Bond yields continue to reflect a risk-off environment. It has been that way for a long time but when that docile dynamic starts to reverse, it could accelerate quickly. Traders should be prepared to profit from the machinations of the “bond vigilantes,” and higher yields. Jeffrey Gundlach, of DoubleLine Capital has been warning about corporate… Read More »
All the significant highs that were made on the Russell 2000 (RUT) chart, going back to October 2018 have been signaled by an eveningstar candle pattern. Most readers know what a candlestick pattern is and what it suggests about trader sentiment. The eveningstar is a three day reversal pattern that starts with a large up-day… Read More »
Caterpillar (CAT) is a component of the Dow Jones Industrial Average (DJIA) and, as such, is a good measure of the condition of the traditional industrial sector. It’s machinery is used in mining, agriculture, infrastructure rebuilding, and many other areas of heavy construction. Another aspect of Caterpillar’s importance is as a measure of the world… Read More »
The S&P 500 index is back to its September 2018 high. It has managed to retrace all of that late year decline. This means that traders who held on and rode out the volatility of the last five months are back to even. The adroit traders who sold near the highs last year and were… Read More »
A nearly seven month inverse head and shoulders pattern has formed on the Financial Select Sector SPDR Fund (XLF) weekly chart. This bottoming process began in October last year and was completed by a neckline breakout this month. The left shoulder formed after the XLF made a low in October in the $25 area, and… Read More »
In January this year, the price of West Texas Intermediate Crude and the oil services sector stocks, as represented by the VanEck Vector Oil Services ETF (OIH), both jumped higher. In February their upside trajectories flattened out. Then in March crude prices began to rise again but the services sector lagged behind. This month the… Read More »
Facebook (FB) shares closed today above the 50% Fibonacci retracement level of the 2018 high and low range. That is a significant technical level but the price action was equally as important. The stock opened near its low of the day and closed near the high of the day – also the high for the… Read More »
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 »