The modest gain in yesterday’s S&P 500 Index was notable. The index closed above the weekly and daily resistance area on our chart at 2832.94, for the first time since October 2018. RightView Trading’s take on the broader market was featured on the February 5th “Off the Charts” segment of Mad Money. At that time… Read More »
The SPDR Gold Shares ETF has had a propensity to trade in large triangle patterns on a long term timeframe. Since, early 2014 the fund has been rising in a complex triangle pattern. That is, one smaller triangle that formed in 2017 to 2018 situated within a larger multi-year triangle that began in 2014. This… Read More »
The Dow Jones Transportation Average has dropped back below its 200 day moving average and is testing an uptrend line that has been in place since the beginning of the year. The 200 day average thwarted the transportation average’s advance several times at the end of last year, and one such test directly preceded the… Read More »
The small-cap stocks have historically led the broader markets. In the past, changes in the direction of the Russell 2000 Small-Cap Index have preceded changes in the direction of the market as a whole. Not always but it has often been the case. So, when a reliable reversal pattern forms on the Russell chart it… Read More »
The major market indices are back to where they were before the alarming December decline and the euphoric December rally. It is important to understand what this means from a supply and demand perspective. Those traders who held long positions through this four month roller coaster ride may be very happy to have recovered their… Read More »
Doji candles formed on the weekly charts of the major market averages last week. A doji candle has a very narrow opening and closing range, often with a a high wick or long lower shadow. They are often seen at market tops but can reflect uncertainty and as such can be continuation candles. Now take… Read More »
Thanks, once again, to Jim Cramer and his terrific staff for the opportunity to be featured on the “Off the Charts” segment of Mad Money. Cramer: Charts suggest investors ‘can afford to be cautiously optimistic’ from CNBC.
Over the last 52 weeks McDonalds (MCD) shares outperformed the S&P 500 index by about 8%, but year-to-date they have underperformed by that same percentage. The stock is not participating in the current broader market rally and a double top may have formed on the daily chart. McDonalds high in November touched the $190 level… Read More »
Here you go. Charts with annotations:
Microsoft (MSFT) reports after the cloe on Wednesday. The stock is down over 2% in afternoon trading on Tuesday and has dropped below its rising 200 day moving average. But over the last year, the Microsoft has been a strong outperformer relative to the Technology Select Sector SPDR Fund (XLK). Let’s look at the daily… Read More »