Chartology

Selling Into Strength: The EUR/CAD Short Setup

Based on recent wave structure, the EUR/CAD has likely completed 5-waves to the downside and should be set for a corrective rally back towards 1.4565 at which point I will be on the lookout to establish a short position. However, traders will want to make sure that EUR/USD does not gather too much upside strength, as that may offset any CAD strength relative to EUR/USD.  For instance, a push above 1.3540

Breakdown: Why EUR/USD Volatility Is Ready to Resume

Single-day paroxysms brought about by geopolitical unrest and local black swan events aside, stocks continue to calmly shuffle through a dream-like state of imploded volatility as the “bubble in certainty” persists.  While many active investors are focused primary on equities, however, it’s important to recall this condition of zombie volatility is global in scope, sweeping in nearly every asset class across most developed and emerging markets. One of the most

Biotech Sell Off: Bearish Harmonic Bat, H&S Top Patterns Point Lower

The closely-followed iShares Biotechnology ETF (IBB) continues to show technical deterioration following it’s mini-blowoff in late June/early July to complete a 4-month Bearish Bat harmonic pattern near $266. Over the last 4 weeks, IBB – amidst a broader environment justifiably referred to as “manic” or “bubbly” – has built out a Head & Shoulders Top pattern from which it has broken down during Wednesday’s session in trade below its neckline

S&P 500 Technical Update: Will Opex Bring New Highs?

Another mini-pullback, another buy the dip rally? Monday’s price action felt a lot like more of the same. Although we won’t know until we get confirmation, the setup is in place.  Since the April lows, the S&P 500 has formed a nice channel that has seen 3 pullbacks (including the current one). The first mini-pullback was followed by a 93 point rally, while the second lead to a 60 point rally. But we

S&P 500 Update: BTD Stock Pullbacks In Focus

Since the February lows, stocks have seen several shallow pullbacks. Most pullbacks have lasted 2 to 4 days, while the lone outlier lasted 7 days.  This consistent patterning has shown up in longer spurts during this bull market and is otherwise known as buy the dip (or BTD). Looking at the chart below, 3 things stand out to me regarding recent pullbacks: 1.  Since the April lows, the market has twice

Biotech Takes Ill In Worst Selloff Since April

In the category of market defeat snatched from the jaws of victory, the super-heated Biotech industry is showing early signs of relapsing into the technically challenged behavior it briefly displayed back in the Spring.  One of the “Charts to Watch During the Summer Doldrums“, the iShares NASDAQ Biotechnology ETF (IBB) is proving to be anything but dull, shedding over -5% in this week’s first two days of trading. IBB’s 6

Why Copper May Deserve A Place In Your Portfolio

Since the beginning of 2011, copper has been a lousy market aside from the occasional position trade. But that tide could be ready to change. This could create an investment opportunity in iPath DJ-UBS Copper Trust Sub-Index ETN (JJC). COMEX copper futures have dipped beneath 3.000 three times since May 2013 and recovered each time. That appears to be a psychological floor. What particularly jumps out at me is a

S&P 500 E-Mini Wave Analysis Hints Lower But Trend In Tact

While prices perked up after the intra-day lows on Thursday, I still believe another leg lower will unfold. With the S&P 500 e-mini trading marginally lower this morning, the forecast below seems to remain valid. But we need to remain open minded and should know more as Friday takes shape. It is worth noting, though, that wave 2 on the S&P 500 e-mini (ES) contract may have completed already. As well,

AUD/NZD May Be Setting Up For A Break Lower

As a new contributor to See It Market, I thought it would be good to focus on some FX setups and analysis out of the gate. That said, AUD/NZD could be interesting from a short perspective here. The chart below highlights why this could offer a compelling risk/reward upon a break lower. AUD/NZD Wave 4 Setup Chart   That said, there are some considerations to the current setup on AUD/NZD. As

Miner Stock Watch: Silver Wheaton (SLW)

Precious metals made a statement this past week. Silver, in particular, caught my attention. It was higher by more than 6% for the week. That kind of move puts the silver miners on my radar. One miner that came across on my chart scans is Silver Wheaton (SLW). Let’s take a look at some things that stand out to me on both the long-term and short-term price charts. Silver Wheaton