Chartology

Crude Oil: Could This Lonely White Candle Trigger A Rally?

No introduction necessary. Crude Oil has traded like death for several months, laying claim to several trading victims who tried to pick up a dime in front of the bulldozer. But Friday’s Crude Oil rally gave bulls a reason for hope. A lonely white weekly candle. I’ll let the chart below do the explaining, but Crude Oil has not seen a long white weekly candle since its “all too orderly”

Amazon (AMZN) Earnings Boost Stock, Trigger Chart Breakout

The monster Amazon earnings reaction has triggered a handful of bullish technical developments in Amazon’s stock (AMZN). To recap, the stock had been loitering in a downtrend (lower highs) for the past year. And muted Amazon earnings expectations allowed the stock to pop on its earnings beat. And this set the stage for today’s AMZN chart breakout to new 6 month highs. Let’s take a look at the chart and

Why Investors Should Watch 1976 On The S&P 500

Math plays a big role in nature and the financial markets. For instance, several trading algorithms use Fibonacci retracement levels to identify levels where buyers may interest in stocks (support). The math provided below may be helpful to us in the coming days. At a minimum, it is prudent for investors to be aware of the possibility that the S&P 500 could bounce near 1976 should the market test that level: The

S&P 500 Update: Market Levels And Indicators To Watch

The S&P 500 (SPX) recovered nicely off the lows made this morning (1989.18). After spending much of the morning in negative territory, stocks rallied with strength in the afternoon, with SPX volume running slightly above average. BUT it’s also worth noting that this type of action fits in with the bigger picture market “chop” that we’ve seen for the past two months. The move to the downside this morning offered a risk-defined trading

London’s FTSE 100: Battling 15 year Resistance Level

With London’s FTSE 100 Index, the current price area has stood as particularly durable resistance for more than a decade. We are watching to see whether the index can leave a lower high at the start of 2015. The FTSE includes the top 100 stocks on the London Stock Exchange based on market capitalization. Together, the 100 companies represent more than 80% of the market capitalization of the entire exchange.

Bearish Continuation Patterns Emerge In Energy Sector (XLE)

Energy stocks had an awful Wednesday with the Energy Select Sector SPDR (XLE) losing 3%. What’s surprising is the ETF didn’t even test the falling 50 day moving average. Generally sellers wait for a test of the moving average when it’s so close by, but they couldn’t wait to sell the ETF and its several underlying energy stocks today. Several charts of key stocks within the energy sector are emerging with bearish

Rare Territory: The US Dollar Towers Above Its 200 Day SMA

The US Dollar Index turned vertical into 2015, touching as high as 95.86 over the past week. But the recent rise has also pushed the US Dollar Index to one of the highest levels above its 200 day simple moving average in the past 30 years. This is truly rare territory for the US Dollar. Can anything cool it off? Well, it just so happens that this unheard of strength has propelled the

US Dollar Chart Pattern: CounterTrend Move Imminent

The US Dollar Index has made a big move higher since mid 2014. The world’s financial landscape is changing, and several markets, including the Forex, are in flux. How this shakes out longer-term is another story, but over the near term the US Dollar chart pattern may be setting up for a countertrend move. My particular skill set is finding PATTERNS that repeat based on musical math and then take a

Crude Oil Prices Eye 52 Week Lows: What’s Next For Crude?

Crude Oil prices continue to be a hot topic. And as news continues to stream out of the Europe regarding the ECB’s bond buying program, the falling Euro, and/or country elections, oil keeps falling. The news cycle this week is no different, as the Greek elections could pressure the Euro and, in turn, Crude Oil prices. Perhaps there is too much focus on Europe and its battle with deflation. That’s