RightView Trading was featured once again, on the “Off The Charts” segment of Mad Money tonight. Jim Cramer and his team always do a fantastic job of bringing the two dimensional pictographs to life. We greatly appreciate their work. Tonight’s piece was a follow-up to a February segment where we examined the broader market averages.… Read More »
The S&P 500 index gapped higher last Friday but, as I noted in the previous post, the initial move faded and the close was well into the day’s lower range. That pull back formed a spinning top candle. A spinning top and also the doji candle, is a candlestick whose close is at or near… Read More »
While the action that played out on the charts of the major market averages on Friday may seem at first bullish, there were some underlying technical issues. The Dow Jones Industrial Average was up over 500 points early in Friday’s session and finished out the day 319 points higher. The S&P was up about 2%… Read More »
Surprisingly, over the last four months the share price of Tesla (TSLA) has outperformed the S&P 500 index by about 15%. The stock made a low in June and then quickly reversed direction climbing higher into July. A sudden downside gap reversed that upside momentum and took price back down to the $210 level. This… Read More »
CF Industries Holdings (CF) is in the fertilizer business. It produces nitrogen and ammonia based products for distribution worldwide. Over the last three months the stock price has been consolidating in a symmetrical triangle pattern. Recent lows have reinforced the idea of trend line support positioned in the $47.50 area and today price is peeking… Read More »
The weekly chart of Proofpoint (PFPT) shows several attempts over the last two years to break above the $130 level. Another attempt is underway. Watch for a confirmed breakout which could potentially be the start of a new bull phase. Shares of Delta Airlines (DAL) have been declining since August this year. More recently they… Read More »
Shares of Dunkin’ Brands (DNKN) have been trending higher since early 2016. The move from $35 to its current level of $78.14 represents a 122% advance. But as the rally in the stock progressed there were also periods of retracement along the way. Two technical conditions on the weekly chart have signaled several of these… Read More »
Disney (DIS) shares spent the four years between 2015 and 2019 consolidating in a triangular range. That range narrowed from $30 at its widest, to $15 at its most compressed. In April this year Disney broke out. The breakout can be seen on the weekly chart. The long consolidation period formed a triangle pattern on… Read More »
The S&P 500 index spent most of the month of August consolidating in a 4% wide channel between 2940 and 2820. This month it broke above resistance and traded up to the area of the July highs. A closer look at the S&P 500 daily chart shows new resistance in the 3030 to 3020 area.… Read More »
Thursday on Twitter we pondered the possibility that a bullish morningstar reversal pattern could be forming on the $SPY daily chart. The only piece of the pattern missing was the third and final large bodied up-day candle. That was exactly what we got at the end of Friday’s strong session, with the formation of a… Read More »