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Some people enjoy walking along the beach with a metal detector in hand, in the hope of finding buried treasure. Most of the time, what turns up is a rusted piece of metal; sometimes the searcher gets lucky and finds a coin. Rarely does a gold or silver coin from a sunken galleon make its [...]  Image by Getty Images via Daylife As of now (2 PM, August 5) the Russell 2000 is fading faster than the Dow Industrials and the S&P 500. We have an outside-down “Bearish Engulfing” pattern in the Russell 2000. We see the same thing in the NASDAQ Composite and NASDAQ 100. It is nearly the [...] Image via Wikipedia The “Hanging Man” Candlestick pattern is a signal of a possible reversal of trend to the downside. It requires a lower close the next day for confirmation. We did have a Hanging Man today in the Dow Industrials, in the S&P 500, and in several other Indexes. Apart from that, our [...] Image by Getty Images via Daylife The Candlesticks, as re-interpreted by our “Candelaabra” technical analysis system, correctly identified the upturn in Crude Oil prices on July 15, 2009. Prices reached a high of 68.22 (the opening price) this morning, which was almost exactly the 61.8% retracement of its previous decline; and since opening, prices [...] |
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