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Monthly Archives: February 2013
The 3-Bar Reversal Pattern in SPY and Why You Should Not Pay Too Much Attention to The Closing Price Level
Time is money in the financial world and this is one reason the title was descriptive and long so those who know this stuff or are not interested in it can move to the next thing. This post considers the pattern of … Continue reading
Price Action Lab Alert for Wednesday, February 27, 2013
The format of the alerts has changed to save time. These alerts are for users of Price Action Lab but demo users of the program can also verify them. Price Action Lab produces the same output each time it encounters the same conditions and thus … Continue reading
Naive Speculators Were Hit Hard
Speculators who rely on naive analysis of price action were hit hard yesterday. In the case of the DIA, HFT algorithms got the speculators both sides. In the case of TLT shorts were shaken out. This is how professionals make money … Continue reading
Posted in ETF Analysis, Risk Management, Technical Analysis
Tagged algo trading, expectation, HFT, naive speculators
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Price Action Lab Weekly Scan for February 25, 2013
A scan of weekly data of Dow-30 stocks produced a long signal for WMT for 3% profit target and stop-loss. The pattern that generated the signal has been profitable in 19 of the 30 stocks in the index.
Google Stock Up 5 Weeks in a Row
Shorting GOOG after a 5-week winning streak has not been a profitable strategy historically due to the strong upward bias of the stock. Although during the last 3 times a similar winning streak occurred there was a short-term correction, in 2009 … Continue reading
Posted in Market Statistics, Technical Analysis
Tagged 5-week winning streak, GOOG, Winning Streak Indicator, WSI
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Analysis of the Double Inside Day Pattern in GLD
The double inside day in the daily GLD chart shows short-term indecision from the part of market participants. This pattern is analyzed here for a significant directional bias.
Posted in ETF Analysis, Price Action Lab Alerts, Price Action Lab Patterns
Tagged double inside day
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What Currency War? Give Me a Break
I have seen several articles recently about a currency war that is taking place. It sounds like some are ignorant of the past. The last 3 years have been a stable period in the forex market. Just take a look at the … Continue reading
Posted in Economic Analysis, Technical Analysis
Tagged currency devaluation, Dollar Index
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What You Can Do With Price Action Lab
This post outlines the main functions of Price Action Lab (PAL). There are many ways of using the PAL software and here an account of the main capabilities of the software is presented. Links to some useful articles about trading are also included.
Several Months of Sideways Volatile Action is What May Lie Ahead
The market has been moving sideways for the past few weeks. Action in DIA has been confined inside a 1.5% flat channel for the past 17 days, something that has never occurred before. Confinment inside a 2% channel has occured twice in 2005 and … Continue reading
Posted in ETF Analysis, Technical Analysis
Tagged flat channel, sideways action, trend following
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Gold is Oversold But Selling May Continue After a Short Pause
After a year and a half of sideways action and a bombardment with promises of new highs by analysts of all kinds, gold investors are frustrated and are selling. Especially annoying to them is the fact that SPY is up 4.9% while GLD is down … Continue reading