The NASDAQ 100 Index posted a long-term Top on April 26, 2010.  This marked the end of the Great Rally of 2009.  Following that date, the Index executed a five-wave downmove (five waves indicating the direction of the operative trend) which was followed by a typical three-wave (A-B-C) partial retracement of the downmove.  The top of the “C” [...]

Gold posted a new all-time High on June 21, 2010, a week ago today, before falling off so as to close about $34 lower on the same day. It then rose last week and challenged the 78.6% retracement of its falloff on Friday and again this morning, but has been forcefully thrown back to about $1240 [...]

CandleWave and Hawkeye Traders Present Trading From Start to Finish – THIS EVENING! This is a Repeat Announcement of a Series of FREE audience-participatory Webinars which are being presented every week on Wednesday evenings through the end of May, from 8:00 PM to 9:00 PM Eastern Daylight Time. THE NEXT WEBINAR WILL BE PRESENTED THIS [...]

Here is a beautiful example of the power of typical Retracement Levels to stop price advances in their tracks, and then to send them in the other direction.  The Candlestick presentation makes the example exceptionally clear. We often see retracements in countertrend moves stopping at one of several typical levels – 78.6% of the initial [...]

You know that I pay a lot of attention to Reversals of Trend and to Retracements.  Reversals are easy enough to understand and to see on a chart; they occur when prices which have been trending either up or down suddenly stop going in that direction and do a fast turnaround and go in the [...]

The price of Gold marked its all-time High of $1228 per ounce on December 3, 2009.  Since that time, Gold fell sharply, beginning on December 4, as depicted by a tall black candlestick bar for that day.  From a “Wave 1 Down” Low on December 22, Gold retraced just over 50% of its initial decline, [...]

After a breathtaking decline from the heights near $1230 per ounce, an upside reversal in Gold is due.  The first chart shows two clear Candlestick Upside Reversal Warning Bars – a High-Wave Spinning Top followed by a Hammer, both of which appeared at the bottom of a clear downtrend.  The small white Candle represents overnight [...]

The Candlestick “Hammer” is a bullish Reversal pattern.  On November 27, 2009, a classic “Hammer” pattern emerged in the Dollar/Yen pair.  We promptly issued a notice to our Subscribers, wherein we predicted a substantial rise in the Dollar. The proof is in the pudding.  Or is it “in the eating?” The attached chart shows the [...]

Candlestick “Hanging Man” Plus Island Top Equals Price Decline The Candlestick “Hanging Man” pattern occurs at the top of a long price ascent.  It is marked by a price bar which has a small “real body” at the top of the period’s price range.  The pattern is considered to be bearish, but it requires a [...]

Bearish Candlestick Pattern in Russell 2000 Index Foretells Decline in Prices We have been waiting a long time for a top in the Great Rally of 2009, which represents neither a “recovery” nor a resumption of the old bull market.  Rather, it has been an upside correction of the bear market which began in October [...]