Downside wicks usually take place at market lows or at support. The chart below, highlighting several downside wicks and a bullish falling “PATTERN” was the reasons to go long the 5oo index on 9/1 (see post here). Click on Chart to Enlarge The S&P 500 had its best September in 70-years bouncing off this support, [...]
I have received numerous emails recently, asking questions along this line….We have done very well of late, what could change the recent upward price action/trend? (Good, Bad & the Ugly soundtrack) A good friend often reminds me a “blizzard starts with a single snowflake that fits on the end of your finger!” Right now positive snowflakes [...]
In the charts below, Emerging markets and the EAFE index are solidly above resistance. Now by small margins the CAC-40, DAX and the FTSE-100 are pushing above key resistance. In the post titled “Global All the same Trend” (See post here) I highlighted how the majority of the world markets were all facing resistance, at [...]
On June 14th I produced the chart below (see this post). The Patterns suggested to….SHORT THE DOLLAR (due to a rising wedge and 90% Bulls) and LONG THE EURO (due to falling wedge and only 5% Bulls). The chart below and post reflected that extremes/turning points were at hand. If my read on the patterns was correct, [...]
Last week I did a post titled “All the same trend” (see post) which reflected how the major indexes around the world are all acting the same. The charts below focuses on major international markets. Went long EEM in the “Early Bird” posting (see post) due to an upside breakout. An upside breakout in these International [...]
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