Author Archive

• The Best of Chart.ly’s Weekend Charts
  The Equilibrium, The Equilibrium | January 4th, 2010 at 7:52 am

  

  The final trading week of 2009 saw the $SPX close down 1.01% for the week.  After briefly moving above the 50% Fibonacci retrace of the ’07 high at 1121.44, the $SPX could not hold the break and closed below the key level on New Year’s Eve.

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• The Best of Chart.ly’s Weekend Charts
  The Equilibrium, The Equilibrium | December 21st, 2009 at 7:35 am

  

  This past week the $SPX closed essentially flat, down a modest 0.36% on the week.  The $SPX daily chart continues to maintain its range on negative divergences – though it is worth noting that the 50daySMA has now entered the range at 1088.52, and the index closed just below the 20daySMA (1102.52).  The range is still king for now.

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• The Best of Chart.ly’s Weekend Charts – 12/6/09
  The Equilibrium, The Equilibrium | December 7th, 2009 at 9:33 am

  

  This post was written by @theEquilibrium on the Chart.ly Blog.

  While a choppy, range-bound market continued to whipsaw traders last week amidst increasing noise, the $SPX managed a 1.72% gain, the $COMPQ a 2.61% gain, and the $IWM a strong 4.93% weekly gain.  The trend remains up until we see true technical breaks. read more...

• The Best of Chart.ly’s Weekend Charts
  The Equilibrium, The Equilibrium | November 23rd, 2009 at 8:30 am

  

  This past week the $SPX fell a modest 0.19% as the index was whipsawed around the key 1100 level.  On the daily chart, $SPX is still within an Ascending Broadening Wedge on negative RSI and MACD divergences – but it’s important to take a large step back and look at the longer-term time frames as well, so let’s examine the monthly chart:

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• The Best of Chart.ly’s Weekend Charts – 11/15/09
  The Equilibrium, The Equilibrium | November 15th, 2009 at 7:48 pm

  

  This past week saw the $SPX rise 2.26%, retesting and backing away from very strong resistance at 1100.  Here’s a look at the daily chart:

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• The Best of Chart.ly’s Weekend Charts – 11/1/09
  The Equilibrium, The Equilibrium | November 2nd, 2009 at 8:21 am

  

  This past week saw dramatic movement in the $SPX, as the index fell 4.04% after failing to break through the 1100 level.  While many weekly charts are tired and sporting bearish MACD crosses, it’s very important to note that after a 60%+ move off the March low, many significant levels of support remain (on multiple time frames) between the current level and the July low of 869.32.

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• The Best of Chart.ly’s Weekend Charts – 10/25/09
  The Equilibrium, The Equilibrium | October 25th, 2009 at 4:17 pm

  

  The $SPX fell 0.74% this past week, closing just a hair below 1080.  After a second failed test of 1100 the index finally succumbed to some strong MACD and RSI negative divergences and headed back down towards recent support.  This 60 minute chart shows that the $SPX remains range-bound between 1075 and 1100, awaiting a definitive break in either direction

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• The Best of Chart.ly’s Weekend Charts – 10/18/09
  The Equilibrium, The Equilibrium | October 18th, 2009 at 6:12 pm

  

  The $SPX rose 1.51% last week, breaking above recent resistance at 1080.  The index has bounced from its 10weekSMA and recovered its uptrend line, continuing its relentless move up.  Here’s a look at the weekly chart:

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• The Best of Chart.ly’s Weekend Charts
  The Equilibrium, The Equilibrium | October 12th, 2009 at 8:39 am

  

  This past week saw the $SPX rise an impressive 4.51%, regaining its briefly compromised uptrend line and pushing closer to the recent 1080 high. The index also powered above its 200monthSMA at 1053, a feat the market-leading Nasdaq accomplished in August.  While there are bearish wedge patterns on both the $SPX and $XLF daily charts, until we see bear patterns actually break lower, expect them to resolve to the upside as they have done since March.

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• Trend Lines Were Made to be Broken
  The Equilibrium, The Equilibrium | October 6th, 2009 at 8:31 am

  

  Simple and clear charts are almost always the best ‘narrators’ of meaningful market action.  I’ve stripped this long-range daily chart of the $SPX down to bare bones, leaving only basic trend lines and consolidation patterns.

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• Charting Under the Stars: USO
  The Equilibrium, The Equilibrium | September 29th, 2009 at 2:38 pm

  

  United States Oil Fund LP (ETF) (NYSE)‎ - daily- possible bear flag on bearish volume pattern following big break below trend line

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• The Best of Chart.ly’s Weekend Charts – 9/27/09
  The Equilibrium, The Equilibrium | September 27th, 2009 at 2:56 pm

  

  The $SPX finished last week 2.24% in the red and tested the 20daySMA in Friday’s session.  To this point the pullback has been very orderly and relatively shallow with the 20daySMA acting as the obvious first line of defense.  Should this level be compromised, the nearest downside targets would be early August support in the 1015-1020 range, and the rising 50daySMA, currently at 1012.

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• Charting Under the Stars: XHB, SMH, SPX, XLF, X
  The Equilibrium, The Equilibrium | September 24th, 2009 at 8:25 am

  

  SPDR S&P Homebuilders (ETF) (NYSE) – daily- middle of ascending broadening wedge- take cues from behavior at the 20daySMA

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• Charting Under the Stars: AMZN
  The Equilibrium, The Equilibrium | September 22nd, 2009 at 5:15 pm

  

  Amazon.com, Inc. (NASDAQ)‎ - daily- getting v extended above 50daySMA on this continued break- volume not there yet Amazon.com, Inc. (NASDAQ)‎ - weekly- making run at July 94.40 high- very low prior volume above that level- next target 101.09

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• The Best of Chart.ly’s Weekend Charts – 9/20/09
  The Equilibrium, The Equilibrium | September 20th, 2009 at 3:02 pm

  

  This past week, the $SPX rose 2.45%, breaking through 1044 resistance from October ’08.  The index is now roughly 7% below its primary ‘bear market’ downtrend line, which is declining quickly from the 1150 level.

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