Archive for the ‘Chart School’ Category

RTT browsing latest..

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rtt-browsing-latestPlease review a collection of WWW browsing results.

Date Found: Friday, 03 July 2015, 07:15:03 PM

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Comment: Alasdair Macleod views on Greece and China. Excellent! youtu.be/62lucEzzZMk

Date Found: Tuesday, 07 July 2015, 02:39:22 PM

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Comment: POST GREECE ‘NO’ vote some bonds are being re priced for true risk. Massive ouch!

Date Found: Tuesday, 07 July 2015, 07:55:35 PM

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Comment: Clearly, the current rate of change is in extreme territory and is exceeded only by three other market up-moves: the roaring bull market of twenties leading into the Great Depression, the bull market of the fifties and the technology boom. Further, the trajectory of the up-move is similar to that of the market leading into the highs of 1929 and the highs in 1983. We have had a market on potent steroids

Date Found: Wednesday, 08 July 2015, 01:31:03 AM

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Comment: Karl Denninger, Debt Going to Explode in our Face youtu.be/14L8rBuv26I

Date Found: Thursday, 09 July 2015, 03:09:52 PM

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Comment: In the past 40 years, we’ve never seen the Fed Funds Rate and the 1-Year Treasury Yield effectively at zero for such an extended time, and the National Financial Conditions Index moving decisively higher. RTT: Business conditions down, interest rates at ZERO, all the FED has is QE for the rich.

Date Found: Thursday, 09 July 2015, 03:43:53 PM

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Comment: Who can contain this beast. Italy and Spain 10 yr bond rate jump.

Date Found: Friday, 10 July 2015, 12:45:10 AM

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Comment: 10 Year Treasuries, interesting

Date Found: Friday, 10 July 2015, 05:26:06 AM

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Three RTT Indicators

Courtesy of Read the Ticker.


three-rtt-indicatorsreadtheticker.com is primarily a Richard Wyckoff logic site, however through our research into Wyckoff logic the three indicators below make us very lazy in applying Richard Wyckoff logic.Why? Because if these indicators look handsome together then it most likely the Wyckoff logic is working very well.

These three indicators are NOT a trading system, but they do help with finding excellent well support accumulated stocks that show Mr Market is supporting them. Of course when indicators look ugly they will show stocks in a breakdown, thus less support by Mr Market.

RTT Steps

If the large market plays are accumulating the stock then they will control the range of BID and ASK and not let the stock get to volatile. On down swings they will halt the sell off by adding more demand, and on spikes up they well add supply to slow the advance so that can accumulate more stock float, and when the stock does advance it will do so in a very controlled tight range manner.

Stocks that have a good RTT Steps profile can be found via RTT Swing Scanner (PnF version)

RTTTrendPowerOBV

Volume weighted momentum oscillator. Buy at -15 is best, Zero Ok, +15 if stock is very strong but with care. Very good health trend indicator.

Stocks that have a good RTTTrendPowerOBV can be found via RTT Swing Scanner (both versions).

RTTOBV (Flat EMA 30 to 50)

Supports the RTTTrendPowerOBV. This tool is strongly influenced how price weighted by volume finishes with the close near either the high or low of the day. If close is high on the bar with good volume indicator moves up more so, if close low on the bar with good volume the indicator moves down more so. A good bullish market has more higher closes with good volume than not. That is healthy.A very weak market has lots of low closes on heavy volume. That is not health.

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Three indicators

Video on the subject

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool
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The Rally is Rotting from Within

Courtesy of Joshua M. Brown

Bank of America Merrill Lynch’s ace technician Stephen Suttmeier is out with his big monthly chart book this weekend and he leads off with a pair worthy of our attention.

The number of S&P 500 52-week lows that have piled up here at the midpoint of 2015 is not a good thing. The market has been able to shrug off lots of internal breadth problems over the last few years, but this could be a big enough problem to do permanent damage to the advance. The major average has now been stalling for over half a year while the constituent stocks have been dropping to new year-lows one by one.

The tally now stands at 42 and counting. It’s not easy to make a meaningful new high in the index when 10% of the companies included are dropping precipitously.

Suttmeier notes later on that a lot of the weakness is concentrated in energy, materials and industrials – which is understandable given the commodities / emerging markets picture this days. On the side of the bulls is the fact that financials are building in strength relative to the overall S&P 500.

The 2011 comparison is an interesting one…

Chart 1: Expansion in 52-week lows is big breadth concern for the S&P 500 The expansion in the number of S&P 500 stocks hitting new 52-week lows as the S&P 500 has traded within its range from late February is a warning from market breadth and suggests that 2120-2135 resistance should hold. Key support for the S&P 500 remains 2040, but diminishing breadth is a risk for this support.

