The SP500 index hit the 50/50 point and is in equilibrium – no advantage to either side. Dynamic Chart Market is back to the oversold level of the last selloff. It is options expiration week so weird things can happen in the short term. Charts courtesy of Stockcharts.com
Entries Tagged as 'Short Term Market'
SP500 High at Fifty Percent Time and Price Cycles
November 17th, 2009 2 Comments
Tags: Advance-Decline · Market Cycles
Swing Chart Update
October 16th, 2009 No Comments
The Nasdaq 100 (NDX) is nearing 45 days beyond 180 days past the March low. Price is nearing five complete 360 degree cycles on the Squareroot Progression chart.
Tags: Swing Charts
Time Frames of The SP500 Index
October 3rd, 2009 3 Comments
The recent top of the monthly chart is at the mid-range of the 2002-2007 bull market. I noted before that it was odd that the market topped without hitting any significant angles.
Tags: Gann Angle Fan
Energy Weak As XLE Shows High Volume Distribution
October 2nd, 2009 3 Comments
The Energy Select Sector SPDR (XLE) had a high volume down day to the 50 day moving average yesterday. One high volume drop can mean nothing. But note the number of high volume bars in the past two weeks. There is definitely distribution going on in this ETF.
Tags: Distribution Day · Energy-Oil-Gas (XLE)
Nasdaq At The End of September
October 1st, 2009 No Comments
It looks like the funds held prices and their large three month gain (about 25%) up into the close yesterday. Volume was well above average so it took a lot of firepower to hold those gains for the quarterly report.
Tags: Nasdaq Charts (IXIC)
US Dollar Downtrend Remains Intact
September 30th, 2009 2 Comments
I see a lot of talk about the “rally” in the US Dollar (USD) so I decided to check it out. The USD has been moving down since 2001 with lower highs and lower lows.
Tags: Swing Charts · US Dollar (USD)
Powershares QQQ Trust Up 13 Days without Lower Low
September 23rd, 2009 9 Comments
The Powershares QQQ Trust Index (QQQQ) has closed for the last 13 days without price closing below the previous day’s low. This is a sign of strength but also a sign the market is overbought.
Gold Strong And At March 2008 High
September 18th, 2009 5 Comments
The price of gold is back to the 2008 high and appears ready to make a run at a new high. The breakout after a 90 day consolidation looks good.
Tags: Gold
30 Year Bond Swing Chart Turns Down
September 3rd, 2009 5 Comments
The swing chart of the 30 year T-Bond yield has turned down recently. After a possible basing activity, price broke below the second swing low yesterday. The third swing low is around 4.05% yield.
Tags: Bonds
Nasdaq At Support Angles
August 28th, 2009 No Comments
The Nasdaq is at a make or break angle which would signal the end of this bull market phase near 180 days from the March low.
Tags: Nasdaq Charts (IXIC)
Smallcaps Continue Relative Strength
August 18th, 2009 No Comments
Price dropped yesterday but volume was well below average. The SP600 Small Cap Index has bounced back above the 1×1 ascending angle of the 2002-2007 bull market range. Most other indices are not as strong.
Tags: Russell 2000 Smallcaps
US Dollar At Potential Support
August 6th, 2009 4 Comments
The US Dollar is at potential support in a number to time frames.
Tags: US Dollar (USD)
Overbought Back to Support
August 5th, 2009 No Comments
The market had some distribution today just in time for a pullback to the recent breakout levels.
Tags: Distribution Day · Nasdaq Charts (IXIC) · New York Stock Exchange (NYSE)
Russell 2000 Index with Strong Move Since March
August 4th, 2009 No Comments
The Russell 2000 (RUT) index fell about 60% from the July 2007 high. The March bounce has moved up about 65% and is above the 1×1 ascending angle.
Tags: Russell 2000 Smallcaps
Gann Fan Forward Projection
August 3rd, 2009 No Comments
Another way to use a Gann Fan is to pick an assumed mid-point of the current run and project into the future to guess an end point of the move. Here I used the 90 day point as the mid-point in price and time.
Tags: Gann Angle Fan · Nasdaq Charts (IXIC)
SP500 Equal Weight Index Charts
July 17th, 2009 No Comments
The SP500 Equal Weighted Index tracks the SP500 using equal weight for all companies in the index which decreases the chance that a few of the largest companies can skew the index.
Tags: Gann Square · Swing Charts
Gold Charts Remain Strong
July 16th, 2009 No Comments
The price of gold is holding up extremely well following the 1999-2008 bull market. Price remains above the 1×1 angle but time has not reached 25% of the bull market time cycle.
Tags: Gold
Swing Charts and VLE Square of 90
July 15th, 2009 No Comments
The daily two bar swing chart of the Nasdaq 100 (NDX) shows price has swung back upwards after hitting the 25% retrace of the range from the March low to the high 90 days later. I see a 30 day A-B-C corrective pattern with the current swing moving back up through that pattern.
Tags: Gann Square · Swing Charts
SP500 Index Square of 90 and Square of 144
July 13th, 2009 2 Comments
The square of 90 and square of 144 provide some interesting geometries to ponder.
Tags: Gann Square
Bonds Break Yield Support Angles
July 9th, 2009 No Comments
Bonds made a big run in price yesterday and the angles I was watching were broken. The 50% price/yield level is a significant level at this point.
Tags: Bonds