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Three Slightly Different Views of SPY

Wednesday, June 17, 2009 6:07 PM SP-500 SPY Short Candidates
Here are three separate charts of SPY constructed on three different intraday time frames -- an hourly chart, a 2-hour chart and a 4-hour chart. If you’re viewing an hourly chart, this simply means each vertical price bar represents one hour of trading.  Each chart has a price moving average of 20, 50 and 200 (all simple moving averages) in the price pane. Our Time Segmented Volume (TSV) indicator (along with a moving average) is plotted in the center pane and a Worden’s Stochastic in the bottom More...

Hourly Chart Analysis of GOOG and AAPL

Thursday, June 11, 2009 5:37 PM AAPL Short Candidates GOOG
I see a short-term negative character change taking place in both AAPL and GOOG. In the case of AAPL, I have made several comments to this effect in TeleChart Platinum chat over the past few days. This change of character appears most clearly on the hourly charts. These two hourly charts of GOOG and AAPL have a 20-hour, a 50-hour and a 200-hour simple moving average running through price. Although I have chosen not to display my volume-weighted MACD indicator in its own pane, I have color-coded More...

NTRS Appears Ready to Start a New Leg Down

Wednesday, May 20, 2009 4:59 PM Short Candidates NTRS
I highlighted short-sale, NTRS in TeleChart (Gold and Platinum) with my Worden Note of April 28 in which I wrote, “Heavy selling pressure appears to be taking hold in NTRS and I believe the stock presents an excellent short-sale opportunity at current levels.” NTRS recovered from its November lows to make it briefly back above its 200-day moving in March and April. The stock, however, has continued to deteriorate and is now likely on the cusp of entering into a significant leg down from here. My More...

Technology Sector May be Stumbling

Tuesday, March 31, 2009 12:27 PM Exchange Traded Funds XLK Short Candidates
  This 2-hour chart spans back to the beginning of February and has 20- and 50-bar moving averages running through price. The bottom pane contains my volume-weighted MACD. As in previous charting examples, the price bars are painted red when MACD is negative and green when the indicator is positive.     The bounce in XLK from the early March lows reflects the recent strength in the technology sector. However, this particular ETF now appears to be stumbling on the short-term, intraday charts. Mos More...

SRS is in Short-Term Rally Mode

Monday, March 16, 2009 3:23 PM SRS Exchange Traded Funds Buy Candidates
  With SPY looking tired, it is logical that SRS may move higher from here. This 15-min chart shows a base of several days now in place and strengthening technical indicators, i.e. TSV and MACD. Price moved back above its 50-bar moving average (orange line) early this morning and has held above it for the entire session. TSV really turned positive yesterday and has continued to hold pretty much above the zero-line. MACD turned positive several days ago and remains short-term bullish. More...

Minor Uptrend for SPY is Growing Fatigued

Monday, March 16, 2009 3:01 PM SPY Exchange Traded Funds
  SPY has moved several points higher since my post last week. Earlier today, SPY encountered some overhead resistance at its 200-hour moving average (orange line). Within the past hour we’ve seen price pull back and to a slight degree violate the lower confines of its minor uptrend channel. This is the first such violation since the minor uptrend began about a week ago. Although TSV and MACD remain positive they are showing some subtle, yet growing signs of fatigue on this 30-minute chart. It a More...

Minor Uptrend Remains Intact for SPY

Thursday, March 12, 2009 12:59 PM SPY Exchange Traded Funds Buy Candidates
  This 30-minute chart of SPY spans back about three weeks to February 23. I have drawn in some trend lines to illustrate the short-term upside reversal, which occurred on Tuesday’s open. SPY gapped sharply higher breaking through the downtrend line drawn from the Feb. 26 high. SPY is now in a minor uptrend which can be defined by my yellow trend lines. It is important for any pullbacks to hold at the lower uptrend line. TSV (center pane) crossed up through the zero-line at about the same time p More...

USO May be Rounding Out a Tradable Bottom

Friday, March 06, 2009 12:12 PM Exchange Traded Funds Buy Candidates USO
  USO is an Exchange Traded Fund I use to track the price of oil. USO may be rounding out a tradable bottom at these levels. I have applied my Volume Weighted MACD to this daily chart of USO. The MACD is displayed in the center pane. I have also colored my price bars green when the MACD is positive and red when the MACD is negative. Although USO has continued to slide lower, MACD suggests a progressively improving technical condition in recent months.Worden Stochastic also shows an encouraging p More...

DJ-30 Could Bounce from the Downtrend Line

Friday, March 06, 2009 11:31 AM DJ-30
  Here is a 3-Hour chart of the DJ-30 spanning back to mid-September. I have drawn a downtrend line connecting the October and November lows. As you can see, the DJ-30 is currently testing the downtrend line, which I believe will offer some very short-term support.The dots illustrating the various (short-term) upswings and downswings are generated from the Parabolic SAR indicator to match this specific (3-Hour) time frame. The indicator currently shows the DJ-30 to be in a downswing, but I expec More...

Financials (XLF) are Leading This Bounce

Tuesday, February 24, 2009 2:14 PM Exchange Traded Funds Buy Candidates XLF
  Yesterday afternoon in TeleChart Platinum chat I wrote, “XLF should move higher from here.”XLF actually moved lower into yesterday’s close, but is up nicely today and has potential for some follow-through on the upside. My hourly chart shows a constructive profile for MACD, TSV and Worden Stochastic. The volume-weighted MACD completed a positive crossover a couple of days ago (the start of the green price bars). TSV has been holding above its moving average over the past one to two days and no More...
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