Over the course of the last few weeks I have had a bearish slant on the market indices from a long term perspective particularly the monthly chart time frame. I have to admit that on the daily time frame right now I am not seeing much follow through on the downside. This could mean one … Read more
The tape today was weak but it had the disguised appearance of being constructive. The slow grinding type pattern could have been interpreted a number of different ways. My first reaction to today’s tape action was “where is the beef” ? The previous two market trading days were essentially reversal hammers. And so the questions … Read more
Assuming the DJIA can get down to the 12,700 level in the days ahead, there should be a sizable upside bounce from this level (or within 10 to 20 points above or below this level) which may serve as a possible entry point for a new short position. At this juncture it looks quite probable … Read more
Some traders are pointing out possibilities of a stock market crash this May 2012. On several other occasions in the past on Best Online Trades I have looked closely at scenarios where the market was patterning similar to previous crash formations such as 1987 or 1929. Most of the time these types of predictions fail … Read more
The yearly chart of the sp500 was looking bullish for a long time and in fact during 2012 continued to look bullish for the simple fact that it was able to break up north through and above the 2007 bear market down trend line. As with any price chart, there is always the conditional event … Read more
The US market indices are fascinating. Whether it be the New York Stock Exchange Composite Index or the S&P500 index, they are one giant melting pot of stocks. Because they are a melting pot, they tend to move and react much slower than any individual stock would. This would seem to be an obvious point, … Read more
The market has been on a tear lately, but now we are coming into the seasonal months that have been traditionally somewhat lackluster in terms of upside. The market is consolidating now and may continue to consolidate sideways, however there are signs that the market could take another option which is the more bearish sell … Read more
The Russell 2000 ETF IWM could be sending a near term signal out that it eventually wants to break the 3/6/2012 swing low and head into a deeper correction. The market in general appears to be in a near term consolidation phase after the recent relentless huge run up the last several months. There are … Read more
Authors Note: This was originally posted on 13 January 2012 and is being included here to update the BOT archives. Best Online Trades did another cup with handle pattern scan several days ago around January 10th, 2012 and SMSI came up in the scan. SMSI is Smith Micro Software. By first appearances SMSI looks like … Read more
Natural Gas Futures appear to be diving into a death spiral from a technical analysis stand point. There is no cup and handle pattern on natural gas futures but one cannot help notice what could be a double bottom formation coming by the end of this month. If natural gas is still in a bull … Read more