"Sometimes the Best Defense is to Ball Up and Hunker Down"

"There is Nothing Wrong with a Passive Defense when Faced with Uncertainty."

2D, 10m. - Apr. 30th. - Early morning momentum led us into a trade to the upside which did not go well.  There was a nice move to the upside but it failed and fell back and the trade was stopped out with a small 25 cent loss.  From there the market continued its retreat.  The close was weak.
20D, 2 Hour - Apr. 30 - The Channel Trend continues UP!   The Trend is Your Friend so take care if you try and swim against it.
3M, Daily - Apr. 30 - Trend remains UP!.  Resistance sits like a lid on the market.  This has been highly touted as a Siegfried Line with iron clad defense.  That remains to be seen.  Perhaps the Hedgehog has it right.  Ball up and stay out of the way.

"It Might Have Been a Better Day at the Fairgrounds"

"Zippin' Pippin Day on Wall Street - Sneak Attack Over the Hudson!"

2D, 10m. - Apr. 27 - There was a roller coaster morning followed by a "Crack Cocaine" afternoon in the market today.  The internals weak at the outset due to the Gap down.  This was followed by some improvement only to have it fall apart in the afternoon with increased volatility.  Contributing to the morning gyrations there was a False Alarm of an errant aircraft over the Hudson that led to mass evacuations and anxiety in New York.
20D, 2 Hour - Apr. 27 - There is another wedge to contend with but this time it is neutral not yet tipping its hand as to direction.   The Channel Trend remains up.  The market is running into significant resistance at this level and may end up going sideways as it "Butt's Head."
3 Month, Daily - Apr. 27 - This chart clearly shows the Resistance Line and the Collision Course the market is on.  It reminds me of the joke about the "Battleship Trying to Stand Down the Lighthouse."

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.

"The Bears are Watching Very Closely - There is Greed in their Eyes"

2D, 5m. - Mar. 16 - There was a Gap at the Open with strong internals that lasted until 1 PM (CDT).  At that point a double top formation was followed by a break in the trend line and the market declined for the entire afternoon.  The "Windsock" channel proved effective in maintaining a focus on the general trend.   Of significance was the break through support at 76.50 (prior swing low).  There was no support at that level and the market ended near the Pivot.
5D, 30m. - Mar. 16 - "Potato Peelings" primary theme is the rise and fall of Swing Potatoes.  In this chart the ongoing Bull Potato is seriously threatened.  All moving averages have been violated.  The move is not yet confirmed on the Hourly Chart.
10D, Hourly - Mar. 16 - The 10 and 20 Day Moving Averages have been penetrated.  The 30 Day is still intact so the existing Bull Potato is still viable at the close.  Tomorrow's action will determine its fate.
3M, Daily - Mar. 16 - The Trend Reversal is in its 5th. Day.  It almost reached the 10 Day MA on the Daily Chart but not quite.  At this time the reversal in trend is threatened but not dead.

"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.