Category Archives: Market Overview

Caution! – Bearish Patterns On The Major Market Index Charts

On Thursday it looked like a triple top had formed on the Russell 2000 chart. Three consecutive bearish engulfing candles formed at channel resistance and it appeared the consolidation pattern was going to resolve to the downside. The analysis was posted here. As it turned out the small-caps were hit hard on Friday and the… Read More »

Three Bearish Engulfing Candles On The Russell 2000 Chart Suggest A Possible Triple Top

A pattern of bearish engulfing candles has formed on the iShares Russell 2000 ETF (IWM) daily chart, which could be an indication that the small-cap sector has made a intermediate term top. In June a bearish engulfing candle formed just below the $170 level. The pattern was repeated again in July and once more just… Read More »

Jim Cramer And Bob Lang Go “Off The Charts” And Look At Three Biotech Buys

Bob Lang, the founder of ExplosiveOptions.net and part of TheStreet.com’s Trifecta Stocks newsletter team gave his technical take on three stocks in the biotechnology sector, on the “Off the Charts” segment of Mad Money tonight. Cramer’s charts suggest big-name biotech stocks Gilead and Celgene have more room to run from CNBC. Gilead Sciences (GILD), Celegene… Read More »

Eveningstar Patterns On Electronic Arts & Activision Charts Could Be Bad For NVIDIA

The price action in Electronic Arts (EA) is closely correlated to the price action in Activision Blizzard (ATVI), as would be expected with the two biggest names in the gaming industry. In trading on Monday shares of both companies were down and this large dark down-day candle completed the formation of a eveningstar pattern on… Read More »