Join Live Chat with Corey Rosenbloom on Trading Tactics Monday (1:00 PM EST)

By Jim Slagle | March 22, 2010 | 2:16 AM |  0 CommentsTweet This

I'm pleased to announce that the Money Show.com Virtual Studio will be hosting a brief Live Chat and Q&A with me Monday, March 22 at 1:00pm EST / 12:00 CST entitled:

"Quick Tips on Enhancing Breakout, Reversal, and Retracement Trading Strategies."

Click the image for more information:

I'm excited to participate in this new "Virtual Show" opportunity and hope you can join me for a quick chat and attendee Q&A.

If you haven't registered already for prior events, you'll need to create a free account with the Money Show.com Virtual Show (link provided here).

During the session, I will be discussing rapid-fire tips on the three main types of trade set-ups:

Retracements
Reversals
Breakouts

... as well as what indicators and price patterns work best for finding and taking these trade set-ups.  It will be a condensed version of my presentation at the February 2010 Trader's Expo in New York City, only you'll be able to participate and ask questions in a chat-room format.

It will be a quick 20-minute chat you can take as part of your afternoon or lunch break!

For more information and to register, click on the link above or on either image in the post:

All the best in the week ahead and I hope to see you in the chat and answer your questions!

Thank you for all your support.

Corey Rosenbloom, CMT

 |  | 

Dollar On Verge Of Break Out; Goldman On Verge Of Being Stopped Out...

By Tyler Durden | March 22, 2010 | 1:26 AM |  0 CommentsTweet This

The DXY is ripping, and is about to break out of recent resistance levels. News out of Europe that no bailout of Greece is to be expected, further compounded by some serious doom and gloom out of Evans-Pritchard about the EMU and the euro in general, means that the euro will soon make a date with the one point two-handle. This is certainly not good for Goldman clients who just one week ago bought into Goldman's pitch of going long the EUR/USD, with a 1.35 stop. Looks like that stop is about to be breached.

 |  | 

A Peek Inside SP500 March Rally Market Internals

By Corey Rosenbloom | March 19, 2010 | 2:22 PM |  0 CommentsTweet This

When assessing the strength or weakness of a recent market move - such as the ‘non-stop’ rally we’ve seen so far in March - it’s important to look beneath the price to see the signals from key Market Internals… and that’s what this post does.

Let’s take a look ‘under the hood’ to see how market internals have shaped the recent rally and what might be in store ahead.

(Click for full-size image)

For internals, I study the Breadth (Advancers minus decliners), TICK, and Volume Difference (volume of advancers minus volume of decliners).

I plot these as lines and then compare price highs to internal highs and look for alignments (confirmation) or divergences (non-confirmations).

What are we seeing now?

Long-term internal divergences as well as short term breadth and “VOLD” divergences.  That’s a solid non-confirmation of the recent highs.

That doesn’t mean price is required to ‘fall off a cliff,’ though we’re seeing some sharp downside action take place this morning (Friday) which could indeed continue, if the signal from internals are correct.

I did want to call attention to the March 2-3 divergences which only managed to result in a slight pullback/consolidation in price before internals suddenly strengthened and price rocketed higher as forecast by the sharp pick-up in internals on March 5th (the “Jobs Report” spike).

Now that we’ve seen new price highs, no internal index has reached the peak seen on March 5th’s powerful trend day.

That sets up a ‘multi-swing’ or long-term (that term is relative) divergence, but we’re also seeing a slight short-term or immediate divergence with the highs on March 17th.

Don’t be surprised to see further downside action develop as a result of these divergences, but keep in mind that bulls have been absolutely dominant so far and have ‘bowled over’ the previous negative divergence in market internals as seen here on March 2nd and 3rd.

Keep a close watch for new lows in internals, which would indeed forecast lower price lows yet to come.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter:  http://twitter.com/afraidtotrade

Learn the Secrets of Candlesticks with this Free Article from GFT

 |  | 

Five-Day Broken/ MACD Looks to Cross

By Jeff Pietsch | March 19, 2010 | 1:21 PM |  0 CommentsTweet This

Quad Witching has provided the volatility needed to break the winning streak.  SPY has seemingly found support near $115.75.  In as much as I'm distrusting of that support based on very weak internals (it's easy to see an eventual move to the low $115s) -- it would be typical of recent action to ramp into the close, so I'll respect that support for now even as I'm disinclined to switch long.  Oh, and I have no idea what they are talking about on CNBC, volume has been huge -- the re-balance trade may be contributing.

Never Investment Advice

 |  | 

A Rotator Variation

By Bob Barnes | March 19, 2010 | 9:10 AM |  0 CommentsTweet This

Once again yesterday the Qs demonstrated their momentum edge. closing in the green while SPY and IWM turned red. And once again, not a lot of technical disparity between the top4 slots, which really is indicative of the ongoing broad advance of the markets. That, and a VIX below 17.
I've juggled the metrics columns format once more and I think this is a keeper for a while. The yellow column is still the daily % change, while the column to the right "Price" is, in fact, a Worden Brothers algorithm that calculates a proprietary price volatility value. It's like beta, but it's not. The next column to the right "5 Day' is the 5 day performance of the ETF relative to the performance of the SPY. Beta is , of course, beta. I don't know why Worden can't figure out the VXX beta. . it's currently at -2.16 according to other data vendors.

The Rotator models above and below reflect an ongoing research project that has so far shown considerable promise. I'm using the same 6 period 2 day moving linear regression channel slope to sort the Rotator components and define ranking. FXC and EWC have been the top $ and country for a while now and if you take a peek at the charts (not shown) you'll quickly see that Canada has been on a tear. While the Canadian dollar continues to shine, Mexico has now taken over as the top momentum country. . not exactly sure why. . pre Cinco de Mayo exuberance maybe? These are fairly low risk models as the currencies and the countries tend to trend for extended periods of time and typically flash broad technical signals of impending reversals.

 |  |