Nightly late-night chart review sessions on twitter and Chart.ly. Follow me on twitter@theEquilibrium.
SPDR S&P Homebuilders (ETF) (NYSE) – daily- middle of ascending broadening wedge- take cues from behavior at the 20daySMA
Semiconductor HOLDRs (ETF) (NYSE) – weekly- just under primary downtrend resistance, and nearing 50% Fib at 26.17
S&P500 Index – daily- top of ascending broadening wedge [...]
Nightly late-night chart review sessions on twitter and Chart.ly. Follow me on twitter@theEquilibrium.
Semiconductor HOLDRs (ETF) (NYSE) – 30 min- falling further below declining 5 day SMA
Semiconductor HOLDRs (ETF) (NYSE) – daily- currently testing rising 20daySMA at 24.30
SPDR S&P Homebuilders (ETF) (NYSE) - weekly- pulling back from early ‘08 resistance toward inv. H&S neckline- pattern target is [...]
With the SPX up 2.33% and the Nasdaq up 1.10% on the week, I can’t help but notice that the SMH is down 1.08% over the same time period. The Naz, and in turn, SMH, have been the true strength of the rally from the March lows, so it is no real surprise to see [...]
Today’s Market Commentary Wednesday June 17, 2009
I have a quick errand to run this am so I will leave you with David Elliott’s thoughts.
Per David Elliott of www.wallstreetteachers.com :
“Today I am looking for some kind of bounce with our support levels here or nearby.
The McClellan Oscillator T2106 is in an area of giving an up day [...]
Today’s Market Commentary Thursday June 4, 2009
Well are sell signals worked out pretty good yesterday. We hit both my pullback targets on the DJIA yesterday 8650 and 8600 and the daily 200sma on the SP500. We rallied into the close and it appears that once the SP500 hit it’s daily 200sma buying came in and [...]
Today’s Market Commentary Wednesday May 20, 2009
As I look at my technical indicators I have 2 and 3 day Snap Back Up patterns on all the major indicies which indicate to me that our longer term up targets for the markets are still within reach. So today I am looking for a continuation of Monday’s move [...]
Today’s Market Commentary Tuesday May 12, 2009
Well what now, who knows and traders should not care if they are traders because traders trade the tape and take the opportunities the market gives them everyday. Keep it simple and stupid and do not fall into the trap of trying to become a economist to justify your [...]
Today’s Market Commentary Monday May 11, 2009
Well I shot a ETF in 60, which was going to be my video debut at FINZ.tv but due to technical difficulties we were not able to get it produced in time for today’s open. That’s ok it was a lot of fun and bloopers galore but my videos [...]
Ok the stress test results are out and the market is gapping up. This is good because we are going to gap up to levels that trades can be entered with a low risk high reward scenario. I am going to attach a number of charts so watch what [...]
Today’s Market Commentary Friday February 6, 2009
Well we got the lows I was looking for yesterday but we did not close down below them and that has been the problem. We have been doing this for 2 1/2 weeks. In order to test Nov. lows we need a close down below the lows we set [...]
