The S P 500 is creating what appears to be a rising wedge consolidation pattern. The technical analysis pattern referred to as a ‘rising wedge’ is not necessarily a major topping pattern. It is usually more of a consolidation type pattern or pause before moving higher. S P 500 index rally getting tired? As you … Read more
USTT stock breaks out and starts consolidation This is the ‘After’ part of my ‘Before and After’ feature on USTT. As it turns out USTT did move out of the ascending triangle pattern and it also did so with sufficient volume to make it a valid breakout. USTT moves 37% from ‘Steam Kettle Pattern’ Everything … Read more
Natural Gas to follow crude oil? I have been studying the natural gas future price chart because of my previous mention of a natural gas stock with symbol NGAS. The stock was mentioned here and here. The price of natural gas has been slowly trickling upwards although it has not done a retest of its … Read more
Brief Crude Oil Update The Crude Oil story is really starting to get a lot of attention from the media, and all of this is occurring at the same time crude oil is right at the 55 retest level combined with a very overbought RSI level near 80. That combination of factors usually means some … Read more
Ok, as promised here are a couple more oil and gas stocks I am highlighting because of the currently strong momentum in this sector. Strong momentum because of the rising, or should I say rapidly accelerating price of oil. The natural gas stock NGAS mentioned in a previous post still has potential, but admittedly it … Read more
Does Technical Analysis work on the OTCBB? There has been debate about whether or not Technical analysis works or not on tiny microcap stocks such as those on the OTC BB. I am of the opinion that it does work, however I am also of the opinion that this tiny marketplace is not one to … Read more
Crude Oil The energy sector and crude oil is going beserk. There is just no other way to say it and it runs along the theme which I continue to talk about which is commodities and energy. As of this posting, we can see that crude oil is in the process of doing a retest … Read more
It is a shame I did not put this post up earlier. It was in my charting program and is one I have been watching for many months. I did not post it up here earlier for various reasons but it is still good to point it out anyway even though it has already had … Read more
Forex Trading: The Australian dollar has been a powerhouse. And no wonder, they are very resource rich country. It appears that currently the AUD/USD is doing a retest of .7900 level . Near term chart looks quite attractive to me. Up sloping arc trendline showing demand and possible cup and handle? For now must still … Read more
Here is another copper stock although it is much less attractive situation than was mentioned in my previous post. This one is tiny, not very liquid which is a huge disadvantage and at the moment does not show a very attractive risk / reward in my opinion. But the reason I am showing it is … Read more