Monday, June 28, 2010


TLT closed on $100 today (highest close since April 2009).A chart of TLT vs. SPY (bottom chart).The last time this correlation crossed was July 15, 2009 (crazy if it crosses the other way a year to the day). A few days after this cross we got higher highs on the S&P

The SPY closed right on its Lower Median LineWednesday is the last day of the month, how will that effect the markets until then?

Sunday, March 21, 2010

candle patterns

Ran across some text book candle patterns, take a look:
A Bullish Piercing Line pattern in TSL:
OK, this isn't exactly a Bearish Meeting Lines pattern in BA, but comes within a few cents:
Nice example of Support-turned-Resistance looking at the weekly chart:A Bearish Hanging Man in GS:Not very glamorous, but a Bearish Engulfing pattern on the XLI:Bearish Dark Cloud Cover IYT:

Saturday, February 06, 2010

measured moves down

Here's a look at the indexes (in ETF form) over the past 14-days on a 60-minute time frame. All displaying great examples of Fibonacci Retracement levels and Extensions.
The SPY, a very nice example of a corrective A-B-C wave pattern (though A-B-C on the chart weren't meant as Elliot Wave labels). Direct overhead resistance with the 38.2% retracement (measured off of the 2/3 swing high to 2/5 swing low) which is also the previous support from 1/29 (Support-turned-Resistance?).Q's showing the 1-2-3 momentum push. Very upward to sideways-sloping consolidation cycles, compared to the others, I wonder what that says about the participants trading it? (btw, the labels 1-2-3-4-5 are not meant to be Elliot Wave counts). Confluence of Resistance at the $43.30 area where 61.8% and -27.2% meet up.DIA, yet to really "bounce"!? First move would bring it at least to a 38.2% retracement measured off of the 2/3 swing high to 2/5 swing low.and IWM, looks like just a dumping of shares (ditto DIA) these past 3 days. Watching to see how well it handles overhead resistance at 38.2%, and previous support (turned resistance?) at the 50% retracement