Roku – A Bullish Inverse Head And Shoulders Pattern Forms On The Chart – It Suggests A Potentially Powerful Upside Move

By | January 26, 2019

Roku (ROKU), the streaming TV services company, saw its share price drop 65% from its October high last year to its December low. But it looks like the stock has formed a base and could be ready to reverse trend. Shares of Roku consolidated in a small horizontal channel last November and again in January… Read More »

The Bottom Could Be In For NVIDIA – $200 Is The Potential Upside Target

By | January 25, 2019

NVIDIA (NVDA) shares have been trading sidewys for the last two months, and that’s a good thing. The stock was able to put a halt to the brutal >50% decline off its October high. Since mid-November it has been vascillating around the 50% retracement level of its histroric range. This week it has held that… Read More »

Be Alert To This Pattern On The S&P 500 Chart: It Formed At The December High And Every High Since October

By | January 17, 2019

In December we highlighted an interesting pattern of eveningstar reversal formations on the S&P 500 daily chart. We noted that, in both October and November eveningstar patterns had formed on the chart. They had marked important lower highs An eveningstar is a bearish three-day reversal formation, often seen at market tops. It consists of a… Read More »

These Indicators Suggest There Is Volatility Ahead

By | January 14, 2019

We have been watching the wide levels on the weekly index charts, levels which had been support early in the year. They reverted to resistance following the December drop. Last week the NASDAQ Composite closed above its resistance area, while the other major market indices were just below or testing those levels. The rebound in… Read More »

Market Outlook: What Was Once Solid Support Is Now Formidable Resistance

By | January 7, 2019

In December the major market indices dropped sharply and broke below areas of former support on their weekly charts. These zones had provided strong support in February and April last year, and later in November. As we know when a support level fails and price breaks down, the support level reverses roles and becomes resistance.… Read More »

The Financial SPDR Fund (XLF) – Levels Of Fibonacci Fan Support And Resistance

By | January 4, 2019

The financials are one of the most beaten down sectors of the market. The Financial Select Sector SPDR Fund (XLF) is down 21% from its 2018 high and was down over 25% at its low last week. Last week’s low touched the 50% Fibonacci retracement level of the fund’s 2015 low and its 2018 high.… Read More »

The S&P 500 Pares Half The Year’s Losses In The Last Four Trading Days – Happy New Year Algos!

By | January 1, 2019

The S&P 500 index was down nearly 13% for the year on December 24. We were officially in “bear market” territory with a 20% peak to trough decline in 2018. But the sharp low-volume rally over the last four trading days of the year recovered half the 2018 loss and lifted us out of bear… Read More »

Let The Amazon Chart Be Your Market Guide Over The Short Term

By | December 27, 2018

Wednesday’s broad based rally formed “morningstar” patterns on a large number of daily charts. The morningstar is a three-day formation that consists of a large down-day candle, followed by a narrow opening and closing range “doji” candle, and completed by a large up-day candle. It is considered a reversal pattern and represents a transition in… Read More »