Jan 062015
 
Major trend is still up for the S&P 500
Major trend is still up for the S&P 500 index with support at 2000 and the 200-day moving average.

S&P 500 3-Year Chart

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

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“The pressure starts when you execute the trade.”

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.

© 2015 TradeOnline.ca

Dec 172014
 
A 2.54% pop today on the daily chart for the TSX Index
Daily candlestick for the TSX Index

TSX Index Daily Candlestick Chart

Tall shaven head candlestick on heavy volume bodes well for the TSX Index. But, there will have to be follow-through. And the major reason for the drop in the TSX Index was the precipitous drop in crude oil as represented by Brent, West Texas Intermediate and Western Canadian Select. But, crude oil is still trying to find a bottom.

Reference the last chart analysis for the TSX Index showing the support zone.

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And the view from the weekly chart for the TSX Index
TSX Index weekly chart showing the near-term uptrend

TSX Index 3-Year Weekly Chart

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“It is all about 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.

© 2014 TradeOnline.ca

Dec 152014
 
High probability S&P 500 will test major support of 1950
S&P 500 will test major support at the 200-Day moving average.

S&P 500 3-Year Weekly Chart

Major points from the above candlestick chart for the S&P 500 Index:

  • Major trend is up
  • Intermediate trend is up
  • Near-term trend is down
  • Tentative break below the 50 moving average
  • Tentative break below the support level of 2000
  • Major support is around 1950 which is the 200-day moving average
  • Next support zone is the October low

Bloomberg: Wildest Day in 2 Months for S&P 500 as Stock Swings Echo October

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“It is all about 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.

© 2014 TradeOnline.ca

Dec 012014
 
Tentative breakout for WestJet at 33. Target price 35 to 36
Tentative breakout for WestJet at 33 with a target price of 35 to 36.

WestJet (WJA) 6-Month Daily Chart

Until WestJet holds for a couple of days above 33, I class the breakout as tentative. If it holds, we have a new support reference point. The reversal of roles from resistance to support is a important concept in technical analysis.

Reference my last chart analysis for WestJet published on October 23, 2014.

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A view from the weekly chart showing the major uptrend for WestJet
Weekly chart for WestJet showing the major uptrend.

WestJet 3-Year Weekly Chart

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“It is all about 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.

© 2014 TradeOnline.ca