I drew a chart over the holiday weekend,in my last post on tradingview.com
revealing what I viewed as a" Dome Top Reversal "in the making in the S+P 500,
and also suggested that there was a fool factor of 9, built into the chart.
I have left the chart alone, simply reproduced it as I drew it yesterday
so you can see what happened today in the S+P ...
Pattern suggests price trapped inside a Dome Structure.
Intent of pattern is to keep all participants inside the price structure.
giving neither side immediate gratification, but simply extending the pattern roll.
Too often overlooked, this pattern will highlight a feeling of uncertainty,
as neither side will feel comfortable, feeling they are about to be ...
Momentum,the fuel needed to propel the stock market higher,
over a sustained long term time period peaked,.. almost a years ago
As shown by the Point and Figure Rate of Change ( ROC) Yearly Chart
(Included here for illustration), momentum in the market peaked
in January 2018, at the 2820 area in the S+P ...
Today the McClellan Summation Index,
an Intermediate measure of Breadth/Volume on the NYSE
gave a BUY Signal, going Positive, for the first time since
Oct.5,2018 with a reading of 77.26.
Technically that confirms a strong Breadth/Volume BUY Signal on the stock market
as measured from the 2940 All Time High, on Sept.21,2018 to the Dec.26,2018 Low of 2346
This is ...
S+P 500 Broke out to New Highs on the week today,
above 2625.76, the prior weekly high in a BULLISH Breakout
after holding key support at the 2600 level.
One more upside day, will give a BUY SIGNAL,
on the McClellan Summation Index,a key breadth indicator
reversing a nearly 2 month decline, since November 2018.
That is a very important trend following indicator ...
Netflix reports earnings after the bell today.
A key stock in the Fang technology triad,
the stock has risen over 30 % since the Dec.2018 low.
When a stock rises by that much, in a counter-trend rally,
back towards it's all time high above 400,
expectations are seemingly thru the roof for this company
which burns cash faster than most companies could accept in ...
While many trader's importantly look to Fib retracement moves
as reason to justify price buying or selling points,
the CBOE VIX Volatility Index provides at times,..an even stronger realm for consideration.
After falling nearly 50 %,from it's late 2018 high,incredibly...
the VIX is in the beginning process of making a circular bottom,
that if it were to come to ...
I have been warning about a "Terminal Breakout"
move above 2600 in the S+P 500.
With 40 years of trading experience,
I have learned to spot important reversal tops in the market
This afternoon, the S+P 500 made a split second breakout move above 2625,
that appeared to have caused big money shorts to capitulate, and cry uncle.
And then it was over.
Just like ...
Imagine if the told you that just prior to armageddon
they were going to open up the back of the believer's church
so that all the late comers, who thought they had missed the party
would have a chance to enter, to gain some of the dreaded spoils, before they vanished for good.
It was not too late,for the believers to come in for the last piece of the pie.
1 Hour Chart on the S+P 500 shows a clear rising wedge technical formation
in place on the chart with the potential for a upside breakout above 2600 a possibility.
There are some who now believe the bear market is over.
My own thoughts is that the bull trap is waiting to be sprung.
An upside breakout above 2600 would give much needed
confidence and confirmation ...
In my last article,
I suggested S+P 500 would break down from 2600 resistance
based on the circular dome pattern that I drew previously in red.
If you were paying attention,that is exactly what happened today.
Interestingly enough, do note
the same type pattern has showed it's hand in today's trading,. as well.
Reference the drawn line in red on today's 15 ...
S+P 500 has created a Circular Rising Wedge at 2600,
with last week's consistent upside move taking price
right up to the apex of the dome.
Market's have long memories of important significant resistance.
2600 is a very important area for the bears to defend this week.
Successive attempts to breakout above 2600 last week,have shown it to be a significant ...
Apple's earnings warning on Jan.2, 2019 has not been fully discounted by the market,
and as a result the stock seems susceptible to new large price rollover when the actual earnings
are announced in two weeks on Jan.29
The warning listed 4 key material adversarial items,that could impact results,
none of which shows any signs of abating. in the new year.
Something very bullish is going on with YRC Worldwide Inc. ( YRCW )
It's stock was up 21% to $5.25 on January 11,2019, the largest % gainer on the Nasdaq Exchange
YRC Worldwide Inc is the US holding company for freight shipping companies
YRC Freight,New Penn,Holland, and Reddaway, a comprehensive network of trucking companies
offering industrial, commercial,and ...
Have you ever seen a US savings bond ?
The neatest thing about them is that they show the future value,
of your purchase dollars immediately.
Pay $50,00 and receive a 10 Year Bond worth $100.00
Talk about instant gratification.
As money was leaving the stock market in late 2018,
it began to flow into the safety of long term US Backed 10/20 Year Bonds,
the effect ...
The stock of Netflix perhaps best illustrates the
sharp rise in the stock market in 2019.
As I have predicted in my recent articles on tradingview.com
the market's change of character from very bearish to very bullish,
seemingly turning on a dime, would be timed around the beginning of 2019
Few would have believed such an unthinkable event possible, only days ...
S+P 500 continues it's first full week of 2019 strong advance
a move that started in the last week of Dec 2018,
This weeks rally has carried price much further than expected,
and there-in lies the crux.
Bears are now trapped, a point I made previously, as price continues to go against them,
creating a new market character of shorts now needing to ...
Bears/ Shorts are "Trapped "
on the S+P 500 break out above 2532, the Feb.2018 low. this week.
Price is NOT allowing for any meaningful retracement to take hold,
so any attempts to meaningfully short this weeks rally,
are being met with loss, and additional bear traps being set in it;s advance.
Then the rally continues....
The December 2018 Low in the S+P at ...