Jun 182014
 
Need a confirmed close above the March, 2008 high of 15154
Major uptrend continues for the TSX Index.

TSX Index weekly chart 2007 – 2014

The materials sector and in particular gold stocks participated in the rally today. Reference the MarketCarpet from StockCharts.com for a graphical representation of the stocks that made the move.

Reference my last chart analysis for the TSX Index.

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“Yes, the trend is your friend!”

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.

Jun 122014
 
Breakout from resistance of $105
Breakout for WTIC today from resistance of $105

West Texas Intermediate Weekly chart

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“Charting is all about assessing probabilities”

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.

May 152014
 
DOW could not hold the Monday breakout
Dow Jones Industrial Average could not hold above the breakout level.

Dow Jones Industrial Index Daily Chart courtesy of StockCharts.com

Reference my post on Monday when the Dow Jones Industrial Index broke above major resistance to an all-time high.  At that time, I penciled in the new support level of 16,600. The important point from the above chart is that the breakout failed to hold and this was a significant breakout. The 16,600 level is back again to the resistance point and support is around the 50-day simple moving average of 16,400. Caution is advised as the near-term uptrend is over and taking some money off the table maybe prudent at this point. But, and there is always a but, the major uptrend is still in effect for the Dow as approximated by the 200-day simple moving average.

Dow Jones Industrial Average

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“Keep it Simple”

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.

Feb 232014
 
TSX Index will test major resistance around 14,300
Major resistance for the TSX is around 14,300

TSX Index 4-Year Weekly Chart

Reference the last chart analysis for the TSX Index.

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“Keep it Simple”

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.

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