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I am seeing a lot of Triangles forming in the markets, some bullish by nature and others bearish. Lets take a look and review the past week and look forward to a few ideas too...
I posted this WKLY NASDAQ in a mid-week report on MAY 6. Could it recover?
Amazing. It recovered by week end.
Lets look at some other triangles and wedges...
Read More6:30 a.m. Eastern time : I collected most of the Charts for todays report last night. I thought to myself that like I wrote in the weekend report, it looks like we are seeing some Big Picture changes lately. I awoke this morning to Futures down quite a bit and that makes the charts you are bout to see all the more interesting. We all know that when you wake up to Futures down, the day can reverse and still close green and visa versa, but take a look at where we are , and you'll see that things look quite interesting.
I like to start with the previous days chart, so here is the Nasdaq from Tuesday. Breaking down?
SO what happened Wednesday? Oh yes, it wasnt a FED WEDNESDAY, but The Fed did say something in an interview that shook the markets a bit more...
Read MoreAs mentioned recently in a prior report, The Markets seem to breath in and out with human interaction. They can Ebb & Flow like the ocean, and some pullbacks can be very healthy , giving the upward move more energy to break above resistance. The picture above shows the idea of a pullback that has done its job. SO in this report I wanted to discuss certain pullbacks that can be buying opportunities, and of course there are some that aren't. Lets do a market review...
NASDAQ- This was my chart for yesterday, I mentioned that a pullback usually occurred with the little move that we saw on Monday. It too could be a healthy little pullback.
So we did dip yesterday, lets take a look...
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