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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.
The important point from this chart is that the major trend is up. Always trade in the direction of the trend until the chart indicates a reversal.
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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.
Major uptrend still in effect for the S&P 500. But how long more will it last?
S&P 500 5-Year Weekly Chart
There is a high probability the S&P 500 will test the trendline which is the 200-day simple moving average.
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“The trend is your friend 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.
Intermediate trend is up for the S&P 500 until proven otherwise
S&P 500 Index Daily 1-Year Chart
The chart pattern today (Monday, April 15) indicates caution but the intermediate trend is still up until there is a confirmed break below the intermediate trendline. This is near the support zone of 1530 to 1540.
There are three trends to consider for any index or stock: up, down or sideways. And there are three time frames to consider for a trend: near-term trend, intermediate trend and major trend.
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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.
Resistance level of 1,470 will be a major test for S&P 500 Index
S&P 500 6-Month Daily Chart
Yes, 1,470 is a major resistance level for the S&P 500. A confirmed breakout would give the index a shot at the all-time high of 1,565.15 reached on October 9, 2007.
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.
The above charts provide a long-term perspective for gold. The first chart shows the pricing for SPDR Gold ETF (ticker:GLD) for the period 2005 to 2012 in the logarithmic scale. The second smaller chart extends the date range from 1974 to 2012 and shows the actual price of gold in U.S. dollars in the linear scale.
There are two generally accepted principles in technical analysis: (1) individual stocks and broad indexes move in trends, and (2) the trend will continue until there is evidence to the contrary. How is this relevant for gold? The long-term trend for gold is up and is currently trading in a major and intermediate lateral trading band. And the near-term trend is down. Given the assumption that the long-term uptrend will continue for gold, a breakout above resistance of 174 and 185 (ticker:GLD) would confirm the continuation of the long-term uptrend. On the contrary, a break below support of 150 (ticker:GLD) would raise a red flag for the continuation of the uptrend.
Significant dates in modern gold history:
August, 1971: Then-U.S. President Richard Nixon takes the U.S. dollar off the gold standard, which had been in place with minor modifications since the Bretton Woods Agreement of 1944 fixed the conversion rate for one Troy ounce of gold at $35 (U.S.).
March, 1973: Most major countries adopt floating-exchange-rate system.
January, 1980: Gold hits record high of $850 an ounce.
August, 1999: Gold falls to a low of $251.70.
November, 2004: SPDR Gold Shares ETF launched
November, 2005: Spot gold breaches $500 for the first time since December 1987.
May, 2006: Gold prices peak at $730 an ounce.
November, 2007: Spot gold hits a 28-year high of $845.40 an ounce.
March, 2008: Benchmark gold contract trades over $1,000 for the first time in U.S. futures market.
September, 2008: Spot gold rises by nearly $90 an ounce, a record one-day gain.
September, 2010: Gold prices reach $1,300 an ounce.
September, 2011: Gold prices hit a high of $1,895 USD/oz
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.
Near-term uptrend for the TSX meeting resistance at 12,200
TSX Index YTD Daily Bar Chart
The reversal of roles is an important concept in technical analysis: old support becomes resistance when it is breached and old resistance becomes support on a breakout. In the above chart, you can see the TSX Index struggling to break resistance at 12,200 which was support in the old trading range. Even if we get a breakout at 12,200 I will dust off my old charts detailing the old trading range of 12,500 to 12,200. The TSX had a dismal three year performance and the risk profile is still to the downside.
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.
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.
