S&P 500 Index technical analysis

 U.S. Indexes  No Responses »
May 032013
 
Correction imminent for the S&P 500 Index?
S&P 500 Index Candlestick chart showing the 19.5% gain from the November low.

S&P 500 Index Candlestick Chart

The major, intermediate and near-term trends are all up. And you always trade in the direction of the trend. And the S&P 500 just broke resistance at 1,600.

But, after a +20% gain in an index or stock, I give increased probability to any reversal patterns. We are at that point now with the S&P 500 Index. And seasonal factors align with the probability of a correction. You judge the patterns and trade accordingly.

Reference the last chart analysis for the S&P 500 Index.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2013 TradeOnline.ca

Copper daily candlestick chart

 Other Topics  No Responses »
May 032013
 
Tall white candlestick on Friday: 6.50% gain
Tall bullish white candlestick on the daily copper chart on Friday needs follow-through next week.

Copper Daily Candlestick Chart

Nice pop on Friday but there has to be follow-through next week. The intermediate trend is still down and the 20-day simple moving average is a good approximation of the intermediate downtrend.

Reference the last chart analysis on April 18, 2013 where I highlighted the hammer.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2013 TradeOnline.ca

Bullish white candlestick for the TSX Index

 TSX Index  No Responses »
Apr 092013
 
Reference the resistance levels for the TSX Index
TSX Index chart analysis showing a bullish white candlestick with resistance at 12,500.

TSX Index Daily Candlestick Chart

Reference the last chart analysis for the TSX Index showing the support zone. It held the support zone right around the 200 day simple moving average. Today, there was movement into the energy and materials stocks which is represented by the tall white candlestick. One day does not make an uptrend and there will be heavy resistance at 12,500.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2013 TradeOnline.ca

Technical Analysis for Dow Jones Industrial Average

 U.S. Indexes  No Responses »
Jan 022013
 
Bullish shaven head candlestick — first trading day of 2013
Bullish shaven head candlestick for the DJIA on the first trading day of 2013.

DJIA 6-Month Candlestick Chart

The tall bullish shaven head and shaven bottom candlestick is a graphical representation of the euphoria after a deal on the so-called fiscal cliff. It was excellent follow through for the bullish engulfing pattern of December 31. The market teetered at major support on December 27 and 28 when a deal was less than certain.

Technical analysis is all about assessing probabilities and there is a high probability that the Dow will test major resistance of 13,600. But there is a a lot of froth in this market as represented by the VIX and it can turn on a dime. The VIX has fallen 35.4 percent over the past two sessions, the biggest 2-day percentage drop in the history of the index. The next big news event is the employment report this Friday.

I would like to see the 10-Year U.S. Treasury close convincingly above 1.900% as confirmation that the Dow and S&P500 would have a chance to continue the near-term uptrend.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2013 TradeOnline.ca

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