H&S Top On The NASDAQ Chart – Identical To The One In Early September – That One Sparked A 12% Decline

By | October 15, 2020

At noon on Wednesday I Tweeted out “am I the first to call double top?” I attached this weekly chart of the NASDAQ Composite chart. The Tweet was tongue-in-cheek but as it turned out two hours later in another tweet, I noted a possible head and shoulders pattern forming on the daily NASDAQ chart. It… Read More »

Hasbro – Technical Analysis On Multiple Timeframes – Part One

By | October 8, 2020

Hasbro (HAS) is not a stock that gets a lot of regular attention. It doesn’t come up on my equity screens very often. Stocks like Electronic Arts (EA) and Take-Two Interactive Software (TTWO) certainly have, as the shift from hands-on play to virtual gaming has continued. So, when Hasbro appeared on one of my long… Read More »

Dow Industrials – Conjoined Head And Shoulders Patterns

By | October 7, 2020

Last month a head and shoulders pattern formed on the Dow Jones Industrial daily chart. The neckline of the pattern around the 27500 level was intersecting with the rising 50 day moving average. A break through those support levels projected a return to the 2600 area and had the potential for a much deeper loss.… Read More »

Potential Head And Shoulders Top Forming On The Dow Chart

By | September 18, 2020

The previous post looked at the possible formation of a bear flag on the NASDAQ Composite daily chart. It implied a decline that retraced 50% of the previous March/September rally range. Another bearish reversal formation is under construction and near completion on the Dow Jones Industrial Average chart. A classic head and shoulders pattern has… Read More »

The Nasdaq “Bear Flag” Projects A 50% Retracement Of The March/September Rally

By | September 17, 2020

Last week the NASDAQ Composite broke the long term trend line that has defined the six month March/September rally. Since then it has been trading in a narrow range below that uptrend line and around its 50 day moving average. The price action since the NAZ made its recent high and the consolidation after the… Read More »

The Financial Sector Could Be Poised To Out Perform The Broader Market

By | August 29, 2020

The financial sector has chronically under-performed the broader market over an extended period of time. That dynamic may be in the early stages of a transformation. Last week the S&P 500 Index returned to its high of the year. This week it has made incrementally new all-time highs. By contrast the financial sector, as represented… Read More »

This Pattern Is Why Bitcoin Could Rally Much Higher

By | August 15, 2020

(Back from a long vacation.) The price of Bitcoin has rallied right along with the stock market over the last several months. But Bitcoin has been engaged in a much more significant process over the last ten months. It has been forming a strong foundational base. The recent breakout from that base could propel the… Read More »