I recently did a whole bunch of bullish sounding postings. But now the market is in the zone where it must show proof of its bullishness. Right now and today we are trading at the 61.8% retracement of the May 2012 decline. This is a key level and the next 6 trading days will be … Read more
Here is a quick recap on some of the reasons why I see USA stock indices trading much higher, probably up to new 52 week highs. Some of the reasons are more heavily weighted than others, but they are all important. Everyone hates the Euro and even the mainstream media has caught onto the ‘end … Read more
Below is the updated S&P 500 Yearly price candlestick chart. This is a very important chart to me because it shows that the yearly 2012 price candlestick bar is trying to break out north from the 2007 blue dotted down trend line. This is a yearly chart so it clearly moves in extreme slow motion. … Read more
Today was an amazing day in the sp500. The index chose to reject the potential bearish engulfing candlestick that we saw yesterday. It looks as though this potential bearish engulfing was a fluke and a possible bear trap. But the sp500 is not out of the woods yet. Key level for sp500 to break upwards … Read more
The action today in the indices was not exactly bullish looking on a short term basis. This looked like bearish engulfing today on most indices. However volume was quite light, but typical for a Monday this time of year. The short term bearish engulfing action today ended up closing right near a short term uptrend … Read more
I am recommending that SYNC be put on the top of trader’s watch lists as a focus stock that could benefit from strong earnings momentum and rapid growth the second half of 2012. SYNC is not my idea but I know of it from another newsletter writer who happens to be very enthusiastic about its … Read more
The last several days in the tape action of USA stock markets have been nothing short of extraordinary. The USA Stock market has used a medium time frame bullish divergence in price versus RSI and MACD histogram to generate a persistent rally higher. This rally is likely to remain persistent in the weeks ahead from … Read more
If the USO ETF can manage to close much higher today above 31.67 then I think it would help to confirm the chance that the USO has made a bottom here. But this is a tough call in this zone. The USO has completed an important Fibonacci pattern but 31.67 is really the last level … Read more
Today’s action in the stock market was absolutely huge. Today’s action was a clear demonstration of the power of the bullish divergence. This was a shorter term bullish divergence of the most powerful variety and led to enormous price advance and typically leads to sustainable ‘running’ price advance. In other words, this should mean that … Read more
The ERX Triple Energy ETF looks like it is almost done completing an important bullish butterfly pattern. If the pattern is valid then we should see price showing final bottom action right now between the 30.06 and 34.42 range. Price on June 5th, 2012 has shown a small bullish engulfing of a previous bullish hammer … Read more