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 »
The feeble but positive bounce on the daily charts of the major market stock indices on Thursday created individual doji candles on their weekly charts. A doji as we all know is a closing print at or near the opening price of a stock. Thursday’s session finished right about where the indices opened on Monday.… Read More »
In June last year, the SPDR Gold Shares ETF (GLD) broke above long term resistance situated in the $130 level. This level was also rim line resistance of a shorter term cup and handle pattern on the weekly chart. The cup and handle pattern projected an upside target price measured by taking the depth of… Read More »
Again, self-explanatory and presented without commentary: Be sure and check out earnings dates.
These charts are self-explanatory and presented without commentary: …to be continued after the open.
A very rare candle pattern has formed on the daily Amazon (AMZN) chart. It is called a bearish tri-star pattern and is considered a reversal sign. The bearish tri-star consists of three narrow opening and closing range doji star candles. The second in the series closes higher than the first and the third in the… Read More »
The first that comes to mind when you think of Bitcoin ($BTC) is volatility. The digital currency has certainly seen some dramatic price swings over the last several years. But take a look at the weekly chart of Bitcoin and you notice something unexpected. While even the smaller swings in price represent large dollar moves,… Read More »
It was a good week for the market and a good month. Surprising, because in early October a major uptrend line on the S&P 500 was being tested and the technical indications suggested a breakdown. A breakdown suggested a major move lower. Instead, the S&P rallied right through October and finished the month and the… Read More »