Don't miss tonight's video. The last 15-minutes I discuss the trades of the day and teach you how to make a successful bearish m-M-m trade. Also featured is the a quick review of the underperformers, which I believe might be the new leadership lower. We also explore the weekly Elliott Wave count which ought to get the double dip reccession crowd pumped up.
I love technical analysis, don't you! I want to thank my viewers for making this site a success. I appreciate your loyal dedication to my teachings. We gave an a.m. alert that we moved to the short side by going long on some ETFs that are either ultrashorts, ultra pro shorts or 3x bear shares.
Attention: a.m. Alert
We have a 1-2-3 trend reversal on the S&P 500, a follow-through to our bearish mMm pattern, a bearish cross on the stochastic, the hourly prices on the S&P 500 are below the 20 period MA.
The descending triangle played on the intraday charts. Looks like the head and shoulders topping patterns are going to play out on the hourly charts. After we test support and the neckline, look for a short term bounce that will set up a right shoulder.
Went long at the open on SPXU, QID, TZA and a few others.
Watch 11-19 market update in Educational & How-To | View More Free Videos Online at Veoh.com
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Thursday, November 19, 2009
Wednesday, November 18, 2009
Tuesday, November 17, 2009
Monday, November 16, 2009
Saturday, November 14, 2009
11/13 technical analysis stock market video
The video is posted below the week-in-reveiw commentary.
11/13 Commentary:
Freaky Friday the Thirteenth
Friday we likely saw a Freaky Friday fakeout, as the market rallied on extremely light volume. We could see a post Friday the Thirteenth scare, that could spook the market next week with the Retail Sales Report kicking things off on Monday. There is a lot of economic data next week. But on Friday, the University of Michigan reported a lower than expected consumer sentiment reading of 66.0 for November.
Further, the monthly trade deficit jumped 18.2 % to widen the trade gap by 36.5 billion. That is the highest in a decade and will greatly impact the Q3 GDP, so look for a revision in that 3.5 % GDP figure that was just recently announced back on October 29, just over two weeks ago. Additonally, the Treasury Dept. announced that 176 billion dollars of dept was racked up in October alone.
Keep your eyes on the weekly chart of the Dow and the S&P 500. Both are testing their primary trendlines. It is likely that we will see a reaction off it that will jump start a correction. But regardless, we will continue to trade the trends on the hourly charts, using the histogram and stochastic on the daily charts for guidance.
The Dow, S&P 500, and the Nasdaq are setting up head-and-shoulder topping patterns on the 60-minute charts. Thursday prices broke down from some very steep rising price channels, then successfuly backtest those breakdowns on Friday setting up the right shoulders on those potential reversal patterns.
However, caution is needed because the bearish m-M-m pattern on the S&P 500 daily hasn't been confirmed with a follow-through, nor is the Nasdaq and QQQQ in agreement with the histogram on the S&P 500 daily chart. Bars are still ticking higher on the Nasdaq and QQQQ. But the stochastic did get a bearish cross on both the Nasdaq and the S&P 500 daily charts, which increases the odd that my new shorts will play out. I went short on SDS, SPXU, and on the Small Cap 3X Bear Shares (TZA). I bought the lower high made on Thursday, seen on the hourly charts.
The S&P 500 has a confirmed Shooting Star candle reversal, the Shooting Star appeared last Wednesday, and was confrimed the following day. We have other hints of a momentum change on the S&P 500 daily chart, such as a color change on Thursday, narrow range bodies on Tuesday and Wednesday. And topping tails the last four trading sessions.
On the 15-minute charts, I show both bullish and bearish scenarios. The head-and-shoulders is the bearish outcome, while a possible symmetrical triangle is the bullish one (see last chart on page 1).
As of 11/12, I'm playing the short side via taking longs on SDS, SPXU, and TZA. Additionally, if the Qs show some weakness and get a bearish triple m-M-m pattern, I will take swing trades on QID and TYP. Go see the updated charts at the public chart list linked below.
