Update: The S&P 500 Index Breaks Above Weekly Chart Resistance

By | March 19, 2019

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 »

Canopy Growth – Chart Suggests 40% Upside

By | March 12, 2019

Canopy Growth (CGC) shares shot up over 80% last August. The volatility continued over the next several months, forming a series of high wick candles. These candles reflected the stock’s inability to hold new highs. Ultimately it relented and shares pulled back below their 40 week moving average, to where the rally began. A similar… Read More »

Two Short Sale Candidates in the Weak Transport Sector

By | February 27, 2019

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 »

Watch The Small-Caps – An Eveningstar Pattern Is Signaling A Reversal

By | February 27, 2019

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 »

Market Revisits The November/December Highs: Supply And Demand Battle To Begin

By | February 19, 2019

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 »