About meTechnical charting since 1983, passed the S7 Exam in 1986. As a Quality Engineer I applied statistical process control to manufacturing, and then I adapted this approach to monitoring financial markets. At age 68 I still chart simply because I enjoy it.
This is a follow-up for the sell-off in-LRCX. The first chart was published on July 3rd.
The July 3rd forecast, based on 8 indicators, was down. There were other reasons I thought the stock would decline. There was a bearish “shark” pattern. This is the “W” formation I highlighted on the chart above.
A “W” formation could be a bearish shark, Gartley,...
Basic Trading Techniques Explained (For This Example I Charted-LAM RESEARCH)
I believe LRCX-is a failing stock. If you consider shorting-LRCX, be careful. It is at a key support level. I have prepared this tutorial for you for two reasons: to keep you from losing money in a bad position, and to allow you to set up a chart of your own.
1. Establish the direction...
Basic Trading Techniques Explained (For This Example I Charted Applied-Materials)
I believe AMAT-is a failing stock. I have prepared this tutorial for you for two reasons: to keep you from losing money in a bad position, and to allow you to set up a chart of your own. Then, when you see a "hot tip" on TV, you can determine if the financial asset is worth YOUR...
Does the double top in the-XLF warn us of an economic slow-down?
The US Industrial stocks are slowing, as well as the emerging markets and US large banks.
History teaches us to pay attention to longer trends, and the-XLF clearly has not been able to put in new highs.
Most of the indicators for the XLF-are slowing.
I think that this is forecasting an economic...
The semiconductors have had a great run in the past year, but I recommend we use caution.
For example, AMAT-is really having a hard time advancing through its year 2000 bubble .com highs.
Does this warn us of trouble for the chip stocks? I believe the answer is yes.
Some of the new technologies may make stocks like NVDA-or-CY-keep going for a while, but....
As I wrote about in the previous chart for-AAPL, pay attention to the "W" pattern,
As well as the bearish AB=CD pattern (above).
Above, the indicators turned negative for-IBM after point D of the AB=CD, and-IBM sold off.
Then, IBM-halted at a double top, and sold off again.
Take the time to look at how many DOW-30-stocks have negative formations.
This will give...
I was asked if AAPL-will become the next-Blackberry....My answer was no. Yet....
The drop in-AAPL was indeed forecast in the charts. Here is what I saw:
1. A bearish butterfly was completed.
2. At the same time - All of the indicators on the top of my chart went bearish.
3. The lower indicators, chop and chop zone, also went negative (red).
I was asked where I think that gold-will be in two years.
My answer in printed on the chart above.
If gold-can stay above $1390 on a weekly chart, then a new up-trend is possible.
I would much rather wait until this happens than buy-gold today.
Until then, I see a sideways trading range, with downside risk if the Fed keeps raising interest rates.
May all of your...
The GDX-is a basket of gold-miners stocks.
I looked at some of these on an individual basis....
Most did not indicate any gold-rally just yet.
If the GDX-improves, I would play the gold-rally via the gold-miners because they rise faster than the metal.
I hope these five charts give you some perspective of different aspects of the gold--metals--gold miners...
Silver-is an industrial metal, so it will do well in a good economy.
Silver-is also similar to gold-for world tension in geo-political events.
If gold-is to surge, silver-usually will also.
Yet the chart for silver- does not indicate an imminent rally,
When gold-is ready to surge higher, others in the metals complex generally follow.
This is the first of five metals charts.
The next four charts after this one are:
None of these four indicate a pending surge in-gold,
May all of your trades go well. Don.
The rally back from the February lows is not impressive.
The "M" harmonic pattern (butterfly) resulted in a 50% retracement to a falling 233 interval trend-line.
Because the S&P-500 failed at the 50% retracement, it is my opinion that the February lows will not hold.....
This 50% retracement failure (at 2677) strongly predicts lower prices.
The next area on the...
I was asked earlier today if I thought the S&P-500 would rise or fall. I told this person I would publish a chart for him.
I also told him I thought the recent rebound upwards would not go further than 2735 to 2740.
The rally back from the February lows is an almost perfect 50%.
As the S&P-500 rose the lower top graph was falling. This divergence strongly...
AABA-Altaba-is the stock I sometimes trade as a proxy for-Alibaba.
Above you will notice a harmonic pattern that closely resembles a bearish shark pattern. If I would insert the-S&P-500-Index (and not-AABA) the chart pattern would almost be the same. This strongly suggests a retest of the previous lows.
A traditional bearish pattern in-AABA would have an...
Note: the stock has risen very sharply since I published October 9th, 2017.
Back then, my original target was $170, which was obtained. If you are looking for a new target, my preliminary goal would be $200-$220.
From a technical standpoint, Here are the positives for-BABA:
1. Currently multiple buy Fractals.
2. The top upper indicator is a 34 day moving...