Screen Shot 2015-07-26 at 7.33.28 PM

Chart 2: This increase in new 52-week lows is similar to summer 2011 The mid 2015 build-up of new 52-week lows within the S&P 500 is similar to the mid-2011 increase in new 52-week lows. The 2011 build-up in new 52-week lows preceded a breakdown from a top in the S&P 500 and a peak to trough decline of 19.4% on a daily closing basis (21.6% on an intra-day basis) into October 2011. Difference is that over 40 stocks in the S&P 500 have hit new 52-week lows now vs. under 20 prior to the August 2011 S&P 500 breakdown, meaning that the setup might be more bearish


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Markets Remain Near and Above, Yesterday’s Highs

Courtesy of Declan.

Tech indices finished strong after they overcame the opening half hour of selling. The Fed statement was greeted favorably, although market breadth is not looking pretty. The Nasdaq still has a distance to travel to make back all of its losses, but has done well to hold up against Semiconductor weakness.





The Semiconductor Index is struggling to make inroads against past losses as the Nasdaq and Nasdaq 100 push respectable gains. I find it hard to see how this scenario can continue, but given the dominance of Google, Apple and Microsoft in the weightings, it’s easy to see how tech indices have diverged from Semis.




The S&P wasn’t able to take out yesterday’s high, but did enough to recover the morning loss. Tomorrow offers a chance to push a challenge of 2,132.




The Russell 2000 is right on former support, turned resistance. Shorts have their pick for tomorrow.




Markets need an air clearing storm of selling to reset the bull market counter. Market breadth suggests it’s coming soon, but price action continues to defy. Until then, ride the winners and don’t be afraid to take profits.



You’ve now read my opinion, next read Douglas’ and Jani’s.







Stock Index – China vs USA

Courtesy of Read the Ticker.


stock-index--china-vs-usaCorrelation is not causation. However when trillions are wiped out in the Chinese stock market sell off one wonders if it has international effects.Some would worry a little.



Leverage in markets is a funny thing, losses elsewhere tend to bring losses closer to home. The SSEC has fallen 50% rather quickly and the Chinese Govt is threatening BUYERS that the cant sell. Question: Who wants to put new money into a market when you get your name put into a Govt black book when you want to sell? No one who is sane! It takes NEW money to get NEW highs. So unless the POBC is going to provide all the NEW money then the SSEC is very unlikely to do well, of course stranger things have happened. ha!





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SSEC




Other market warnings have been posted by readtheticker.com blog: Market internals stink, NYSE margin divergence to price, Handsome gains in NYSE index may be over



NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net



Investing Quote…



..” If you cannot make money out of the leading active issues, you are not going to make money out of the stock market as a whole”..



Jesse Livermore Trading Rule





…”The four most dangerous words in investing are ‘This time it’s different’ “…



John Templeton





..“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”..



Bernard Baruch





..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..



Bernard Baruch





..”it is better to have few stocks and to watch them carefully”…



Bernard Burach











Second Day of Gains

Courtesy of Declan.

Another round of buying swept through Large Cap indices, but other indices didn’t enjoy the same level of interest.



The S&P had the best of it. Since the middle of July it has enjoyed a strong advance relative to Small Caps and Technology indices, but it may be time for it to revert to mean. Technicals are a little scrappy, but are holding to the bearish side, but one more day of gains could swing it back in bulls favour.





The Nasdaq banked a small gain, but it’s up against the big red candlestick from last week. The ‘bull trap’ is still in play. Technicals are mixed here too.




The rally in Small Caps has come up against former trendline support turned resistance. Technicals are firmly in the bear camp, giving shorts an opportunity to attack the bounce.




The Nasdaq 100 bounced of the former channel trendline, building off the ‘bear trap’, but the last three days have seen very narrow trading. One sell off could erase it all and drop it back into trouble, but bulls hold the advantage.




Eyes will be on the Semiconductor Index. If bulls are going to build on weak strength in the Nasdaq and Nasdaq 100, then the Semiconductor Index will need to rally off lows.




For tomorrow, things get a little more tricky. The S&P is back inside the upper range of earlier congestion while the Russell 2000 is up against former support turned resistance. Tech indices are caught in the middle and could go either way.



You’ve now read my opinion, next read Douglas’ and Jani’s.







How to Use the Stochastic Oscillator

A lesson from EWI's Jeffrey Kennedy

The stochastic oscillator is a technical tool that was popularized by George Lane. It is a momentum indicator based on the idea that in an uptrending market, the close tends to be near the high of the price bar, and in a downtrending market the close tends to be near the low of the price bar.

