Category Archives: U.S. Indexes

S&P 500 moves above the 50-day sma and 1950 resistance

Tall shaven head and shaven bottom candlestick is a graphical representation of the powerful 2.39% upswing today. Need to look for follow through on Wednesday
S&P 500 Daily Candlestick Chart showing the move above the 50 day simple moving average.

S&P 500 Daily Candlestick Chart

Some points from the above daily chart of the S&P 500:

  • A strong move back above the 50-day sma.
  • Closed above resistance of 1950.
  • I posted a chart for the break below the 50-day on Monday.
  • What a difference a day makes!
  • The shaven head and shaven bottom candlestick is a graphical representation of the move.
  • Shaven head represents a close at the high of the day.
  • Shaven bottom represents the open as the low of the day.
  • In other words, no dithering.
  • The market opened at the low and closed at the high
  • Bodes well for a follow through on Wednesday.
  • The volume is the fuel that drives the market. Must have volume in an uptrend. Volume was ok today.
  • If the break holds, the next resistance point is 2000.
  • A break above 2000 indicates a test of the 200-day sma.
  • And, …………

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Risk on sectors dominated the action today

S&P 500 Sectors

S&P 500 Sectors

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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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S&P 500 closed today below 1950 and 50-day sma

S&P 500 5-Month Daily Chart showing the close below the 50-day sma

S&P 500 5-Month Daily Chart

Reference the Feb 17, 2016 post: Dead cat bounce? S&P 500 will test resistance at 1950

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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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West Texas Intermediate 6-month daily chart

Intermediate downtrend defined by the 40-day moving average
WTI 6-Month Daily Chart

WTI 6-Month Daily Chart

Reference the last chart analysis for WTI.

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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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Dead cat bounce? S&P 500 will test resistance at 1950

1950 is just the first resistance point
S&P 500 1-Year Daily Chart will test resistance at 1950

S&P 500 1-Year Daily Bar Chart

______________________________

“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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Gold 5-Year Chart

A pullback to the trendline would have support around 1200
Gold 5-Year Weekly Line Chart showing the trendline and support around 1200

Gold 5-Year Weekly Line Chart

Reference the last chart analysis for gold.

______________________________

“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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10-Year U.S. Treasury Yield Index 5-Year Chart

10-Year Treasury Note Yield chart 5-year chart

10-Year Treasury Note Yield 5-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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Dow Jones Industrial Average at major support: 15500

We will get a bounce but will it be a dead-cat bounce?

Dow Jones Industrial Average weekly chart_2016-02-11

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Fibonacci Retracement Levels published on January 15, 2016
DJIA 5-year chart showing the fibonacci retracement levles

DJIA 5-Year Chart

______________________________

“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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$20 is now in play for West Texas Intermediate

Major, intermediate and near-term trends are all down
West Texas Intermediate 6-Month Chart

West Texas Intermediate 6-Month Chart

I have posted many charts on WTI. You can reference the long-term charts. WTI is now approaching levels last seen in 2002 to 2004. All one can do now is monitor the near-term trend for the development of a firm support zone.

From a world perspective, the net benefit of cheap oil in more than offset by the negative effect of the uncertainty created. Central bank policy of 0%  money helped fuel an unprecedented exploration boom in the shale fields. Banks loaned money to everyone with a drill bit.  Banks are now carrying impaired loans on their balance sheets. The story is not finished.

Reference my last post for WTI: Will $30 hold?

______________________________

“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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