The interday charts look bad but the daily chart remains in position to move higher. Price needs to take out the recent highs with another continuation day and then blast higher before we become totally overbought. I don’t usually worry about moving averages but they do serve as resistance to price. Continue reading
Another Low Volume Down Day for SPX
August 4th, 2008 No Comments
Tags: Pullback · Standard and Poor's 500 (S&P500) · Volume
SPX Gann Fan with One Point Per Day
August 1st, 2008 No Comments
The one point per angle angle and it’s multiples have been significant since last fall. Price needs to get through this angle and remain above on a pullback before it can move to the higher angles. Continue reading
Tags: Gann Angle Fan · Pullback · Standard and Poor's 500 (S&P500)
Market Extends Rally After A-B-C Correction
July 29th, 2008 No Comments
The indices took off on cue after the three day a-b-c short term pullback. Tomorrow is day 11 of the rally and I want to see price over the high from last week at the end of this week. Continue reading
Tags: A-B-C Correction · Narrow Range · Nasdaq Charts · Pullback
BIDU in Strong Position
July 29th, 2008 No Comments
The stock of Baidu.com (BIDU) is in a strong position after testing the 50% retrace level early in the correction. Volume has been declining during the recent pullback along the 1:1 descending Gann angle. Continue reading
Tags: BIDU · Gann Angle Fan · Pullback · Square of Range · Volume
Three Day Low Volume Pullback
July 28th, 2008 No Comments
Lower volume pullback for three days should lead the major indices to move higher tomorrow. Continue reading
Tags: A-B-C Correction · Nasdaq Charts · Pullback · Standard and Poor's 500 (S&P500) · Volume
Low volume small pullback
April 2nd, 2008 No Comments
Market looking healthy and is setup for another surge. Maybe tomorrow… may the next day… Continue reading