Apr 202016
 

Major downtrend and intermediate downtrend for natural gas. Near-term uptrend will meet heavy resistance at the 40-week moving average. A break above this average would indicate a test at $2.50. Natural gas has a long way to go before it is out of the woods.

Major downtrend and intermediate downtrend for natural gas. Natural gas will meet heavy resistance at the 40-week moving average. A break above this average would indicate a test at $2.25. Natural gas has a long way to go before it is out of the woods.

http://www.eia.gov/naturalgas/

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“Technical Analysis is 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.

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Apr 112016
 
A view of the Dow Jones Industrial Average from 1987 to 2016
Long-term chart for the Dow Jones Industrial Average for the period 1987 to 2016.

DJIA Logarithmic Bar Chart (1987-2016)

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A view of the Dow Jones Industrial Average from 2013 to 2016
Dow Jones Industrial Average three year chart show the resistance and support zones.

DJIA 3-Year Candlestick Chart

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A view of the Dow Jones Industrial Average compared to the TSX Index
Comparison of the TSX and the Dow from 2004 to 2016

Comparison of the TSX and the Dow from 2004 to 2016

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“Technical Analysis is 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.

© 2016 TradeOnline.ca

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Apr 092016
 

I published the long-term chart for WD-40 as an example of identifying the major uptrend and riding the trend. A simple strategy of staying in the trade above the 40-week simple moving average was a simple winning strategy: enter above 40-week sma and exit below 40-week sma. The consumer staples sector was a winning sector over the past 6 years.

Long-term chart for WD-40  showing the major uptrend.

WD-40 Long-Term Chart (2004-2016)

http://investor.wd40company.com/overview/default.aspx

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“Technical Analysis is 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.

© 2016 TradeOnline.ca

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Apr 042016
 

Beginning in 2013, you can see the start of the divergences in the TSX and Dow. In 2015, the divergence accelerated as oil prices collapsed. Major support for the Dow is around 16,000. Major support for the TSX Index is around 12,000.

Comparison of the TSX and the Dow from 2004 to 2016

Comparison of the TSX and the Dow from 2004 to 2016

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“Technical Analysis is 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.

© 2016 TradeOnline.ca

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Mar 062016
 

The doji star is a potent warning when it appears after a sustained uptrend. It is a yellow light indicating caution. And it is close to the 10.00 resistance zone. A gap down on Monday that closes deep into the two prior white candlesticks would complete the evening doji star pattern. If the stock advances on Monday towards the 12.00 resistance zone, the doji star is nullified. Monitor the price action and trade accordingly

6-Month Candlestick Chart showing the doji star

6-Month Candlestick Chart

Reference: A view of the weekly chart for Teck Resources showing the major downtrend but an intermediate and near-term uptrend with the $10.00 resistance zone.

On the plus side:  Copper continues to breakout in a near-term uptrend which bodes well for Teck Resources.

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+33.94% for the week! Intermediate and near-term uptrend

3 Year Weekly Chart

3 Year Weekly Chart

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“Technical Analysis is 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.

© 2016 TradeOnline.ca

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Apr 212015
 
Weekly chart for S&P 500 Index showing the major uptrend
Major uptrend still in effect for S&P 500 Index.

S&P 500 3-Year Weekly Chart

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Daily chart for S&P 500 Index
Daily chart for S&P 500 Index

S&P 500 Index Daily Candlestick Chart

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“Stay with the trend until it ends.”

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

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Dec 152014
 
Will the Canadian Dollar test $0.8400 by year-end? Maybe!
Weekly chart for the Canadian Dollar showing the major downtrend

Canadian Dollar 3-Year Weekly Chart

Major trend, intermediate trend and near-term trend are all down.

Reference my analysis from March 21, 2014 and the follow excerpt:

On the long-term chart (not shown) there are support levels at $0.8600 and $0.8400. Yes, there is a high probability we could see the Canadian dollar test the $0.8400 level before the end of the year.

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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