A Candlestick “Hanging Man” bar formed in the Dow Industrials on January 8, 2010.  The
Hanging Man” is bearish, but requires a lower Closing the next day for confirmation.
Our Indicators, not shown on this chart, contain numerous other bearish signals.
We have been awaiting the top end of this Great Rally of 2009 for many weeks.  The [...]

October 16, 2009 – Traders on the USA Exchanges pushed, shoved, grunted, and shoved some more, but it didn’t work. They wanted in the worst way to make the Dow Industrials close above 10000, all to no avail, as the Dow closed at just below 9996 today.
So we’re still beneath that psychological barrier. [...]

How is the price of a stock or of an Index arrived at?
Imagine a tug-of-war. Not your ordinary run-of-the-mill tug-of-war, but a supersized one.
We’ll start with two ropes, not just one. Tie the ends of the ropes together, resulting, of course, in a knot. Set the ropes on the ground. Now [...]

Whistling Past the Graveyard
Mr. Bernanke and his confreres in the Central Bank business have convinced themselves that they have saved the financial systems of the world from collapse.  They have done no such thing.  First of all, they spoke much too soon; secondly, they’re mistaken.
For all of their wisdom and for all of Mr. Bernanke’s [...]

Dynamic price moves consist of five waves, three of which are in the direction of the operative underlying trend and two of which are corrections, in the opposite direction.  The result is an up-down-up-down-up motion.  At the end of the fifth wave, prices will always be higher than they were at the beginning of the [...]

Candlestick Waterfall
Along with all other major Indexes, the Russell 2000 declined today in a loss of 14.01 points (2.5%).  The sheerness of the drop, as displayed by a series of black Candlesticks cascading down in “Waterfall” fashion, which catches the eye and the imagination.
Quite apart from the descent, we note the gaps, even in the [...]

Candlestick “Shooting Stars” fill the skies tonight
The Great Rally of 2009 appears, possibly or probably or finally, to be running out of steam.
Bearish Candlestick “Shooting Stars” are all around us tonight:  in the S&P 100 (please see chart), the S&P 500 and 600, the Russell 2000, the NASDAQ Composite, the Dow Transports, and – last [...]

Prices were ignited by a “Hammer” pattern the day after last Christmas, but were brought to a halt by a “Bearish Engulfing” pattern in June – and down they go.
The Low at Christmastime was the bottom of a third wave down which began last September. From that Christmas low, prices have advanced in an [...]

A Bullish “Hammer” Candlestick pattern in February 2009 marked the beginning of an a-b-c upward correction in an underlying bear market in Crude Oil. That was the end-point of a “third wave down” from the highs of last summer, and is marked “3” on the accompanying Weekly chart.
Since that time, Crude has completed the [...]

The S&P SmallCaps 600 shows the same bearish Head & Shoulders Top as the Dow Industrials and the S&P 500.
Please see the accompanying chart of the 600.  Note, please, that the Left Shoulder, the Head, and the Right Shoulder form a very symmetrical pattern – not that this is a requirement.
The slant of the Neckline [...]