Today’s Chart of the Day was shared on Twitter by @vixsquared. It’s a daily candlestick chart of the S&P 500 with a line chart of the Value Line Geometric Composite ($VALUG) overlayed. The Value Line Geometric Composite is an equally weighted index of about 1700 stocks. It uses a geometric average, so the daily change […]
Chart of the Day – Monday, October 7th, 2019
Today’s Chart of the Day was shared on Twitter by Andrew Thrasher (@AndrewThrasher). It’s a one-hour candlestick chart of the S&P 500 index. Andrew points out that price is running into short-term resistance. The chart is a great example of the principle of polarity, where former resistance tends to act as support and vice versa. […]
Range-Bound
After a stellar June and July, markets have been hit in August. So far, we saw a nearly 7% drawdown from all-time highs on the S&P 500 ($SPX), but have rebounded over the last few trading sessions. However, even being so close to these highs, sentiment remains quite bearish, as we have pointed out in […]
Easy as Yuan, Two, Three
All the talk on Monday was over the development of the Chinese Yuan falling drastically against the US Dollar. For some, this is a huge deal because they get to tie it to some political headline about Trump, tariffs, trade tensions, etc. But for technicians it’s a big deal because the 7.00 level in the […]
Bearish Undertones
“Risk happens fast.” Or whatever the smart alecks in the media and Twitter say. But it is hard to deny that there are some bearish undertones to the market these days, at least over the short term. Is it because someone Tweeted something? Is it because of interest rates? Is it because of the US […]
