In our December 14 ETF trading commentary, we pointed out the bearish shooting star candlestick pattern that S&P 500 SPDR ($SPY) formed on its longer-term weekly chart interval. The rest of the major indices closed with the same topping pattern on their weekly charts. Last Friday, we also illustrated the bearish pattern and relative weakness […]
On the close of December 13, our stock market timing system shifted from “buy” to “neutral” mode. This means we now have no firm bias with regard to near to intermediate-term market trend for swing trading. The lack of substantial bullish follow-through in leading individual stocks in recent weeks, the absence of leadership in most […]
Using the MTG Stock Screener, our simple stock scanner software for technical swing traders, the 3-minute trader education video below shows you how to quickly and easily find strong stocks that have been forming a base of price support over the past 4 to 8 weeks and are now poised to breakout to new highs […]
Last week, the Dow Jones Industrial Average ($DJIA) gained 1.0%, but the Nasdaq Composite ($COMPQ) lost 1.1%, making for a rather sizeable weekly price divergence of more than 2% between the two popular stock market indexes. Although it is unusual when two or more of the major indices trend in the opposite direction of one […]
In this educational stock trading strategy video, we walk you through the clear, technical criteria that recently prompted us to buy Qihoo 360 Technology Co ($QIHU) for a short-term momentum trade. We point out the basic, objective technical analysis that prompted us to buy $QIHU when we did, and conclude the video by explaining our […]
In the November 19 issue of The Wagner Daily newsletter, we initially pointed out that iShares Nasdaq Biotechnology ETF ($IBB) may be in the process of forming a bearish “head and shoulders” pattern on its weekly chart. Now, after a month-long bounce off support of its 200-day moving average, $IBB is forming the “right shoulder,” […]
Since the last two weeks of December are typically dead in terms of trading volume, there are really only two more “tradeable” weeks remaining in 2012. Therefore, it is fair to say the overall price action of the broad market over the next several days could easily set the tone for the remainder of the […]
As stocks attempt to form a significant bottom since bouncing off their November 16 lows, many traders of stocks and ETFs may now be wondering how to find the best, most bullish chart patterns and stocks to buy now. Specifically, swing traders need to know which technical criteria and types of chart patterns they should […]
It was obviously positive that stocks continued building on their gains since bouncing off their mid-November lows, and did so on higher volume last Friday. However, it’s still too early to declare an end of the broad market’s multi-month downtrend from its September 2012 highs. One of the biggest reasons we say this is because […]