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Broad Markets Approaching Minor Support, Additional Downside Likely

After the brief whipsaw sell signal (false breakdown) in the SPY two weeks ago today, price went on to breakdown & backtest the rising wedge pattern & have moved impulsively lower since, tagging the S1 support level (minor support) this morning. As minor support levels (S1, S2, etc...) are levels where I expect any reactions [...]

Jul 31, 2014 10:51am|Categories: Equity Market Analysis|Tags: , , |Comments Off on Broad Markets Approaching Minor Support, Additional Downside Likely

SPY Sell Signal Triggered

The SPY/$SPX is now trading well below the uptrend line shown on the previous 2 hour charts.  This breakdown increases the chances for a move down to the T1 & T2 target areas (177-177.50 & 174.65-175).  Assuming that T2 is hit, this would correlate to roughly another 500 point drop in the $DJIA, in addition [...]

Jan 23, 2014 11:01am|Categories: Equity Market Analysis|Tags: , , , |Comments Off on SPY Sell Signal Triggered

Equity & Fixed Income Markets Overview

The first series of charts below are some of the major US stock indices, including annotations.  Basically, most US indices, other than the Dow Jones Industrials, continue to make higher highs while nearly all key momentum indicators and price oscillators continue to print lower highs (i.e.- negative divergences).  Such multi-month divergences were also formed leading [...]

Oct 18, 2013 1:08pm|Categories: Equity Market Analysis, Fixed Income (Bonds), Trading Tips|Tags: , , , , , |Comments Off on Equity & Fixed Income Markets Overview

US Indices Threatening to Break Key Support Levels

All of the key US indices continue to flirt with key support with nearly all short-term trend indicators on sell signals and the intermediate-term uptrend in jeopardy should these support levels give way with the expected acceleration to the downside.  Daily charts of the $SPX, $NDX, $DJIA, & $RUT are shown below with live links [...]

Oct 8, 2013 10:32am|Categories: Equity Market Analysis|Tags: , , , |Comments Off on US Indices Threatening to Break Key Support Levels

$DJIA Intermediate-Trend Confirmed Bearish

Although not as diversified an index as the S&P 500 (which still remains on a intermediate-term sell signal via the 20/50 ema trend indicator, even as it closes up strong today), it is worth mentioning that the $DJIA (Dow Jones Industrials Index) triggered a bearish 20/50 ema "death cross" nearly two weeks before the S&P [...]

Sep 4, 2013 4:15pm|Categories: Equity Market Analysis|Tags: |Comments Off on $DJIA Intermediate-Trend Confirmed Bearish

Island Cluster Reversal Patterns?

It's worth mentioning that today's large gap down on most of major diversified indices may have put Island Cluster Reversal Patterns in place.  By most definitions, these patterns are defined by an "island" of candlesticks surrounded by roughly equal gaps on each side.  Over the years I have seen many liberties taken to make a [...]

Aug 15, 2013 10:32pm|Categories: Equity Market Analysis|Tags: , , , |Comments Off on Island Cluster Reversal Patterns?
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