Watch 11-13 market update in Educational & How-To | View More Free Videos Online at Veoh.com
11/13 Commentary:
Freaky Friday the Thirteenth
Friday we likely saw a Freaky Friday fakeout, as the market rallied on extremely light volume. We could see a post Friday the Thirteenth scare, that could spook the market next week with the Retail Sales Report kicking things off on Monday. There is a lot of economic data next week. But on Friday, the University of Michigan reported a lower than expected consumer sentiment reading of 66.0 for November.
Further, the monthly trade deficit jumped 18.2 % to widen the trade gap by 36.5 billion. That is the highest in a decade and will greatly impact the Q3 GDP, so look for a revision in that 3.5 % GDP figure that was just recently announced back on October 29, just over two weeks ago. Additonally, the Treasury Dept. announced that 176 billion dollars of dept was racked up in October alone.
Keep your eyes on the weekly chart of the Dow and the S&P 500. Both are testing their primary trendlines. It is likely that we will see a reaction off it that will jump start a correction. But regardless, we will continue to trade the trends on the hourly charts, using the histogram and stochastic on the daily charts for guidance.
The Dow, S&P 500, and the Nasdaq are setting up head-and-shoulder topping patterns on the 60-minute charts. Thursday prices broke down from some very steep rising price channels, then successfuly backtest those breakdowns on Friday setting up the right shoulders on those potential reversal patterns.
However, caution is needed because the bearish m-M-m pattern on the S&P 500 daily hasn't been confirmed with a follow-through, nor is the Nasdaq and QQQQ in agreement with the histogram on the S&P 500 daily chart. Bars are still ticking higher on the Nasdaq and QQQQ. But the stochastic did get a bearish cross on both the Nasdaq and the S&P 500 daily charts, which increases the odd that my new shorts will play out. I went short on SDS, SPXU, and on the Small Cap 3X Bear Shares (TZA). I bought the lower high made on Thursday, seen on the hourly charts.
The S&P 500 has a confirmed Shooting Star candle reversal, the Shooting Star appeared last Wednesday, and was confrimed the following day. We have other hints of a momentum change on the S&P 500 daily chart, such as a color change on Thursday, narrow range bodies on Tuesday and Wednesday. And topping tails the last four trading sessions.
On the 15-minute charts, I show both bullish and bearish scenarios. The head-and-shoulders is the bearish outcome, while a possible symmetrical triangle is the bullish one (see last chart on page 1).
As of 11/12, I'm playing the short side via taking longs on SDS, SPXU, and TZA. Additionally, if the Qs show some weakness and get a bearish triple m-M-m pattern, I will take swing trades on QID and TYP. Go see the updated charts at the public chart list linked below.
Watch 11-13 market update in Educational & How-To | View More Free Videos Online at Veoh.com
Thursday, November 12, 2009
11/12 stock market video - technical analysis
The Shooting Star candle pattern on the S&P 500 daily chart is now confirmed. That candle pattern was on of the things that prompted me to jump back in on the short side today and close my SSO position.
I went short on the market today by going on long on the Ultrashort of the S&P 500 (SDS), the UltraPro Short of the S&P 500 (SPXU), and the Small Cap Bear 3X Shares (TZA), These are swing trades.
Their hourly charts put in a higher low during the session. After TZA got the higher low, it put in a reversal bar (pivot point), and went on to breakout of its falling price channel. SDS and SPXU didn't breakout of their channels, but they did the higher low I was looking for, followed by a reversal bar on the hourly chart.
Moreover, the S&P 500 got a bearish m-M-m pattern today. However the Nasdaq and Qs didn't confirm the histogram pattern. If the S&P 500 gets a follow through on the bearish triple M pattern, we may see the Qs and the Nasdaq follow suit. I like to see the averages confirm each other. But this is the signal that I keep telling you to watch, as it tells us whether momentum is up or down.
