The Technology Sector SPDR – Weak Volume Equals Lack of Conviction

By | November 10, 2018

In the month of October the technology space, as represented by the Technology Sector Select SPDR Fund (XLK) dropped over 10%, and moved below its 200 day moving average for the first time in more than two years. Nearly all the major players in the sector were hit and hit hard. Over the last three… Read More »

Repeating Pattern On The SPY Chart Projects 6% Downside

By | November 9, 2018

A pause in price action on Thursday was not unexpected after the strong rally on Wednesday. The pause, however, could be the second leg of a three-day bearish reversal pattern possibly under construction on the SPDR S&P 500 ETF (SPY) chart. This would be the same bearish pattern that marked the October 16 SPY high… Read More »

Jim Cramer Versus Carter Worth On The Direction Of Oil Prices

By | November 6, 2018

Monday night on CNBC’s Fast Money, the Chartmaster Carter Worth outlined his technical analysis of the crude oil market. In the video below he says that he expects crude oil to bounce off its current test of support on the chart, and move higher. Chartmaster says these are the bet names to buy on an… Read More »

Emerging Markets ETF Needs To Take Out This Resistance Level To Reverse Downtrend

By | November 4, 2018

The iShares Emerging Markets ETF (EEM) has been in a downtrend all year. Two weeks ago it closed just below the 50% Fibonacci retracement level of its 2016 low and 2018 high. It looked like the fund price might accelerate even lower. But in a sudden reversal last week, the EEM was up about 5.5%… Read More »

Apple Chart – A Head And Shoulders Breakdown

By | November 2, 2018

The Apple (AAPL) earnings report after the close on Thursday took the company’s share price down modestly. It was the call that followed which dealt a heavier blow. The after-hours close saw the stock price down $14.41, a drop of nearly 6.5% from its regular session close. Well into the call, CFO Luca Maestri mentioned… Read More »

A Halloween “Gravestone” Doji Formed On The S&P 500 Chart — It Suggests Further Downside

By | October 31, 2018

What happened in the last hour of trading today? Pretty much the opposite of what happened in the first hour of trading. The S&P 500 index gapped up 22.97 points at the open on Wednesday. It continued higher in the first hour of the session. After a brief pullback around noon it rallied to a… Read More »