SPY Manipulation in the Final Two Hours of Trading?

SPY Manipulation in the Final Two Hours of Trading?

At 1:50 on Wednesday, the first of two high wick or long upper shadow candles formed on the ten minute SPDR S&P 500 (SPY) chart. It looked like a tradeable pullback was coming, similar to the one that followed the…

The September S&P 500 Chart on Multiple Timeframes

The September S&P 500 Chart on Multiple Timeframes

The S&P 500 index was down 0.12% for the month and a second small doji candle formed on the chart. A doji has a narrow opening and closing range and represents an indecisive struggle between buyers and sellers, and they…

Major Market Indices - Hammer Bottom or Hanging Man Top?

Major Market Indices – Hammer Bottom or Hanging Man Top?

The major market indices pulled back sharply in the first hours of trading today, but between 11:00 and 12:00 they began consolidating in a horizontal channel that can be seen on the ten minute chart. They powered back higher in…

The Dow Testing the 50 DMA

The Dow Testing the 50 DMA

It’s early in the session but the $DJIA is retesting this month’s lows, and its 50 day moving average – a MacD divergence and the declining money flow is not encouraging going into the close. Multiple timeframe re-cap coming up…

Tesla Shares Can Go Forward Really Fast and in Reverse Really Fast

Tesla Shares Can Go Forward Really Fast and in Reverse Really Fast

Tesla (TSLA) shares can accelerate forward really quickly and then go into reverse equally as fast, just take a look at the ten minute chart. When Elon Musk tweeted out at 11:23 today that there would be a product announcement…

It Took the Market About 90 Minutes to Figure It Out

It Took the Market About 90 Minutes to Figure It Out

This was the moment the market realized that the Federal Reserve statement was not really bullish.

SPY - Compression on the Intraday Charts Suggest a Volatile Move Ahead

SPY – Compression on the Intraday Charts Suggest a Volatile Move Ahead

The market traded in a narrow range all day continuing a pattern that began in the last half of Friday’s session. The thirty minute chart shows the contracting ribbon of Bollinger bands and the Bollinger bandwidth indicator at the bottom…

S&P Support Below the H&S Neckline

S&P Support Below the H&S Neckline

The S&P 500 head and shoulders pattern neckline has been broken but only an intraday basis and that is important to remember, because a rally into the close today that creates a hammer candle at this key technical level will…

Dammit, Carl!

Dammit, Carl!

The talk on CNBC is that the proximate cause of today’s intra-day reversal was the result of comments made by Carl Icahn this afternoon on their network. Let’s go to the charts…. Ok, no argument from me. Tomorrow may be…

Charting Yesterday's Midday Reversal

Charting Yesterday’s Midday Reversal

The market was higher early in Tuesday’s session building on Monday’s gains, but that momentum shifted dramatically around noon. The ten minute S&P 500 SPDR (SPY) chart shows the decline in price and an increase in volume that began midday….