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The gold price is trading in what appears to be a symmetrical broadening wedge formation.  This pattern has the potential to manifest itself as a continuation pattern with an upside measurement.  My current view is that it will resolve to the upside and reach possible targets near 1400 range. There…

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The SPY ETF and DIA ETF have bullish bat Fibonacci patterns that suggest any accelerated decline during the next 5 trading days (USA markets are closed on Friday April 18th) will likely be contained or stopped near the .886 Fib retracement level.  It is possible that the target levels could…

SPY ETF Daily Chart January to April 2014

The SPY ETF today once again reacted to support near the 184 zone and managed to close slightly higher for the day. The daily chart of the SPY ETF below shows the current trading dynamics. SPY ETF Daily Chart January to April 2014 There are a number of indicators that…

2014 SPY Mini Crash Scenario Trading into the 174 Low

The downside action right now in the SPY ETF is orderly and measured however I believe we are about to enter a cascade decline situation. The speed of the decline is impossible to predict, but I would not be surprised to see a ‘flash crash’ type move maybe similar to…

DJIA Quarterly Hanging Man

Today’s action in the USA market indices was certainly interesting. Just yesterday I was about to conclude that this supposed ‘panic cycle week’ said to engage starting on March 31st 2014 was a failure. But today’s price action in the indices, and especially so in the Nasdaq seems to have…