Tag Archives: RSI

Intermediate uptrend continues for S&P 500 Index

New support level of 1,470 for S&P 500
Chart analysis for the S&P 500 Index showing the intermediate uptrend and the new support level of 1,470.  RSI and volume are the confirming the uptrend.

S&P 500 6-Month Daily Candlestick Chart

The trend, rsi and volume indicate the index has a chance at the all-time high of 1,565.15 reached on October 9, 2007. But the first test will be 1,500 which is a significant round number. On the reverse side, a break below support of 1,470 would be a strong indicator to liquidate long positions.

Reference the last chart analysis for S&P 500 posted January 4, 2013

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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.

© 2013 TradeOnline.ca

TSX Composite Index chart analysis

TSX Index intermediate uptrend and resistance levels
Chart analysis for the TSX Composite Index showing the intermediate uptrend  with resistance levels. RSI and volume are confirming the uptrend.

TSX Composite Index Weekly Chart

The 12,800 level near the February, 2012 intraday high of 12,788 has been a significant support and resistance level back to June, 2011 when it acted as support. Then it was a resistance level in September, 2011. The reversals of roles in an important concept in technical analysis. I  want to see a confirmed close around 12,900 that holds for two days before the 12,800 price zone is declared a new support level.

The TSX Composite Index has the momentum to breakout above near-term resistance of 12,788 which was the February, 2012 intraday high. But; the materials and oil sectors, which have a 45% weighting in the index, are not participating in the advance. These two sector will have to move upward to sustain the intermediate uptrend in the TSX Index to the 13,500 resistance level. And for these two sectors to move, the underlying commodities have to move upward. But, there is no intermediate uptrend for gold, silver, copper, or oil. And, then there is the frustrating Canadian crude differential partly due to pipeline constraints. And, then there is the low North American price for natural gas.

Reference the last chart analysis for the TSX Index posted on January 10, 2013.

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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.

© 2013 TradeOnline.ca

Canadian Natural (CNQ:TSX) chart analysis

Intermediate trend is down for Canadian Natural Resources
CNQ chart analysis showing the downward sloping intermediate trendline.

CNQ YTD Daily Bar Chart

When you see a chart like this for a major Canadian oil company, you can understand the dismal performance of the TSX Index.

Reference the last chart analysis for CNQ published on July 17, 2012.

Reference the corporate website for CNQ.

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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

S&P 500 Index chart analysis

Intermediate trend is down for the S&P 500 Index
S&P 500 Index chart analysis showing the downward sloping trendline.

S&P 500 Index YTD Daily Chart

The reversal of roles is an important concept in technical analysis: support levels that are breached become resistance in a new uptrend. That is the case for the 1410 to 1425 resistance zone.

Reference the last chart analysis for the S&P 500 Index posted on November 12, 2012.

Reference my chart analysis for the S&P 500 Index published on September 26, 2012 showing the support zone and the projected retracement zone if support was breached.

Reference the candlestick chart analysis for the S&P 500 Index published on April 17, 2012 where I gave the index a high probability of breaking resistance.

Relevant articles picked from the Web:

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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

TSX Index near-term support and resistance levels

TSX Index must hold 12,200 or the intermediate uptrend is over
TSX Index chart analysis showing near-term support and resistance levels.

TSX Index YTD Daily Candlestick Chart

The weekly chart for the TSX Index published on September 14, 2012 shows the dismal performance over the last three years. It is not a pretty picture. And the above daily chart shows the TSX stalling at 12,500 with a paltry gain of around 11% from the 11,300 low and a YTD gain of 0%. Also, a two year performance of 0% is not too encouraging. With energy, basic materials and financials (LifeCos in particular) not performing; the TSX does not have a chance for a shot at 12,800.

Some points to review from the above chart:

  • Intermediate uptrend for TSX Index as of September 24, 2012
  • Could not break resistance of 12,500
  • Near-term downtrend
  • RSI is confirming the intermediate uptrend and above 0
  • Near-term support and resistance levels are identified
  • Must hold 12,200 to maintain the intermediate uptrend

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Reference past posts and related sites:

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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

TSX Index candlestick chart analysis

Not an encouraging candlestick pattern on the weekly chart
TSX Index candlestick chart analysis showing volume and RSI.

TSX Index 3 Year Weekly Chart

Reference the last chart analysis for the TSX index based on the daily chart.

Must read articles from the Web:

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

U.S. Treasury 10-Year Note chart analysis

Near-term uptrend with resistance at 1.700%
Near-term uptrend for the U.S. Treasury 10-Year Note with resistance at 1.700%. It will meet major resistance at the resistance level of 1.800% which is evident on the weekly chart. Also, note that the the intermediate lateral trading range and divergence of the the RSI which did not confirm the bottom of 1.400%.

U.S. Treasury 10-Year Note 1 year Chart

Near-term uptrend for the U.S. Treasury 10-Year Note with resistance at 1.700%.

Note the divergence between the oscillator (RSI) and the price action when the oscillator did not confirm the low of 1.400%.

Reference the last chart analysis for the 10-Year Treasury.

Relevant articles picked from the Web:

______________________________

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