The Russell 2 K also got a bearish triple M pattern and is featured in tonight's video.
If the QQQQ gets a bearish m-M-m pattern tomorrow, I will add to my short swing trades by taking longs in the technology sector on the Ultra Short QQQ (QID) and the Technology Bear 3X Shares (TYP).
Tonight's video is very important, so don't miss it!
Watch 11-12 market update in Educational & How-To | View More Free Videos Online at Veoh.com
I went short on the market today by going on long on the Ultrashort of the S&P 500 (SDS), the UltraPro Short of the S&P 500 (SPXU), and the Small Cap Bear 3X Shares (TZA), These are swing trades.
Their hourly charts put in a higher low during the session. After TZA got the higher low, it put in a reversal bar (pivot point), and went on to breakout of its falling price channel. SDS and SPXU didn't breakout of their channels, but they did the higher low I was looking for, followed by a reversal bar on the hourly chart.
Moreover, the S&P 500 got a bearish m-M-m pattern today. However the Nasdaq and Qs didn't confirm the histogram pattern. If the S&P 500 gets a follow through on the bearish triple M pattern, we may see the Qs and the Nasdaq follow suit. I like to see the averages confirm each other. But this is the signal that I keep telling you to watch, as it tells us whether momentum is up or down.
The Russell 2 K also got a bearish triple M pattern and is featured in tonight's video.
If the QQQQ gets a bearish m-M-m pattern tomorrow, I will add to my short swing trades by taking longs in the technology sector on the Ultra Short QQQ (QID) and the Technology Bear 3X Shares (TYP).
Tonight's video is very important, so don't miss it!
Watch 11-12 market update in Educational & How-To | View More Free Videos Online at Veoh.com
Wednesday, November 11, 2009
Tuesday, November 10, 2009
11/10 stock market video
Last Tuesday we closed our swing trades on SPXU and SDS. However, we held on to our positon trades in those ETFs while leveraging them through the bullish momentum will longs on UPRO and SSO. Subsequently with yesterday's breakout in the 60-minute timeframe on the S&P 500, it was neccessary to close the short position trades (SPXU and SDS) with a profit. Thus, we liquidated the positions and are still holding our hedge positions.
We are looking for a reversal on those hourly charts of SSO and UPRO in order to find an exit. When a reversal occurs on the S&P 500, I will find a new long entry on SPXU and SDS. We will continue to watch for clues of a shift in momentum on the hourly charts and by keeping our eyes on the stochastic and the histogram on the daily charts.
Again, we are looking to continue to swing trade the shifts in momentum, but if the market fails to continue its current thrust higher, we will be watching for a new entry point for a position trade on the short side.
Watch 11-10 market update in People & Blogs | View More Free Videos Online at Veoh.com
We are looking for a reversal on those hourly charts of SSO and UPRO in order to find an exit. When a reversal occurs on the S&P 500, I will find a new long entry on SPXU and SDS. We will continue to watch for clues of a shift in momentum on the hourly charts and by keeping our eyes on the stochastic and the histogram on the daily charts.
Again, we are looking to continue to swing trade the shifts in momentum, but if the market fails to continue its current thrust higher, we will be watching for a new entry point for a position trade on the short side.
Watch 11-10 market update in People & Blogs | View More Free Videos Online at Veoh.com
Monday, November 9, 2009
Saturday, November 7, 2009
I didn't get a chance to go into the 15-minute charts in this video. But go look a page 1 on the public chart list. We have a dual patterns that have set up. One bullish and the other bearish. A bullish inverse head and shoulders pattern is in play along with a bearish rising wedge. If prices break above the declinging trendlines on the hourly charts, we could see the 1101 peak tested again. So keep that in mind as you examine the intraday and daily charts. Go look at the 15 minute chart, by going to Maurice's Public Chart List which is listed under the links.
Watch 11-6-09 technical analysis in Educational & How-To | View More Free Videos Online at Veoh.com
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