November 5th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday saw most, if not all, our upside targets hit for the Index markets as well as for our stock targets.
The SP-500 and the QQQQ, both retested their 50 SMA and failed.
We call that price pattern an IHF, “Ice Hole Failure”. Typically that pattern resolves itself into taking out the most recent [...]
October 26th, 2009 by jsfalvo | Comments
Per David Elliott :
Friday’s market reversed most of the gains from Thursday.
This candlestick pattern with two large red candles with a green day in the middle usually resolves to the down side at market tops.
I call it the ice cream sandwich candle pattern for down moves.
Again it is important for any market sell-off to see [...]
October 22nd, 2009 by jsfalvo | Comments
Per David Elliott :
Our comments of sellers at yesterday’s highs, was again tested today, and found more sellers, enough to give the DJ-30 a market swing of 176 points from a new DJ high to the low.
This market swing created another Key Reversal signal on the Daily, and a Bear Engulfing pattern on the 2 day charts for [...]
October 22nd, 2009 by jsfalvo | Comments
Per David Elliott :
Our comments of sellers at yesterday’s highs, was again tested today, and found more sellers, enough to give the DJ-30 a market swing of 176 points from a new DJ high to the low.
This market swing created another Key Reversal signal on the Daily, and a Bear Engulfing pattern on the 2 day charts for [...]
October 20th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday saw little Index dip moves and a market run starting at 10:00AM.
Our SOAP Sell set-up is still valid with a good market drop, that did not happen today.
AAPL hit our dip target then rallied thru the close to a $20 point swing from the low.
AMZN missed out dip target by a [...]
October 20th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday saw little Index dip moves and a market run starting at 10:00AM.
Our SOAP Sell set-up is still valid with a good market drop, that did not happen today.
AAPL hit our dip target then rallied thru the close to a $20 point swing from the low.
AMZN missed out dip target by a [...]
August 1st, 2009 by theequilibrium | Comments
Nightly late-night chart review sessions on twitter and Chart.ly. Follow me on twitter@theEquilibrium.
Wells Fargo & Company (NYSE) – daily: weak bull flag break- still in 22-26 range- wait for confirmed break to reveal next big move
JPMorgan Chase & Co. (NYSE) – daily: bull flag breakout move now up against resistance on decreasing volume-watch move above 39.50
May 13th, 2009 by theequilibrium | Comments
With the XLF closing 13% below its recent high of 13.08, I wanted to revisit a chart I previously posted, and then take a closer look at the three top holdings of this financial ETF. Together, JPM, WFC, and GS, account for more than 27.5% of the entire XLF (JPM=13.16%, WFC=7.95%, and GS=6.45%) and looking [...]
