Archive for category: Chart Reading

Do Bears Drive Electric Cars?

22 Dec
December 22, 2014

      Electric car companies are all the rage when oil is expensive, but what happens when the oil market takes a dive? Follow along, step-by-step, with my Tesla trade made the week of 12/2/2014. As oil fell day after day, electric car company Tesla showed weakness in price, resulting inĀ several down days in […]

Facts About the $SPY Chart: 12/21/14

21 Dec
December 21, 2014

  I am not counting the long extended wick on the $SPY chart becasue this is what happened: Berserk, Broken Rampathon Algo “Buys” The S&P At 2,130 The all time high that is relevant after the dividend on the adjusted $SPY chart is now $207.50 and on the $SPX it is now $2079.50. Breaking out […]

What Causes A Gap & Go?

18 Dec
December 18, 2014

  When a market gaps up out of a trading range it confounds many traders. They do not understand how the price can gap up to a whole new trading range, stay there all day, and even go higher through the day. If the gap is out of an oversold level it is actually a […]

$SPY : High Probability Buy Levels

14 Dec
December 14, 2014

    The profitable trading system in the stock market for the past two years has been to but the dip. The question is what level presents the best probabilities for a dip buying bounce? We currently have three key support levels converging: The 50 day moving average at $200.22. The $200 price century mark […]

$SPY Chart: 10 Facts 12/7/14

07 Dec
December 7, 2014

  $SPY has been in a $205 support and $208.50 resistance trading range for two weeks. For the pastĀ  seven out of ten days $SPY has closed lower than it opened. This is a sign of distribution. A bearish MACD crossover is signaling a leveling out in the up trend and a loss of momentum. […]