Rare Element Resources Ltd Reversal Signal Failed

I previously talked about a very strong reversal signal that seemed to be occurring in REE.  I pointed out that a very nasty looking bearish engulfing candlestick formation seemed to have formed and ought to indicate a downside reversal. The reversal never happened and I have to admit I am quite surprised.  The bearish engulfing … Read more

Monthly Sp500 Chart Showing New Bull Trend in the Making

I am about half way through reading the book Reminiscences of a Stock Operator by Edwin Lefver which details in story form the trading skill and observations of Jesse Livermore.  It is a truly fascinating read.  What impresses me the most so far in this book is Livermore’s ability to trade with high confidence at … Read more

Market Reaction from March 2009 Trendline Shows Positive Trend

The market reaction off of the up trend line in force since March 2009 has so far been touched 3 separate times.  The more times a trend line is touched the more it tends to validate that trend line.  Key also is the observation how the market reacts off of an uptrend line.  The way … Read more

SPDR Gold Trust ETF Seasonals Versus Chart Structure

The gold price and the  SPDR Gold Trust (ETF) continues to be situated in a  potentially pivotal position from both an intermediate term and long term basis. The question is whether bullish seasonal tendencies should be given more weight or the gold chart structure itself?  The 34 year seasonal tendency especially from mid September onwards … Read more

No Breakout Today

Today was very uninspiring for the bull case on many indices and in many different aspects.  Volume was lacking today in a big way.  Price conviction was lacking also.  There were also plenty of reversal hammers created which would be confirmed on a close below today’s price low. The Dow Jones Transports Average is showing … Read more

Today Might be the Break Out Day

Today may be the day that the bear market officially dies (in terms of technical analysis) as far as the SPY ETF is concerned.  Pre market right now the SPY is already up over 1% which puts it above the top boundary line of the large symmetrical triangle I wrote about yesterday. If the market … Read more

SPY ETF shows the Market is Still Coiling up in Symmetrical Triangle

The SPY ETF is still trading in a large trading range and is taking the shape of a symmetrical triangle.  Volume was still very light today and no real conviction in either direction. I still suspect that we are going to trade down once again to the apex of the triangle before making any firm … Read more