Silver Attempting To Break Multi-Year Support
I'm a huge fan of frequently looking at very long-term charts. With that in mind, today I want to take a look at Silver over the past 45-years, on a monthly basis. Silver looks to have Double Topped back in 2011, as it continues to work itself lowe since then. Silver...
Nasdaq Creates Pattern That Looks Just Like 2000 Highs! Will Results Be Different?
Is the Nasdaq creating a look-alike pattern similar to the 2000 highs? Last month it did. Will the results be the same? Way too soon to tell! This chart looks at the Nasdaq Composite Index over the past 25-years on a monthly basis. The index created a monthly bearish...
Are Treasury Bonds Forming Largest Bearish Reversal Ever?
The financial markets are panicking and it's producing some huge swings across asset classes. One asset that may be producing a monster reversal is treasury bonds (TLT). The flight to safe havens produced a sharp rise in the 20+ Year US Treasury Bond ETF (TLT). But...
Friday The 13th A Day For Stocks? Another March Low Forming Here?
Will Friday the 13th become a "Lucky Day" for stocks? Bulls have their fingers crossed it will. This chart looks at the S&P 500 and the VIX on a weekly basis over the past 20-years. For some reason, the S&P created important lows on March the 13th in 2003 and...
Dow Jones Testing 2018 Lows, Support Needs To Hold Here!!!
The Dow Jones Industrial Index has remained inside of this rising channel for the majority of the time since the late 1940s. It kissed the underside of the top of this channel in January at (1), where it created a large bearish reversal pattern. The weakness of late...
Discretionary/Staples Indicator Looking Similar To 2007 Highs!
The Corona Virus seems to have people running to the stores to buy large amounts of certain staples (Toliet Paper, Paper Towels, Water). The chart looks at the Discretionary/Staples (XLY/XLP) ratio over the past 20-years. When investors started selling Discretionary...
Crude Oil Crashes as Fear Index Spikes: Bullish Reversal Pattern Forming At Support?
The coronavirus has caused severe economic uncertainty, as economists are beginning to weigh its effect on economic growth. This has brought heightened levels of fear into the financial markets, sending both stocks and economically sensitive commodities like Crude Oil...
Stock Bulls Most Dreaded Pattern In Decades Took Place 40-Days Ago?
Bearish reversal patterns are always a sign of caution. But when they happen on broader time frames, like “weekly” and “monthly” candles, they can be of a more serious nature. In this case, the Dow Jones Industrial Average put in a bearish “monthly” reversal pattern...
9-Year Bull Markets Could End At These Price Points, Says Joe Friday
By now you are most likely aware that the S&P 500 just experienced its quickest 10% decline in its history. Did this decline break long-term rising channels? Check out the 3-pack above. This 3-pack takes a monthly look at the Bank Index (BKX), JP Morgan (JPM) and...
Precious Metals Receives Strong Bullish Message On A King$ Breakdown Here!
US Dollar Index versus Euro Currency Performance Chart The forex market is the largest in the world. So it goes without saying that what happens in the currency market has a big effect on asset prices. One asset class that plays off the currency market is commodities....