Chart of the Day: Gold: Set for a Breakdown?
Continued from this chart earlier this week, Gold shows further evidence of breaking down. If you do not have a position, use small daily consolidations to position short, for example,…
Chart of the Day: AAPL
Volatility contraction sets the stage for a selloff.
Chart of the Day: Gold
[dc]T[/dc]echnically speaking, the chart of Gold is complicated and unclear. To recap: the second half of 2011 saw a sharp collapse in prices. This selloff found support around 1600 (1,550…
A Problem with ETF Charts
One possible issue with "overnight" gaps affecting short-term patterns on ETP charts. Consider carefully whether you should be using futures or cash instead.
Short setup in Technology (XLK)
There is a clear bearish Anti setup in the Technology Sector SPDR (NYSE: XLK.) Linda Raschke first wrote about this pattern, and created the name for it. I have found it…
Chart of the Day: Pattern Breakdown in Corn
Grains have had dramatic uptrends for most of the summer. At A on this chart, we were looking at a possible long entry—had prices quickly recovered back above the bottom…
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…
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: 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…