Monthly Archives: April 2007

Trendlines form channels and chart patterns, but in addition they often give indications of the strength or weakness of a move. Converging trendlines usually indicate weakness, or even a potential reversal. Yesterday we closed at a down sloping trendline, and … Continue reading →

The market set up some clear channels today, but the internal Fibonacci measurements within those channels still left something to be desired. We opened with a small pop to the upside and immediately reversed. When the market bounced from yesterday’s … Continue reading →

Like yesterday we had another narrow range session. The difference is the almost complete lack of good trendline channels and Fibonacci relationships. Usually one or the other will give some good signals. The first bar spiked down, but didn’t quite … Continue reading →

If you’ve read this commentary for very long you already know I didn’t trade today. If there are no clear trades in the first hour and the range is small, I wait until it looks as though we are breaking … Continue reading →

With the low volume/narrow range trading yesterday and today, it looks like the three day weekend started early. I can take a hint. Back on Monday. Lowell

Trading gaps requires two different approaches, partly depending upon where price opens. Recently I’ve pointed out a number of occasions where price would open at a 127% external retracement of a previous move and then immediately reverse. That wasn’t the … Continue reading →