Chartology

Rough Week For Precious Metals: Gold Charts In Focus

The Goldman Sachs Precious Metals Index (GPX), ended the week down another 1.55 percent at 1615.28. This closing price has decisively broken the weekly support of 1652.66 made in June of 2014. The next major support level to watch now is 1584.59, the weekly low made in December of 2013. I have been highlighting this weakness in precious metals for a while and it seems as if investors are finally beginning to take note of

Chart Of The Day: US Dollar Strength Slows Emerging Markets

By now, most market participants have taken note of the US Dollar rally. In the early stages of the rally, it was simply a slow rise. However, that has given way to a rapid accent, seeing the US Dollar Index jump from below 80 to 84.75 in just over two months. And the recent surge higher in the Dollar seems to be adding some volatility to the Emerging Markets complex. In the

S&P 500: Magnet at 2000 Setting Stage For Volatility Breakout

Despite – or rather, because of – Tuesday’s pop, a widely followed measure of volatility on the S&P 500 just printed it’s lowest value since January 4, 2007. The SPDR S&P 500 ETF (SPY) Daily Bollinger Bands - a gauge of the standard deviation of the index’s closing value from a given (usually 20-period) moving average -  closed today with a bandwidth of only .0143. This 7 year low – surprisingly lower than even Q2

Nasdaq 100 Breakout: Watch That Retest

Over the past few months, I’ve written several pieces on the Nasdaq 100′s outperformance and leadership position. And just last month, I wrote about the Nasdaq 100 breakout above 4000. That breakout helped lead the Dow Jones Industrial Average and S&P 500 to new highs. But lost in all the excitement is the technical understanding that most breakouts get tested… whether it be sooner or later (from my post on 8/19): Now before

WTI Crude Oil Traders: Time To Consider Covering Shorts

On August 15th, I wrote a post for See It Market about waiting for a bounce in WTI Crude Oil Futures (or related exchange traded products) before going short. If you happened to sell into the 8/21 – 8/29 rally, I believe the timing is right to consider taking a partial or full profit here. Perhaps there is more downside, but being generally conservative myself, I’d probably step out of this market

Emerging Markets (EEM) Underperformance: Charts In Focus

The Emerging Markets sector has been a tricky play for active investors. 3 failed rallies in 3 years has left many with a poor taste in their mouths. And once again, the rally is on. Is it for real this time? The Emerging Markets ETF (EEM) has put together a strong rally out of the February bottom and is currently attempting to breakout above key resistance. But EEM has a few issues to

Twitter (TWTR) Strong On Debt Offering; Key Fibs Loom

Last week, Twitter (TWTR) announced that it had raised $1.8 Billion in a convertible note offering. This sent the stock higher and gave it some support throughout the week. Twitter closed the week up 2.8%, a very strong performance considering the equity markets were down for the week. By all accounts, Twitter is striking while rates are still low. But regardless of the merits of the deal, I found one technical nugget

3 ETFs For Trading Japanese Equities Amid Yen Weakness

There have been a couple of developments in the Japanese markets that traders are (or should be) monitoring. In the equity markets, there is a bullish consolidation pattern developing that active investors with an intermediate-term horizon may benefit from. Yet, at the same time, Japanese equities investors will need to keep an eye on the currency market with a focus on the impact of a weakening trend in the Japanese Yen’s value to the US Dollar.

Is The US Dollar Setting Up For Another Move Higher?

The US Dollar has the attention of the global financial markets, especially the commodities sector. Just check out the action in Grains, Oil, and Precious Metals. Earlier this week, I highlighted the weakness in Gold and Silver. Surely a function of a stronger US Dollar. So, is the US Dollar setting up for another move higher? Let’s see what the chart is telling us and check in on some key Fibonacci

Precious Metals Weak: Breaking Down The Charts

Both gold and silver continue to lose favor with investors as evidenced by precious metals continued weakness into September. This also shows up in technical analysis, so let’s review some charts. Starting with a broader look, let’s break down the 3 year chart below of the Goldman Sachs Precious Metals Index (GPX). There are three very important support levels to watch right now: 1589 – The weekly low in June,