Broken Support Turns First Resistance for German DAX
After forming a rising wedge in October, the German DAX reversed in the key retracement zone and broke support with a sharp decline below 5700 the last few days. These are...
A Hanging Man and a Harami for XLK
The Technology SPDR (XLK) is hitting resistance from the late October high with a Hanging Man last week and a Harami this week. Both candlesticks are bearish reversal patterns. The Hanging...
Resistance Turns Support Turns Resistance Again for the German DAX
Traditional technical analysis teaches us that broken resistance turns support and broken support turns resistance. This concept is alive and well on the German DAX Index ($DAX) chart. Using the Auto...
DIA Solidifies Resistance with Two Gaps
For the second time in three weeks, the Dow Industrials SPDR (DIA) moved above 121 and then gapped down. These two gaps indicate that DIA has stiff resistance in the 122...
Broken Resistance Turns Support for Regional Bank SPDR
The Regional Bank SPDR (KRE) broke resistance with the October surge and broken resistance turned into support. This is a basic tenet of technical analysis. The throwback to broken resistance held...
A Failed Breakout and Island Reversal for MDY
With a gap down and sharp decline the last two days, the S&P MidCap 400 SPDR (MDY) failed to hold the resistance breakouts around 160. Also notice that the ETF formed an island reversal, Last Thursday's gap was countered by today's gap to create a three-day price island. Click this chart for a live image...
Oil Service HOLDRS Runs into Resistance after Gap
The Oil Service HOLDRS (OIH) surged over 30% in October and hit resistance in the 137 area. Resistance here stems from broken support and the August highs. This level also marks a 61.80% retracement of the prior decline and the ETF is quite overbought after the October run. Click this chart for a live image....
Oil Service HOLDRS Runs into Resistance after Gap
The Oil Service HOLDRS (OIH) surged over 30% in October and hit resistance in the 137 area. Resistance here stems from broken support and the August highs. This level also marks a 61.80% retracement of the prior decline and the ETF is quite overbought after the October run. Click this chart for a live image....
Regional Bank SPDR Challenges Resistance with Big Move
A day after failing at resistance just a day ago, the Regional Bank SPDR (KRE) is right back challenging the late summer highs. KRE dropped below 21 with a sharp decline...
Caterpillar Forms Bearish Engulfing at Key Retracement
Caterpillar came across the
Predefined Scans page
with a Bearish Engulfing pattern. This...
Dow Industrials SPDR Moves into the Red Cloud
With a big surge the last 5-6 days, the Dow Industrials SPDR (DIA) moved into the red cloud. This chart shows DIA breaking below the cloud in early August. This cloud...
Exxon Mobil Breaks Above Resistance
After at least four attempts, Exxon Mobil (XOM) finally broke above 75 and exceeded resistance. This level held from mid August until today. The breakout zone around 74-75 becomes first support....