Watch an 11-minute lesson from Jeffrey Kennedy's Trader's Classroom to learn to use this popular indicator in your analysis and trading.

 

3 Lessons: Learn to Spot Trade Setups on Your Charts

In these three video lessons, Jeffrey Kennedy shows you how to look for trading opportunities in your charts. Kennedy, instructor for Elliott Wave International's popular Trader's Classroom service, reviews the 5 core Elliott wave patterns and then shows you how to combine technical methods to create a compelling forecast.

Get your free lessons now >>

This article was syndicated by Elliott Wave International and was originally published under the headline How to Use the Stochastic Oscillator





Relief Rally?

Courtesy of Declan.

Big gains and a strong reversal in the Russell 2000 puts a potential bottom in play.  The Russell 2000 started the day below the 200-day MA, but then rallied to claim a spike low and a close above this key moving average. Small Caps are a key driver in trend cycles. The ‘bull trap’ from June is still dominant. and a push above 1,280 looks a tall order. but reversing the breakdown of the rising trendline at 1,240 is a different proposition. If it fails at this, then a swift return below the 200-day MA, and then some, opens up. And the long awaited intermediate term decline begins.





The S&P gained over 1% with a second bounce off the 200-day MA. But, it’s a bounce which has come a little soon given the last test of the 200-day MA was earlier in the month. Supply kicks in on a move above 2,100, and the 50-day MA is also lurking around this price level to offer resistance. Technicals are net bearish. My hunch suggests the sellers are going to regain control, but bulls will be looking to press today’s advantage.




The Nasdaq closed the gap from Monday, but there is more work for bulls to do. The ‘bull trap’ above 5,200 is dominant, but today’ buying amounted to a successful defense of converged 20-day and 50-day MAs. However, a test of the 200-day MA is long overdue.




The Semiconductor Index had a tricky day. It gained against recent day’s losses, but it hasn’t really offered the makings of  strong bottom, at least not yet. This will make a recovery in the Nasdaq and Nasdaq 100 more difficult.




For tomorrow, assuming no shocks premarket, bulls have a chance to continue with the work they started today. Shorts covering will drive the early action, but as highs are approached, fresh buyers will emerge.



You’ve now read my opinion, next read Douglas’ and Jani’s.







Market internals stink

Courtesy of Read the Ticker.


market-internals-stinkThe number of stocks above or below the SMA 200 moving average is a great tool to confirm distribution.



Google, FaceBook and NetFlix scream higher while more boring and not well know companies sink below the SMA 200. Mr Market is doing a three card monty trick to hide the expected market direction. Can you pick which cup the bean is under?



The indicator below also confirms poor NYSE advance and decline data.



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SPY




NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net



Investing Quote…



…”I was brutal in self-analysis. He told his sons his conclusions: “Successful trading is always an emotional battle for the speculator, not an intelligent battle.”…He knew that his biggest enemy was his own emotions.”…



Jesse Livermore





..“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”..



Bernard Baruch





In the short run, the market is a voting machine, but in the long run it is a weighing machine.



Benjamin Graham





…“To me, the ‘tape’ is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”…



Martin Zweig





..”Until an hour before the Devil fell, God thought him beautiful in Heaven”..



Arthur Miller, “The Crucible”

 [Contrarian Investing]

















Fifth Day of Selling

Courtesy of Declan.

Sellers in the S&P made it five days of downside in a row. On this last day it closed near the day’s lows, but also on its 200-day MA. If there was reason for a bounce, then tomorrow could be the day.  Technicals are all net negative.





The Dow took the selling harder. It undercut the July swing low having earlier lost its 200-day MA. Next up is the February swing low.




Small Caps finished at its 200-day MA, after it lost trendline support on Friday. Value players may get a bite of the cherry tomorrow as the index makes it first test of the 200-day MA since February.




The Nasdaq remains caught inside the range. It suffered a fairly clean slice of both 20-day and 50-day MAs, but the nearest support appears to be the July swing low, then the 200-day MA. If markets rally tomorrow, then look for a push to close today’s breakdown gap.




Tomorrow looks to be set nicely for bulls, even if the broader picture appears to favor an intermediate term correction. Indices trading at 200-day MAs are likely to offer the best opportunity, with the Russell 2000 perhaps the best of all.



You’ve now read my opinion, next read Douglas’ and Jani’s.







 
 
 

Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Pimco Clients Pulled $2.5 Billion From Total Return Fund in July (Bloomberg)

Investors pulled $2.5 billion from Pacific Investment Management Co.s flagship fund in July, the 27th consecutive month of outflows from what used to be the worlds largest mutual fund.

