It's about time I get back to some plain old charting. Forget the ratios, the market indicators and all the crazy stuff and just chart things, man. At least sometimes.…
In an NFTRH update this morning we reviewed the charts of the leader (NDX) and its leader (SOX). Here we see the Semi leadership (to NDX) that kicked in a…
This is not a pleasing short-term picture for Semiconductor and Technology bulls. Since these are leaders, it is not a pleasing picture for the broad market either. After making a…
We began using these charts earlier this year to illustrate why, despite all the negative hoopla in the media in 2016, the market very simply remained bullish, technically. Now that…
It's time again for the big picture perspective views on some key US indexes. Dow is still on the breadth thrust script (i.e. potential manic upside/ending action). S&P 500, same…
It's time again for our 'Gary's too lazy to do short-term charts with all sorts of details and parameters' big picture monthly charts of US indexes. The S&P 500 popped…
Here are the updated charts from this morning’s update. SPX and Dow are at resistance, NDX is at its first resistance level and SOX is approaching the 670 area, which was identified as its key resistance.
SPX and Dow nudged above yesterday’s highs and could open the door to further bouncing, but even if they get through resistance – as SOX potentially bounces to 670’s – the 50 day averages would represent more resistance. It was a good day for the bulls, short covering or not. But the bears took the ball away from the bulls on Monday and they still have it for now.
In an earlier subscriber update, we looked at the key bounce parameters for SPX, Dow, NDX and SOX using daily charts. In a public post a few weeks ago we…
Since the market is up handily in ‘pre’, I wanted to get you a look at what it would take to negate the technical damage of the last 2 days, with very simple daily charts of the headline US indexes (plus the SOX). This can be applied generally, to any index or stock for that matter. As of now in pre-market, these items are still well below key resistance levels.
Sometimes my charts get noisy with all the moving averages, momentum indicators, volume, different time frames, inter-market ratios, etc. For this post, some very quiet monthly charts. Let's start with…
We looked at 'em pre-market and now I have removed my drawn-in candles as the market's actual candles have blown them away. Here is what is going on. INDU is…
You can see my artwork skills on display as the pre-market implied opens for INDU, SPX and NDX are drawn in as white candles on the charts. INDU is mostly…
Yesterday’s hard reversal of Tuesday’s bullish move was an unpleasant development for the bulls but this morning, plucky as ever, they are back at it trying to bull the market again (SPX +13.50, NDX +27.50, Dow +87).
Recall that we were using the EMA 20s (orange dotted line on SPX and blue lines on NDX and Dow) as a key for the short-term. On Tuesday SPX and Dow popped above the EMA 20 but the NDX stopped right at it. NDX is a leader.
I like browsing through old charts just to see what they are saying sometimes. This one is from an NFTRH edition sometime back in 2015, when we were gauging the…