Vacation Time

Vacation Time

I picked the wrong week to go on vacation (or maybe the perfect week). You probably don’t need a rehash of all the gory details from me, if you have been following the tests and retests of the key technical…

TBT Golden Cross

TBT Golden Cross

The ProShares UltraShort 20+ Year Treasury (TBT) fund has continued higher since breaking above the rim line of a cup and handle pattern that formed this year, and now the 50 day moving average crossed above the 200 day average.

Index Trend Line Support and Resistance

Index Trend Line Support and Resistance

Transports Teeter

Transports Teeter

The Dow Jones Transportation Average ($TRAN) is attempting to make a quadruple bottom. In May a similar attempt failed which broke a six month support line and took the average down to current levels.

Potentially Dangerous Technical Divergence

Potentially Dangerous Technical Divergence

There is a bearish divergence between the stock price of the 3M Company (MMM) and the S&P 500 Index, and while this may not seem important there is an interesting technical connection that suggests otherwise. The graph between the S&P…

Indices Hold Key Levels

Indices Hold Key Levels

When a stock or an index closes on its low even a less than three quarter percent decline can look ominous on the chart. It was a bad day across the board but the resistance levels that were broken last…

Transports Get Hit Harder

Transports Get Hit Harder

The Dow Jones Transportation Average ($TRAN) looked like it had made a triple bottom after bouncing off recent lows and heading back up to retest April resistance. Unfortunately, the average is getting hit harder today than the broader market indexes,…

Lackluster Performance for the Indices; SPY Volume Still an Issue

Lackluster Performance for the Indices; SPY Volume Still an Issue

Small gains and hardly decisive action of the index charts, but the more time the DJIA and the S&P 500 index stay above their 50 day moving averages, the more time for better things to develop. The same goes for…

Index Checkup and SPY Issues

Index Checkup and SPY Issues

The major indices reversed their Friday losses in Monday‚Äôs session, with the NASDAQ Composite and the Russell 2000 Index, closing at all-time levels. High wick or moderately high wick candles formed on the DOW and S&P charts, which make some…

Germany iShares Jump

Germany iShares Jump

If the Germany iShares (EWG) fund, my proxy for Greece, opens at its current pre-market level it will jump about 2.5% and immediately retest its 50 day moving average.