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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Paris

Paris

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. May 23 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Mon. May 28 ~ U.S. markets closed for Memorial Day Holiday
* Wed. May 30 @ 2:00 pm ET ~ Beige Book Report
* Fri. June 1 @ 8:30 am ET ~ Employment Data
* Tues. June 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. June 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Tues. July 3 ~ U.S. markets close early at 1:00 pm ET
* Wed. July 4 ~ U.S. markets closed for Independence Day Holiday
* Wed. Aug. 1 @ 2:00 pm ET ~ FOMC Announcement
* Mon. Sept. 3 ~ U.S. markets closed for Labour Day Holiday
*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* JCPOA - Will President Trump recertify the JCPOA on May 12?...stay tuned...May 8 the answer is "No"...US pariticipation in the deal
is scrapped...new sanctions coming for Iran and, possibly, for nations supporting Iran.

Thursday, August 18, 2011

Downtrend Gap Continuations?

Today's gap down on quite a few ETFs could become a "Gap Continuation" from their recent declines which began in July...if so, the following ETFs that gapped down today, could fall the same amount on this second leg down that they fell on their first leg down. It remains to be seen as to whether this will play out or not...but this is something I'll keep an eye on over the next few days.





Further to my post yesterday, here is how Day 2 of this 3-Day chart of EEM ended today...it broke below the former neckline of the former H&S pattern (41.66)...will see how it closes out tomorrow and whether it continues to form more weakness under this price level.


Further to this morning's post on the NKD, here is how it closed on the Daily chart today...it's sitting on the downtrend line from the "pink diamond" pattern that I mentioned in my post...another index I'll be watching over the next few days to see whether weakness continues to build, particularly if price falls below this trendline again.


Furthermore, I'll be watching the price action on the 4-hour charts below of the YM, ES, NQ & TF...in terms of relative weakness, the NQ is leading, followed by the TF, ES, and YM. An escalating move below the -2 deviation levels on both the shorter and the longer regression channels could confirm my gap continuation theory/scenario on the ETFs above.


Finally, I'll continue to watch these instruments on the Daily chartgrid below and will look for continued market cohesiveness in terms of weakness in equities (in particular, financials), commodities, Oil, EUR/USD, TNX & TYX vs. strength in Gold, the US$ and the VIXs (as referred to in my post on August 15).