"I Just Stepped Out for a Drink."

2D, 5m. - Feb. 27 - Session began with a Gap down followed by a feeble attempt to fill the Gap.  Market closed near session open and closed below the November Lows.
5D, 30m. - Feb. 27 - The "Bull Potato" was of very short duration (one of the shortest yet).  It was really of no positive value in trading the Potato to the upside.  A new Bear Potato is forming and is confirmed in the Hourly seen next.
10D, 60m. - Feb. 27 - Bear Potato confirmed on the Hourly chart (Gold Spot).  Technically we had a very short Bull Potato but this in reality is just a resumption of the Bear move to the downside.  Political and Economic news out of Washington has had mostly  a negative effect on the market.
6M, Daily - Feb. 27 - November Lows have been breached.  The market closed below the old lows.  It remains to be seen if the market can bounce back next week.  It could go lower looking for old support levels.  The situation certainly calls for caution as the week begins.

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Rhetoric, Platitudes, & a $4 Trillion Budget = "Obama Smashed Potatoes"

6M, Daily - Feb. 26 - Critical support level is just below current levels.  Bullish Railroad Tracks have not followed through largely because of P0lictical and Economics from Washington.
10D, 60m. - Feb. 26 - The newly formed Bull Potato is not dead but it is sorely wounded.
2D, 10m. - Feb. 26 - Gold Spot shows intraday Bear Potato formation.  Potatoes can be used intraday, weekly, monthly, etc.  They are valid for short term or long term trades.

Fibonacci Retracements

38% Support level Significant.  50% is Critical, 61% suggests reversal of trend.  For more information on Fibonacci go to the sidebar and click on the bust icon of Fibonacci.

"The Bull is Back but the Bear is Growling"

10D, Hourly - Feb. 25 - There is a new Bull Potato formation with the 10/30 MA Crossover on the Hourly.  At this stage it is timid but past experience has shown that its strength and momentum can grow.  The Fib's show the close near the 38% retracement level which is acceptable if it holds on Thursday.  Retreat below 50% would be a serious threat to the continuation of this move to the upside.
6M, Daily - Feb. 25 - The chart shows the important support line at the Nov. lows.  The Gold Spots also point out the "Double Bottoms / Railroad Tracks" that are often associated with reversals.  The parallel line demonstrate the range we have been in for the last 3 months.  If the market can recover over the Blue Line as  significant move up could be expected.  There is a lot of work to be done.

2D, 5m. - Feb. 25 - While there is evidence to support a new Bull Potato, there is turbulence and volatility.  At the same time there are indicators of a move to the upside.  Notice the "Higher Highs and Higher Lows" and the trend line.  Tomorrow is another day.  Do not slip on the peelings.

Fibonacci Retracements for Feb. 25th. SPY

2D, 10m. SPY - Feb. 24th. - Support at 23.6% is important to indicate firm follow through to the upside.  Loss of support at 38.2% & 50% would be serious cause for concern among the "Bulls."

Bull - Bear Battleground - 10 Day Bear Potato is Challenged

2D, 10m. - Feb. 24 - Todays trend was up after 10 days of decline in market.  Seen above in Gold Spots are two double tops and bottoms signaling reversals.
5 D, 30 m. - Feb. 24 - Bullish trend for a change.  Confirmation required on 60m. chart.
10D, 60m. - Feb.24. - The Bear is challenged.  The candle closes over the 10 Day MA but the 10/30 have not yet crossed over.
6M, Daily - Feb. 24 - Nov. lows are challenged and hold at this point.  Fibonacci retracements are shown based on recent high/lows.  Tomorrow will be important to see if there can be bullish follow through to the upside.

Leonardo of Pisa "Fibonacci" - 12th. Century Mathematician

2D, 10m. - Feb. 23 - Fibonacci retracements.  Resistance and Support identified for last two days and retracement lines are drawn from top to bottom.  50% (76.39) considered "critical."  61.8% (76.85) is the "trend breaker."  38.2% (75.93) "first line of defense - erosion here is considered a trend threat."

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"Getta Way Doggie, I'm in Charge Here"

3 D, 10m. - Feb. 23 - Gap up at open stalled prior to 61.8% Fibo Line (Gold Spot) and fell back into a sustained move to the downside.
2D, 5m. - Feb. 23 - Fibo retracement of 23.8% gave opportunity for re-entry at 76 for a short with resumption of downward move into the close.  In a strong trending market retracement and reversal at 23.8% Fibo is common.  Internals were weak all session.
10D, 60 min. - Feb. 23 - 9 Day Bear Potato sustained.  Ten point variance in Potato.
6M, Daily - Feb. 23. - Nov. lows are challenged.  Longer term Bear Potato prevails (Gold Spot).  The larger question is what will happen when the lows are breached.  Will be get capitulation selling or just trend lower.  Of course a rally could occur but where is the economic or political news that would trigger that action.

