Tag Archives: hammer

S&P 500 hammered out a bottom at 2000

Hammer confirmed with the gap and white candlestick today
S&P 500 6-Month Daily Candlestick Chart showing the hammer and the upward gap with the positive white candlestick.

S&P 500 6-Month Daily Candlestick Chart

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

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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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S&P 500 Index – bottom? rally? and 2040

Hammer on the weekly chart
Hammer on the weekly chart for the S&P 500

S&P 500 3-Year Weekly Chart

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Two bullish candlesticks on the daily chart
Two bullish candlesticks on the daily chart for the S7P 500 Index

S&P 500 1-Year Daily 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.

© 2015 TradeOnline.ca

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West Texas Intermediate (WTI) candlestick chart

Hammer on weekly chart indicates tentative support at 80
Hammer on the weekly chart for WTI indicates support around 80 as the shorts covered on Thursday. It is not a perfect hammer which would have a smaller real body and a longer shadow.

WTI 3-Year Weekly Chart

The shorts covered. Hammer on the weekly chart for WTI indicates support around 80. It is not a perfect hammer which would have a smaller real body and a longer shadow. There was also the support at 80 back in June, 2012.

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Daily chart for WTI shows the support level around 80
Daily candlestick chart for WTI showing the support level around 80.  There was heavy volume on Thursday as the shorts covered.  But the spinning top candlestick on Friday indicates ambivalence.  It is not the time to go long or short. We will have to monitor the price action next week.

WTI Daily Candlestick Chart

Daily candlestick chart for WTI showing the support level around 80. There was heavy volume on Thursday as the shorts covered. But the spinning top candlestick on Friday indicates ambivalence. It is not the time to go long or short. We will have to monitor future price action. There is a high probability the bears will take another run at testing the support level.

Reference the last chart analysis for WTI and Brent published on October 14, 2014.

Reference the Monthly Oil Market Report from OPEC.

Expectations for next month’s Opec ministerial meeting now weigh heavily on the oil market after the sharpest sell-off in years over the past month, analysts said. Read the rest of the article………….

Excellent article from a Canadian perspective: In the oil sands, this is not the time to panic

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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

TSX Index candlestick chart analysis

Hammer indicates a bottom on the weekly candlestick chart
Hammer indicates a bottom on the weekly candlestick chart for the TSX Index.

TSX Index 3-Year Weekly Chart

Reference my last chart analysis for the TSX Index showing the retracement levels. The TSX Index may have found support at the 50% retracement point.

A busy calendar for next week: View calendar…………..

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Bullish Engulfing Pattern indicates a bottom on the daily candlestick chart
Bullish engulfing pattern on the daily candlestick chart indicates a bottom for the TSX Index.

TSX Daily Candlestick 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

XEG – iShares S&P/TSX Capped Energy Index ETF

Hammer indicates a bottom on the weekly candlestick chart
XEG - iShares S&P/TSX Capped Energy Index ETF weekly candlestick chart showing a bullish engulfing pattern.  This may indicate a bottom.

XEG – iShares S&P/TSX Capped Energy Index ETF Weekly Chart

XEG – iShares S&P/TSX Capped Energy Index ETF

Reference my last chart analysis for XEG etf published April 4, 2014.

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Bullish Engulfing Pattern indicates a bottom on the daily candlestick chart
XEG - iShares S&P/TSX Capped Energy Index ETF candlestick chart showing a hammer.  this may indicate a bottom.  We will see.

XEG – iShares S&P/TSX Capped Energy Index ETF Daily Chart

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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.

© 2014 TradeOnline.ca

Copper candlestick chart analysis

Hammer on the chart today is a reversal pattern
A hammer appeared on the daily chart for copper. A hammer is a reversal pattern.

Copper Daily Candlestick Chart

The hammer on today’s chart is a reversal pattern. This is an indicator that the intermediate downtrend will end. It does not mean that copper will suddenly reverse direction: it could ease into a consolidation zone. The price action today is reflected in the hammer. Copper opened at $3.18 and then traded down to $3.06 which was close to major support at $3.00. It then closed at $3.20.

Reference the last chart analysis for copper based on the weekly chart.

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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.

© 2013 TradeOnline.ca

Candlestick chart analysis: Dow Jones Industrial Average

Near-term downtrend and the hammer for DJIA
Candlestick chart analysis for DJIA showing the near-term downtrend with support at 13,000 and the 200 day moving average. The hammer is a reversal pattern.

DJIA 6-Month Candlestick Chart

The hammer candlestick line is a reversal indicator. In this case, there is an increased probability that the six day near-term downtrend for DJIA will end. The price action for the hammer is a graphical representation of the index attempting to hold support at the 13,000 level which is also near the 200-day moving average. Follow the price action the next day which will confirm or nullify the hammer. A confirmed break below 13,000 would be a bad omen for the Dow. I use a time and percentage filter for the confirmation: 2% break that holds for two trading days. There is flexibility with this trading rule. As a matter of fact, there is flexibility with most trading rules in technical analysis.

Reference the last chart analysis for the Dow Jones Industrial Average.

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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 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