Track the Market

"Avoid Train Wrecks - Keep the Cars on Track"

5D, 10m. - Apr. 24 - Compare this Chart with Thursday's.  We got a dramatic break out from the Wedge formation to the upside.  The market has remained in the Channel Trend Line (Railroad Tracks).
20D, 60m. - Apr. 24 - The Channel remains Bullish with the market price at the center line.  The Moving Averages are Bullish.  A pull back may be expected given the gap and trend to the upside on Friday.
3M, Daily - Apr. 24 - The market is still in a secular long term Bear Market.  Currently there is a Bear Market Rally.  At this time there are no signs of slowing down the momentum to the upside.  The Wedge formation, however, suggests a Monday morning pull back.  The odds are that the market should remain inside the Channel.

As the market opens it pays to watch the action of the first several 5m. candles.  Let the market show its hand.  Watch the internals (UVOL/DVOL & ADs).  Pay attention to the MACD and CCI for trend indications and confirmation.

"Little Engines Go Up & Go Down"

"Are We Over the Hill?"

2D, 10m. - Apr. 17 - While coming up against resistance the market shows a lot of strength.  The Trend continues to be Bullish but the market is very overbought.  Long positions should be taken with caution.
20D, Hourly - Apr. 17 - "The Bull Potato Carries the Day."  This is a victory for the week but will it carry on into next week?

3M, Daily - Apr. 17 - The Daily remains Bullish but there is Resistance ahead.  A pull back would not be unexpected.  A Gold Spot highlights a possibility.

The Sleeping Tiger Leaps Into Action on Que!

"As if a Bull is not enough to worry about.  Now they have come up with a Tiger."

1D, 5m. - Apr. 13 - The Sleeping Tiger hit on on cylinders for a perfect play.  The chart tells the story.  This was an actual trade that took place today.  Toni Turner explains this strategy on the Money Show.  He tutorial can be reviewed by clicking on the Sleeping Tiger in the sidebar.
20D, 2 Hour - Apr. 13 - The 20 Day channel remains bullish.  There has been considerable volatility along the way.  The MACD and CCI are well into positive territory and indicate an overbought condition for the moment.  This could result in a pull back which may only be temporary.
3M, Daily - Apr. 13 - The Bullish move has taken closer to Resistance at the 88 level.  There are numerous gaps that cry to be filled.  Continued volatility can be expected.  All indicators are Bullish for the short term.  Long term the trend is still Bearish.

No Safe Place to Land!

There is no clear support level for this market at this time.  It is just a guessing game to figure out where the carnage will stop.  It is very important in a market like this to keep multiple time frames in mind.  The market is the market and the charts will tell you where we have been and act as a "windsock" suggesting where it might go.
2D, 5m. - Mar. 9 - Today was an "Inside Day".  It started with a Gap Up but then retreated into a slow erosion for the rest of the session.  Friday's lows were not broken so there is hope that tomorrow will show some traction to the upside.
5D, 30m. - Mar. 9 - Market closed below all moving averages.  There was no real threat to the Bear Potato which has now lasted for 19 days.  A record in the lifetime of Potato Peelings.
10D, 60m. - Mar. 9 - Hourly chart simple reconfirms the continuation of the Bear Potato.  As in the 30 minute chart the close is below all significant moving averages.
3M, Daily - Mar. 9 - This longer time frame chart shows the continued down trend that has prevailed for 6 months.  The trend downward has actually accelerated in the last 5 sessions.

Predictions by experts as to where the DOW will go range from 6000 > 3000.  Take your pick.