CLICK ON CHART TO ENLARGE A breakdown in Basic materials often does not suggest economic strength is around the corner. Forgetting the macro picture for a minute, the breakdown in IYM increases the odds SMN might do rather well for those open to scoring on defense! Why? See below… CLICK ON CHART TO ENLARGE [...]
CLICK ON CHART TO ENLARGE The patterns in the Russell 2000 have been favorable for a good while. We have owned a position in IWM, looking for relative strength in the Small caps. Due to the “Power of the Pattern” we harvested the position in the Russell 2000 due to key resistance being at hand. [...]
CLICK ON CHART TO ENLARGE Game Plan…NDX 100 has declined enough to find some key support. Protect the gains in PSQ by adding a tight stop. If this support in the NDX 100 breaks, odds favor much lower prices. I mentioned how downside momentum would pick up on a support break. Today is a reflection [...]
On 2/24 I mentioned that rear view mirror investing was rather easy, seeing around the corner/what lies ahead, is a little tougher. Yet if we can find tools to help us with the direction of future price movements, it can be very beneficial to our portfolios. I discovered over 15-years ago that the “Power of the [...]
CLICK ON CHART TO ENLARGE Commodity Research Bureau Index (CRB) of late hit its 61% fibonacci retracement level at (1) and at the same time FCX was creating a bearish rising wedge at resistance point (3). Major Trend Change at hand? Too early to tell, yet from a pattern perspective it was a great place to enter [...]
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