miners. Here are 5 mining picks that look ready for a swing. Subscribers, click…
Support was attacked and held in both the metal and the miners. Here are 5 mining picks that look ready for a swing.
Rule Number One of Modern Technical Analysis.
All chart patterns are bullish. It doesn’t matter what it is. If it’s a double top- Bullish. Head and shoulders – Bullish. Flag, wedge, diamond, saucer, cup and handle, reverse cup and handle, three p…
You can see it clearly. The ES fucutures are near the upper bound of a trend going back to the beginning of January. A bunch of trendlines are clustered around 3920-25.
The uptrend channels are being tested, but so far, not violated. The number to watch in the 5 AM hour in New Yawk is around 3890. It’s rising at about 1 point per hour. To keep the trend intact it would need to be at 3895 or better at 10 AM ET.
Mike Tyson famously said, “Everyone has a plan until they get punched in the mouth.” OK, so the market didn’t quite punch us in the mouth last week, but it did lull me to sleep last weekend. No worries. This week, there were so many charts with buy signals, I’m going all YOLO.
Withholding tax collections have exploded upward over the past month through February 3. Other date confirm the strengthening. Here’s what this means for portfolio strategy and trading tactics.