Russell Reversion

Russell Reversion

Small doji stars or candles with narrow opening and closing ranges formed on the DJIA, S&P 500 and NASDAQ composite charts and we know these reflect indecision and sometimes form near reversal points. The more troubling technical development, however, is…

S&P 500 at Key Fibonacci Point in Time

S&P 500 at Key Fibonacci Point in Time

It has been about 610 trading days since the 2009 generational low, a key Fibonacci time zone. This does not automatically suggest a reversal, it is just presented as another piece of information for your technical consideration.

S&P 500 Channel Consolidation

S&P 500 Channel Consolidation

The S&P 500 index remains in a channel consolidation. The range compression can be seen on the Bollinger Bandwidth indicator at the bottom of the chart. Volume is about average but positive money flow has dropped off, and the MacD…

Mad Money “Chart Week” – Facebook

I was very pleased to be invited by Jim Cramer to be on Mad Money to kick-off “Chart Week” last Monday. It was a great experience. We talked about the Facebook (FB) chart and how it was in a primary…

Morningstar Bullish Reversals on the Index Charts

Morningstar Bullish Reversals on the Index Charts

What’s happened with the markets since I decided to take some time off for my first vacation in about five years? The answer is price-wise not much, but price action-wise, quite a bit. The major indices are back to levels…

Hammers or Hanging Men?

Hammers or Hanging Men?

Those long tailed candles that formed in yesterday’s volatile session do not look like the kind of hammer candles that result in consolidation and stable bases. They look like bearish “hanging man” candles, those with long lower shadows or tails…

The Agricultural Commodity Sector is Scheduled for a Bounce

The Agricultural Commodity Sector is Scheduled for a Bounce

The PowerShares Multi-Sector Commodity Trust Agricultural Fund (DBA) has been in steady decline since 2011, interspersed with sharp temporary bounces, as seen in 2012 and 2014. The technicals are currently signaling the potential for another such oscillation, with the MacD…

The Bulls are Losing the Battle?

The Bulls are Losing the Battle?

That’s what it looked like a few hours ago, before the incredible reversal today. It remains to be seen if they win the war, but more on the subject tomorrow morning.

The Bulls are Losing the Battle

The Bulls are Losing the Battle

It looked like a perfect time and place for a reversal move. A sharp sell-off in the S&P 500 index was halted at the 200 day moving average and a bullish morningstar scenario began to unfold. Then the Greece issue…

The Perfect Time and Place for a Bullish Reversal

The Perfect Time and Place for a Bullish Reversal

The S&P 500 Index is near a key Fibonacci time period in the time zone sequence measured off the 2009 low, and is testing its 200 day moving average. Monday’s large dark candle which was followed by Tuesday’s narrow opening…