web analytics

Gap and go or gap and crap?

Gaps are important. Gaps on charts can show powerful shifts in market dynamics, and we can identify some interesting tendencies around these gaps. Intraday traders often find an edge in fading gaps, but let’s look today what happens over a longer time span....

US Dollar trend update… next steps

Just a quick followup to this post, in which I suggested the US Dollar might be set for a fakeout rally (that has happened) that might fail into a sharp selloff (this could be setting up.) Let’s look at what has developed since I published that post a few days...

Bobbing for Apple?

Since my other post today led you down a long trail of something that did not work, let me leave you this weekend with a pattern to watch over the next several weeks. Let’s consider a potentially bearish pattern in Apple (Nasdaq: AAPL), and how that might play...

Chart of the Day: Anti in EURJPY

This chart shows a common context for the Anti pattern: following an overextension of an established trend (A), the market makes a sharp counter-trend move (B), and then pulls back in a complacent pullback (C). This sets up a condition that favors the possibility of...