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 »

Chairman Powell Hammers The “Hammer” Bottom Scenario

By | December 20, 2018

On 12/11, Jim Cramer featured RightView Trading’s take on the technical condition of the major market indices on the “Off the Charts” segment of Mad Money. It is always a pleasure to be a part of the show and we thank Jim for that opportunity. At the time, we noted that the major market index… Read More »

Short High Yield Corporate Debt With This ETF

By | December 18, 2018

Total corporate debt is estimated to be around nine trillion dollars. There is increasing concern over how companies will manage this load as credit spreads widen. At some point in time, rising interest rates will slow economic activity and the credit cycle will turn. Corporate profits will decline and some companies will see their investment… Read More »