Take a look at the Snap weekly chart. A clearly defined bull flag has formed that suggests significantly higher prices. In July there was a spike up in price, followed by two months of sideways consolidation. The “spike” is the flagpole of the pattern and the range-bound movement between ~$80 and ~70 is the flag.… Read More »
Bitcoin has been making a steady series of higher highs and higher lows since it established its March low. In the process, it has also completed the right side of an inverse head and shoulders pattern. This pattern projects a considerably higher price target. But there is another interesting technical dynamic on the weekly chart… Read More »
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 »
Yesterday we took a look at the Hasbro (HAS) weekly chart. The weekly charts put the daily timeframe in perspective and often suggest entry and stop loss levels. I have done my own anecdotal studies of weekly charts over the many years I have been trading. I found that I have a higher degree of… Read More »
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 »
Funny fundamentals often translate to tricky technicals.
(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 »
The market got a scare in the last two hours of trading on Monday. There was a sharp drop in equity prices on news that some businesses in California were being closed again and of renewed US/China tensions in the East China sea. The broader market dropped sharply and the Volatility Index jumped closing the… Read More »
Interest rates have been moving lower and for a long time. If you were on a fixed income like a pension during this period you’re a happy person. The low interest rate environment produced little or no inflation. This preserved the buying power of your income over time. If, on the other hand, you bought… Read More »
The NASDAQ Composite Index made an all time record high last week. At the same time the S&P 500 Index is about 10% off its February 2020 high and the and the Dow Jones Industrial Average is about 15% off its high this year. But take a look at the Relative Strength Index on the… Read More »