"The Market is Trying Hard to Gain Traction"

2D, 5m. - Mar. 13 - Friday was a consolidation day (Gold Spot) required to absorb a solid week of market gain.  All price action remains above the 10D MA and the 4 Day Bull Potato is preserved going into the weekend.
5D, 30m. - Mar. 13 - Channel outlines the bullish move of the past week with two similar days of pause and consolidation.  The Bull Potato is well preserved with all action above the 10D MA.
20D, 60m. - Mar. 13 - Major Trend Reversal is seen with the Tangential Channels showing a new move to the upside.  The projection of the channel can function as a "Windsock" indicating where the market might go next week.  Of course changes in market direction may occur at any time.
3M, Daily - Mar. 13 - Longer Term Charts must always be kept in mind.  The change in direction is clear on this 3 Month chart and with each day there is greater crossover potential as the market moves in the upward direction.

"Technical Analysis is a Windsock, Not a Crystal Ball." - Carl Swenlin, Decision Point

10D, Hourly - Mar. 12 - Bull Potato Channel Projection for Friday, Mar. 13th.  No guarantees but this is the directional bias of the Swing Potato.

"The Bull Charged Back with Explosive Force"

2D, 10m. - Mar. 12 - Very strong trending move to the upside.  There were few pull backs and little opportunity for trade entry as the price moved up.  This is the 3rd. day of a new Bull Potato and it appears to have a lot of momentum.
5D, 30m. - Mar. 12 - Tuesday and Thursday (today) showed very bullish moves to the upside in very clear cut channels.  These channels once identified can be used to help make trade decisions.
10D, 60m. - Mar. 12 - Bull Potato Day 3 and fully confirmed with all activity above all Moving Averages.  Most Potatoes last from 3 to 6 days and sometimes more.
3M, Daily - Mar. 12 - Trend reversal seen as Bull Potato roars into action.  There is still a lot of work required to reverse the larger term Bearish Trend and Secular Bear Market.

"Is This a New Trend or a Standoff"

2D, 5m. - Mar. 11- Gap up followed mostly by a trending day down.  There was then a breakout to the upside followed by a weak close.  This all follows a very strong market the previous day.  Tomorrow remains a mystery.  Technically the Bull Potato remains intact but confidence in its reliability is shaky.
5D, 15m. - Mar. 11 - Each day has a "channel" that outlines the "trend of the day."  These can be used to help with trade decisions.
10D, 60m. - Bull Potato Day Two (2).  The market remains above the 10 Day Moving Average preserving the continuity of the Bull Potato.
3M, Daily - Mar. 11 - The last couple of days has shown a "Change in Trend Direction."  The market did close above the 10D Moving Average.  In the past these changes in direction have prevailed for 3-5 days or more.  The prolonged recent decline has brought into question the validity of these prior observations.  It may take some time to sort out these new patterns.

Bull Potato Breakout

"Breakout in Action - Can it Lead to a Score"

5D, 15m. - Mar. 10 - Beautiful breakout with formation of a new Bull Potato.  This is the first real technical reversal move seen in the market in the last month of activity.  The big question is "can it be sustained?"
20D, Hourly - Mar. 10 - The Breakout (Gold Spot) is seen on this longer 20D time frame chart. Twenty days sounds like 3 weeks but it is really a month of four five day sessions.  This has been a long wait.  The channel is simply a down trending outline of the prolonged Bear Potato that has been in play all this time.  "Change" is a popular buzz word these days.  Perhaps we can see some "Positive Change."

"Battling Back- It is Just a Matter of Time"

Today we finally broke out of a protracted bear market that has been a slow bleed experience.  The Bulls should find encouragement.  Tomorrow will be interesting to see what kind of followthrough they have to support this move.
2D, 5m. - Mar. 10 - The most interesting thing today was the breakout above the Bear Channel that is now into its fourth week.  This was a clear break and signals a new Bull Potato.  When we started this series Potatoes last from 3-5 days up or down and that was consistent.  Recently we have experienced a protracted Bear Potato.  Perhaps we can resume the old pattern.  Notice the "anticipated symmetry" that helped with a late day successful trade.  This is a common intraday market behavior that can often be taken advantage of.  The "internals" need to cooperate and be on your side.

5D, 30m. - Mar. 10 - There was a clear breakout from the former Bear Channel (19 Day Bear Potato).  This move is "Central" to the Potato Trader theme of Moving Average Crossovers and Swing Potato Trading.  Intraday trades can be taken with more confidence if the underlying trend is appreciated.
10D, 60m. - Mar. 10 - New "Bull Potato" confirmed on Hourly chart.  There was a failure of this move about 10 days ago but that has been rare.  In general a new potato will prevail for several days or more.  There are no guarantees.
3M, Daily - Mar. 10 - The trend is obviously down but there was a "breakout" above the upper channel trend line.  The market remains below all major moving averages at this time.  More work needs to be done to establish credibility in this market.

Potato Peelings can be slippery.  Watch you step!

PT

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.

"End of the Day Rally Spurs Hope."

"Excuse me,  but may I butt in?"

2D, 5m. - Mar. 6 - Another day of decline with a symmetrical S-Curve, but this time interrupted by a late day rally that I am sure took out a lot of shorts.
5D, 30m. - Mar. 6 - End of day rally in Gold Spot came out of the blue.  The Bear Potato is challenged at the close, but the SPY still ended up in the Devil's Den.  

20D, 60m. - Mar 6 - Bear Potato Day 18.  A "Snap Back" is way overdue.
6M, Daily - Mar. 6 - Trend lines are drawn to highlight the major market moves.  This week has actually seen an acceleration in the rate of decline.  Today's end of session rally, while encouraging to bulls, was quite small in the larger context of the market.

"Don't Slip on the Peelings."

"Sneak Attack in the Making."

"This is getting serious!  Someone's Planning a Sneak Attack!"

6M, Daily - Mar. 5 - It is important to look at the market in multiple time frames.  Sometimes it works best to look "Long Term" first and sometimes it is better to look at it "Short Term" first.  Today it will start at the "Long Term."

The above chart shows the progressive decline in the market over the last 6 months.  The more recent "accelerated decline" is apparent.  The "Big" question is what does this mean?  Can we expect a "Snap Back" or "More Slow Bleed."

10D, Hourly - Mar. 5 - Bear Potato Prevails!  As pointed out yesterday the Bull had raised his head but his libido was quickly pricked.  The two gold spot show the "Obama Fake Out" of a few days back (he made some remarks that affected the market).
5D, 30m. - Mar. 5 - There are two interesting points here.  I have observed and pointed out before that there are frequent repetitious patterns that occur.  One of these is the " Symmetrical S-Curve."  In the above chart you can see two duplicate "S-Curve" patterns.  These can be helpful in making mid-day decisions for the afternoon.
2D, 5m - Mar. 5 - This is a very interesting chart.  A speaker on Think Or Swim in Trader Lounge commented on "High Hockey Stick" indicators.  In the above chart there is a classic "High Hockey Stick" in the CCI that coincided with a decline in the market.

If you have questions, please make a comment.

PB

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