Chart of the Day: Spring Setup in Corn
Corn is engaging the broad support zone at the bottom of the range. Watch for reversals and enter long positions on strong upward closes, which would put in classic Wyckoff…
Chart of the Day: Failure Test in AAPL
This chart shows a clean failure test in AAPL. The pattern is a brief probe above resistance, followed by an immediate failure and sharp reversal. Many traders would be reluctant…
Chart of the Day: Long-term S&P 500 Bias
Today's chart of the day will be a little different. Take a look at this table which shows 2 week, 1, 3, 6, and 12 month returns for every trading…
Chart of the Day: Breakout in the S&P 500
One of the tools I use to evaluate market action is the standard deviation spike, which expresses each day's return a standard deviation of the previous 20 trading days. (This…
Chart of the Day: Bullish Consolidation in Gold
The small consolidation (B) above the top of the parallel trend channel should provide another spot to add to or to initiate long positions on further strength. One way to…
Chart of the Day: Bull flag in Gold
Though I have written before about a potential longer-term timeframe short setup in precious metals, Gold and Silver both show overtly bullish patterns. Longs are justified on upside breakouts in…
Some hard questions.
[dc]I[/dc] want to share a few thoughts today on technical trading in general. The points in bold come from the end of the first part of my recent book, The…
Chart of the Day: HAIN
Long-time market leader consistently outperforming broad market, sector and peers. Check. Positive earnings surprise. Check. Several days of tight consolidation at highs. Check. This is an excellent technical setup to…
Chart of the Day: Volume
This is a chart of NYSE Total Volume with 1 week (red) and 1 month (blue) moving averages applied. There is a seasonal pattern to volume, volatility and trading activity,…
A little mental trick…
I want to share a quick thought with you today--a little trick in thinking that made a big difference in my trading a few years ago. One of the problems…
Chart of the Day: Consolidation in AAPL
One of the reasons we watch and study market leaders is that they can sometimes provide clues to market direction. Yes, they often get harder than the broad market at…
Chart of the Day: Parallel Trendline in Gold
When markets are in consolidation (i.e., moving sideways) it is very difficult to find strong edges. Markets tend to be more random, and no consistent profits are possible in a…
Chart of the Day: Context in ABX
This daily chart of ABX shows a stock that may have found a bottom: after several potential bottoming formations, the rally has carried the stock the upper Keltner channel, suggesting…
Chart of the Day: Potential Failure Test in Beans
The most important levels in markets are those that are clearly visible to all market participants. The July pivot high in Soybeans is a good example of an important level…
Working on Exit Skills
[dc]O[/dc]ne of the challenges developing traders face is learning to manage positions effectively. Think about it for a minute—how many books do you know that show patterns and setups for…
Chart of the Day: Bear Flag in EURUSD
The bear flag is a pattern that plays out in all markets, though it tends to resolve less clearly (i.e., with more fakeouts and false breakouts) in currencies. Why? I'm…
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