Etsy is Crashing (Business Insider)

Etsy reported a quarterly loss on Tuesday evening, and the stock is getting crushed.

In after-hours trading, the stock fell by more than 11% after closing down 6% at $19.23 a share.

The online marketplace for craft m...



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ValueWalk

The Geopolitics Of The Syria's Civil War

By Guest Post. Originally published at ValueWalk.

Editor's Note: With the war in Syria showing no signs of abating, we republish our Jan. 21, 2014, weekly explaining the complex geopolitics of the conflict.

International diplomats will gather Jan. 22 in the Swiss town of Montreux to hammer out a settlement designed to end Syria's three-year civil war. The conference, however, will be far removed from the reality on the Syrian battleground. Only days before the conference was scheduled to begin, a controversy threatened to engulf the proceedings after the United Nations invited Iran to participate, and Syrian rebel representatives successfully pushed for the offer to be rescinded. The inability to agree upon even who would be attending the negotiations is an inauspicious sign for a diplomatic effort that was never likely to prove very fruitful.

There are good reasons for ...



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Zero Hedge

They Live, We Sleep: A Dictatorship Disguised As A Democracy

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by John Whitehead via The Rutherford Institute,

“You see them on the street. You watch them on TV. You might even vote for one this fall. You think they’re people just like you. You're wrong. Dead wrong.”—They Live

We’re living in two worlds, you and I.

There’s the world we see (or are made to see) and then there’s the one we sense (and occasionally catch a glimpse of), the latter of which is a far cry from ...



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Phil's Favorites

Capital Controls Destroy Greek Small Businesses; Bank Shares Plunge Again; Record Contraction

Courtesy of Mish.

Record Manufacturing Contraction

Greece may as well have gone to hell in a handbasket. Carnage is everywhere one looks, but let's start with the Markit Greece PMI report that shows record manufacturing contraction.
July saw factory production in Greece contract sharply amid an unprecedented drop in new orders and difficulties in purchasing raw materials. The headline seasonally adjusted Markit Greece Manufacturing Purchasing Managers’ Index® registered 30.2, well below the neutral 50.0 mark and its lowest ever reading.

Record contractions were registered for almost all variables monitored by the survey, including output, new orders, employment and stocks. There was also a record lengthening in supplie...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Kimble Charting Solutions

Apple breaking short-term support as Nasdaq at 2000 highs

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

The left chart looks at the Nasdaq Composite index over the past 20-years.

Currently the index is back at the same price as it was back at the Dot Com highs. With the trend being up (above support and moving averages) the NAS, is attempting a “continuation of trend breakout” at this time. Should the index achieve a breakout above the 2000 levels, it would be viewed as a bullish continuation event.

The right chart looks at Apple over the past 5-years. For the past 6-months, Apple has struggled to get above the $133 level. From a very short-term perspective a short-term support line could be giving way, of a bearish r...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker.

Please review a collection of WWW browsing results.



Date Found: Friday, 03 July 2015, 07:15:03 PM

Click for popup. Clear your browser cache if image is not showing.
Comment: Alasdair Macleod views on Greece and China. Excellent! youtu.be/62lucEzzZMk



Date Found: Tuesday, 07 July 2015, 02:39:22 PM

Click for popup. Clear your browser cache if image is not showing.
Comment: POST GREECE 'NO' vote some bonds are being re priced for true risk. Massive ouch!



Date Found: Tuesday, 07 July 2015, 07:55:35 PM

Click for popup. Clear your browser cache ...



more from Chart School

OpTrader

Swing trading portfolio - week of August 3rd, 2015

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Sabrient

Sector Detector: Lackluster earnings reports put eager bulls back into waiting mode

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Sabrient Systems and Gradient Analytics

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, including a sector rotation strategy using ETFs and an enhanced version using top-ranked stocks from the top-ranked sectors.

Corporate earnings reports have been mixed at best, interspersed with the occasional spectacular report -- primarily from mega-caps like Google (GOOGL), Facebook (FB), or Amazon (AMZN). Some of the bul...



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Digital Currencies

Gold Spikes Back Above $1100, Bitcoin Jumps

Courtesy of ZeroHedge. View original post here.

Gold is jumping after the overnight double flash-crash...testing back towards $1100...

Bitcoin is back up to pre-"Greece is Fixed" levels...

Charts: Bloomberg and Bitcoinwisdom

...

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Pharmboy

Baxter's Spinoff

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



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Promotions

Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene

 

The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>