Mid Day Chart 8-22-2014

Mack

Yellen is speaking on behalf of the Fed in Wyoming this morning, and that did create some volatility right around 9 AM CST this morning.  At the moment, the price action is...

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Short Term Trend Lines

Mack

This day trading lesson comes after many multiple requests.  I have had this lesson on the “to do” list for a while, but after continued requests for a lesson on short term...

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Mid Day Chart 8-21-2014

Mack

I see two possible channels this morning, and until we get a bit more price action, it will be difficult to determine which is the most important.  The steeper channel (green channel)...

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Mid Day Chart 8-20-2014

Mack

There is an FOMC announcement today at 1 PM CST, and if today is like most average FOMC type days, the market will not do much prior to the announcement.  Generally you...

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Mid Day Chart 8-19-2014

Mack

I delayed posting today’s chart with the hopes that something might happen to give us a  better idea of the price action direction today, but that has still not happened.  Today looks...

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Mid Day Chart 8-18-2014

Mack

I see a gap up this morning that looks like a spike and channel pattern.  When you see a lot of small choppy bars that keep moving in one direction, it is

Mid Day Chart 8-15-2014

Mack

UPDATE:  Now that we have a bit more price action to the down side, I see what appears to be a nice two tiered downward channel.  A measured move down would give...

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Mid Day Chart 8-14-2014

Mack

Today looks very rangy again so far, with prices swinging from one side of the EMA to the other.  I do see a possible two tiered upward channel, but it’s so flat...

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Mid Day Chart 8-13-2014

Mack

While the bias was down slightly this morning, this looks more like a trading range than anything else right now.  There was a break of the trend line and a retest with

Mid Day Chart 8-12-2014

Mack

It has been down hill all the way today so far.  Even though it felt like we had a lot of movement yesterday, the market basically closed unchanged for the day.  The...

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