Tag Archives: candlestick

Bullish Engulfing Pattern for S&P 500 Index

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And, bullish shaven head candlestick at 2020 support level
S&P 500 6-Month Daily Chart showing the bullish engulfing pattern at the 2020 support level.

S&P 500 6-Month Daily Chart

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

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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.

© 2015 TradeOnline.ca

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Technical Analysis:TSX Index Daily chart

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A failure to break resistance of 12,900
TSX Index chart showing the failure to breakout above resistance of 12,900.

TSX Index 6 Month Daily Chart

On Wednesday, the TSX Index reached a 52 week high and a tentative breakout above resistance of 12,900.

On Thursdays, the doji candlestick showed the indecision of traders.

On Friday, traders made their decision. The shaven bottom candlestick shows the sell-off on above average volume. This does not bode well for trading on Monday.

Reference the last chart analysis for the TSX 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.

Technical Analysis: U.S. Treasury 10-Year Note

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Monitor the resistance level of 1.70% and then 1.80%
Candlestick chart showing the the key resistance levels of the U.S. Treasury 10-Year Note

U.S. Treasury 10-Year Note 3 Year Chart

Has a negative technical profile as indicated by the major trend which is sideways and intermediate trend which is down.

The yield would have to move above the resistance levels of 1.70% and 1.80% if the near-term rally in U.S. equities is to continue. This represents the movement of capital from the relative safety of the U.S. Treasury to U.S. equities. A sustained advance of the 10-Year yield to the 2.40% level would indicate the upward movement in commodity based indexes like Canada, Australia and Brazil as investors take on more risk.

Reference the last chart analysis of the U.S Treasury 10-Year Note based on the daily chart.

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. 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.

© 2012 TradeOnline.ca

Can the NASDAQ Index break 2,880?

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Candlestick chart shows the near-term uptrend

Candlestick chart analysis for the NASDAQ index showing the major trend, the intermediate trend and the near-term trend.

NASDAQ Three-Year Weekly Candlestick Chart

The NASDAQ is still in a good position for another test of major resistance at 2,880. There needs to be an increase in volume and a convincing two-day close of around 2,940. This would indicate an intermediate target of 3,160.

Reference the previous candlestick chart for the NASDAQ

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. 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.

TSX Index candlestick chart analysis

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What is the downside risk for the TSX Index?
Candlestick chart analysis for the tsx index showing the downside risk based on the double top and retracement levels.

2-Year Candlestick Chart of the TSX Index

What are the key points from the above chart of the TSX?

  • There is the possibility of a double top at 14,300.
  • Major support on the weekly chart is 13,500. Reference the previous chart.
  • I use a two-day time filter and a 2% penetration rule based on the closing prices.
  • 13,500 will become resistance if the TSX closes below 13,500 using the above filters.
  • 13,200 (near the March 7 retracement of 13,250) would then become major support.
  • Using the above filters, a closing price of around 12,900 would confirm a double top.
  • The downside risk would then be around 12,200.

______________________________

Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. 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.

© 2011 TradeOnline.ca