Leonardo of Pisa "Fibonacci" - 12th. Century Italian Mathematician
2D, 10 min. - Feb. 20 - High/Low Resistance and Support is identified for the last five days and boiled down to two days.  Fibonacci retracement lines are drawn as above.  "Critical" level is 50% as to whether move is sustained or not.  That is around the 78.00 mark.  If the SPY goes above 61.8% (78.51) there is a high likelihood that the upward trend will be sustained.  If it drops back below 38.1% (77.48) it is more likely to fail and go lower.  Also note that this activity is all within the Devil's Den and caution is advised.  We still have a Bear Potato intact.

2D, 10m. - Feb. 20 - If you put the Fibs. on a one day you get a different result.  From this you would expect the market to go up.  I am just trying to learn how to use these things so take it all with a grain of salt.

2D, 10m -Feb 20 - Fibonacci Retracement - Topped out at 50% (considered critical) - It is my understanding that according past performance and Fibonacci we can expect lower on Monday.  Don't count on it.  This is a new trial and error adventure for me.

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Washington has this solved.  How come you are so skeptical?  Just go back into your cave and leave us alone.
6M, Daily - Feb. 20 - Critical period in stock market history.  November lows are challenged.  Long term bear trend prevails.
5D, 30m. - Feb. 20 - "Bear Potato Day 8."  Devil's Den invaded but no penetration to the upside.  60 minute chart is in full charge.  The upward movement was turned back at the 20D MA.
10D, 60m. - Feb. 20 - The Bear Potato was not seriously challenged during the entire session today.  The best that the bulls could do was dance off the bottom of the 30 D MA which was not much.
2D, 10m. - Feb. 20 - Double tops and bottoms are pointed out in this chart.  These can be important reversal points in market action.  

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Bear Potato Day 7 - "I think I ate too much!"
3M, Daily - Feb. 19 - The longer term chart continues to show a Bear Potato with even more downward movement (Gold Spot).  This is the Seventh Day of the Bear.  It is overextended (oversold) but there is very little in the economic or political news to support a move to the upside except for the market being "oversold."
5D, 30m. - Feb. 19 - It looks like a continued sideways day but in reality it was a trending day to the downside just dragged out over several days.   Today was weaker than Tuesday & Wednesday.  There was a "Gap Up" to start but the bulls could not support it.  The rest of the day was trending lower with periodic retracements.
10D, Hourly - Feb. 19 - "Bear Potato Day 7."  In the seventh day we have a 7 pt. swing meaning that if you bought into the Potato on day one, you would have had a 7 point change in the SPY.  4 Puts on the SPY at .50 Delta could have yielded a profit of $1400.  There are a lot of shouda/coudas in that equation but dreams are dreams.
2D, 15m. - The usual picture shown is a 5 minute chart.  Of interest today is that the 15m. chart demonstrates the "double bottoms" and "double tops" that can be so helpful in recognizing "reversals."  These seem most evident on 10 & 15 minute time frames.

Two Days of Sideways Uneventful Market Inaction.  Does that Tell us Something?  Yes!  To me, "This tells us that we don't know where we are going.  We as a nation and economy are walking through a mine field just trying our best to tip toe along trying not to get blown up.  We have Washington on the one side with platitudes and rhetoric and the market reality of economic collapse staring us in the face.  The "Market is the Market" and it will tell us the "Truth."  If there is optimism the market will go up.  If there is pessimism it will go down.  The Trend is Down!
6M, Daily - Feb. 18 - This is an important chart.  It shows the longer term down trend and the potential that November lows might be breached.   If that happens we could go a lot lower.  This is not just a "trader's concern."
10D, Hourly - Feb. 18 - "Bear Potato Day 6" - Two days of inaction and no direction.  We are in an extended Bear Potato that exceeds the usual longevity of a Potato but these are extraordinary times.
5D, 30m. - Feb. 18 - Totally sideways movement with no real opportunity to trade.  The Potato remains Bearish.
2D. 5m. - Feb. 18 - Two  Days of Watching Grass Grow or Paint Dry.  A Breakout up or down would be expected.  The Bear Potato is overextended but the general news is not Bullish.

The Bears are into Big Time Fishing!

The Bears are into Big Time Fishing!
6M, Daily - Feb 17 - The November Lows are close to being challenged.  There is a 4 week long Daily Bear Potato that has been in effect since Jan. 15th.  The Internals were very weak on Tuesday.  There was a very weak close as well.