Could you please recommend some books, online courses, etc. that will teach me how to do charting? I am using the free stock charts service as you suggested and have read "Trade Like Jesse Livermore" in your library, but feel I need to take it to the next level. I want to learn how to draw and interpret trend lines, etc. and eventually master charting.
It's interesting that I once thought charting was tantamount to reading stars to predict the future, but realize… Continue
InTheMoneyStocks.com breaks out the key technical analysis techniques they have become famous for. They analyze the charts on the market to showcase their technical trend line analysis, price, pattern and time values. By utilizing these methods and not using the common technical tools which almost never work anymore, they are able to call every major and minor market move avoiding Wall Street hype. InTheMoneyStocks.com looks at major support and resistance levels… Continue
Added by Bryan Leighton on October 30, 2009 at 1:51pm —
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The $NDX ended up falling very hard today, and both it and the $SPX are at the trendlines now. Combine exponential trendline analysis with sentiment, and you have a high probability of a short term rally...
We are now approaching some intermediate scale trendlines, which I have highlighted. Today's low (so far) on the $SPX is almost on one now. Tomorrow or Friday could see a bounce as some indicators are getting oversold. The nature of any bounce that materializes will tell a great deal about the real condition of the market.…
You can see the trendlines in this system, that I've highlighted, that have to fail for the bear to fully come back...
The Macro view will be seen later, assuming the decline continues, as on that scale this current change is barely visible...
Today's intraday reversal in the equities markets follows a pattern that has been established of late of selling into rallies. Key support levels have been broken to the downside and without a late day recovery a close below those levels will likely usher in a significant pullback.
The dollar has also broken out of its descending wedge pattern. I was observing that the dollar was not selling off on the significant early strength in equities and was instead starting to push higher. I… Continue
Added by Steven Vincent on October 26, 2009 at 1:32pm —
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InTheMoneyStocks.com breaks out the key technical analysis techniques they have become famous for. They analyze the charts on the market to showcase their technical trend line analysis, price, pattern and time values. By utilizing these methods and not using the common technical tools which almost never work anymore, they are able to call every major and minor market move avoiding Wall Street hype. InTheMoneyStocks.com looks at major support and resistance levels on the… Continue
Added by Bryan Leighton on October 24, 2009 at 9:03pm —
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Commercial hedgers (the smart money) have been increasing their short positions on gold and silver. This has been going on for at least a few weeks and continues:
InTheMoneyStocks.com breaks out the key technical analysis techniques they have become famous for. They analyze the charts on the market to showcase their technical trend line analysis, price, pattern and time values. By utilizing these methods and not using the common technical tools which almost never work anymore, they are able to call every major and minor market move avoiding Wall Street hype. InTheMoneyStocks.com looks at major support and resistance levels on the… Continue
Added by Bryan Leighton on October 22, 2009 at 2:05pm —
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The RUT:INDU Ratio chart shows that internal breadth has narrowed dramatically in the last two weeks of earnings season. The rally is being supported by a few big cap names (represented by the 30 DOW stocks in INDU) while interest in the broad market (represented by the 2000 stocks in the Russell 2000 Small Cap Index) has declined sharply. This is a dramatic contrast with earlier stages of the rally. Caution is warranted.…
Here's a favorite market aphorism that helps me stay on the right side of the market:
"When a market doesn't do what it's supposed to do when it's supposed to do it then it may be about to do the exact opposite in a big way"
Well, the action in the market over the last two weeks of earnings season fits the above description. Today's intraday reversal was a big yellow flag. I am not calling "the top" or suggesting that we get short but I am putting out the caution… Continue
Added by Steven Vincent on October 21, 2009 at 11:50pm —
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