With the stock market bouncing off the lows for a second time, price is now back to key moving average resistance levels in all major indexes. If we can close over these key resistance levels, then the uptrend to new all time highs is back in play. The $INDU $QQQ and $SPY short term resistance […]
The 3 Key Resistance Levels $SPY $INDU $QQQ Read More »
$SPY had a Bullish engulfing candlestick reversal Friday. Generally, the larger the white candlestick and the greater the engulfing, the more bullish the reversal. $SPY had a bullish MACD crossover Friday. $SPY closed above the 5 day EMA and traded for three days above it’s 5 day EMA. $SPY is at the top of a
10 Bullish Chart Facts on $SPY Read More »
$IWM has closed lower than the previous day 9 out of the last 10 days. This is bearish. Wednesday’s rally was rejected Thursday. This is bearish. The MACD is under a big bearish cross. $IWM did have a reversal candle today, but it failed to close over yesterday’s high of day. $IWM is down -8.9%
10 Facts About the $IWM Chart Read More »
A market is trading under it’s 200 day simple moving average. The market price is trading under all short term moving averages. The MACD has made a bearish crossover. The daily chart’s RSI is under 30. A chart has made lower highs and lower lows for weeks. You are seeing large wicks at the top
10 Signs a Market is in a Downtrend Read More »
Having a bull mindset in a bear market is not profitable. Bear markets have no long term support, they can make lower lows for a long time. Buying pullbacks is not profitable in bear markets because pullbacks turn into downtrends, and old support becomes the new resistance. Buying dips stops working. Bulls end up getting
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The chart had a lot of mixed signals last week without many actionable signals. The Fed decision to keep rates unchanged was a sell the news event. $SPY has settled back into a trading range after failing to breakout on the Fed decision. Two back-to-back shooting star candlesticks show that higher prices were sold into
10 Fast Facts on the $SPY Chart: 9/20/15 Read More »
The $QQQ chart has formed an ascending triangle chart pattern. $QQQ closed over the 200 day moving average. $QQQ broke out of an 18 day trading range today. This chart has made higher lows for 5 straight days. This chart has made higher highs for 3 straight days. The Fed meeting will likely provide a
10 Fast Facts About the $QQQ Chart: 9/16/15 Read More »
The $SPY downtrend stopped after the bottom 3 weeks ago, and $SPY has gone back to a range bound market. The $SPY chart is currently forming a symmetrical triangle chart pattern. There have been 15 days of lower highs and lower lows showing a range compression of prices. Which trend line we break first will
$SPY Chart Triangle Signals: 9/13/15 Read More »
The market is still in bear territory under the 200 day simple moving average. The MACD is extremely bearish, showing a lack of momentum. Up days continue to be on lower volume and down days on higher volume, which shows distribution. A 27.80 $VIX is not bullish, it demonstrates uncertainty. The RSI is weak at
10 Fast Facts About the $SPY Chart: 9/5/15 Read More »
The sell off last week was fast and furious, even compared to 2000 and 2008. Once the $SPY lost the 200 day simple moving average, distribution set in. There was virtually no price recovery as the Dow Jones Industrial Average shed 2,000 points over five trading days. On Wednesday the bounce began. There is a
$SPY Chart Signals: 8/30/15 Read More »