The sp500 continues to push higher on a rather steep up trendline. However it does appear to be close to the top of a new channel formation. If the channel is valid then we could start to see some price give back and a more modified up trend. If the channel is incorrect then we … Read more
Here is a quick chart zoomed in a little bit of the 70 year channel line in the DJIA and the 3 year 2007 channel line. The problem comes in with how precise the 70 year channel line should be drawn and which precise highs and lows should be connected. That decision can result in … Read more
The tape has been very slow the last several days. The sp500 finished the week Friday by printing a near perfect doji candlestick right at the top of the all important resistance range. Doji’s tend to be more reliable at pinpointing tops as opposed to bottoms. The doji we printed 9/17/2010 in the sp500 is … Read more
The gold price move seems to be well underway now and today we saw the US Dollar Index have its worst one day drop since July 31st. The dollar could be entering free fall mode for a week or two that forms some type of capitulation low. Gold is overbought now based on RSI levels, … Read more
TLR Timberline Resources did an important test today of support and swung down to test demand just above the 1.00 level. The test passed with flying colors as we say almost a complete reversal and close near the top of the range. I think TLR still has more work to do but it appears to … Read more
CTIC pulled back today and volume declined by roughly 50% compared to yesterday. It closed above the former blue downtrend that that was pierced yesterday which is a short term positive sign. Tomorrow I really prefer to see CTIC close above 1.64 or higher and to keep an intra day low that is higher than … Read more
It is a shame I did not put this post up earlier. It was in my charting program and is one I have been watching for many months. I did not post it up here earlier for various reasons but it is still good to point it out anyway even though it has already had … Read more
The chart you are about to view below looks a little bit like a children’s drawing. Of course it is not a children’s drawing, but instead a quarterly price candlestick chart of the US Dollar index, the ‘stock of the United States’. Quarterly price charts are obviously slow moving, it takes 3 full months just … Read more
The beauty of technical analysis of the sp500 is that it need not be excessively complicated. Simple is great especially when it comes to the stock market timing. Simple is usually what makes the most sense. In the long term time frame the simple argument is that we are topping in a major head and … Read more
DBLE, the second trade of the Cheetah Trading System is on life support right now. The Cheetah Trading System is currently suffering a very heavy draw down of 16 to 18% because of an entry at 10.5 many weeks ago. I really find myself in an unusual situation and it may speak to one of … Read more