Technical Analysis of Stock Trends

Sold shorts. Sideways.

Posted on Oct 26, 2010 by WHC Bassetti.

http://stockcharts.com/h-sc/ui?s=QQQQ&p=D&yr=0&mn=6&dy=0&id=p39697041562&a=203282119

We took another look at the Qs and decided we didn’t like our shorts there and so closed them.  On reanalysis the trendline was not sufficiently penetrated.  We also closed our SPX shorts and so are sideways trade-wise.  Trend-wise we are of course long, and wondering why they haven’t shaken the tree so as to get rid of all us minor annoyances.

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More on the eye of the storm…GLD, SLV, FXE, TLT..

Posted on Oct 24, 2010 by WHC Bassetti.

As this is a compendium encompassing a number of past comments we will just display links instead of the charts.

GLD gave a sell signal, but unlike recent collapses it is just hanging in midair, like the rest of the market.  This sell signal ws for traders, not for investors.

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=6&dy=0&id=p23550335056&a=203282120

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Eye of the hurricane…

Posted on Oct 24, 2010 by WHC Bassetti.

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=0&dy=0&id=p03149889863&a=204730441

Notice how the truism of trendlines is demonstrated here.  A broken up trendline warns of an impending  trend change.

At this moment price is in a very interesting and suspenseful place.  The trendline was broken by a down power bar, which is usually a good signal (to make a trade on).  But so far there has been no downside follow through.

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SPX, GLD, SLV, INDU, and kitchen sink

Posted on Oct 19, 2010 by WHC Bassetti.

Two crucial events here.  The short term trading trendline is broken on a vicious  power bar, and price is nose up against the resistance represented by the horizontal line.

And it is also time for something new and entirely different, as Month Python would say.

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Halloween. Boo. QQQQ, SPXU, QID

Posted on Oct 19, 2010 by WHC Bassetti.

We shorted the S&P and the Qs, selling all our long positions.  A trader’s move, scaling in to these positions.  Used SPXU in the S&P, QID in the Qs.

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