It’s rare that a week passes that I don’t see what I consider to be an improperly drawn trendline. Even the example chart on the wikipedia page for ‘trend lines’ makes my skin crawl. (One of these days I’m going to try to edit that page and post a better chart.) I’ve [...]

We got a decent sized selloff today but it could have been worse. The bulk of the losses came early in the session and then it was a tug-of-war for the rest of the day. But the sellers were able to do a bit of technical damage by breaking the S&P’s March trendline. [...]

The Nasdaq continued to lead the major indices higher on Friday. It closed at a new 6-year high and above its upper Bollinger Band for the second day in a row.The S&P 500 and Dow made new closing highs and are just a buy program away from making new intraday highs. So the [...]

Chad left the following comment on my earlier post about drawing trendlines:

I’m somewhat confused with your chart and I’m wondering if you can help me understand your methodology better. With that chart, why wouldn’t the trendline be drawn from your start point, to the dip that occurred back at the end of November? [...]

Technicator.net has a post which makes the case that the major indices are still technically healthy. The article has charts of the indices which support the author’s claim but I have a serious issue with the S&P 500 chart. Specifically I have an issue with the way that the current trendline is drawn. [...]

Today was a pretty good day for the bulls, although sellers did step in late in the day to push the market back down a bit. The NASDAQ and S&P were stopped at those downward sloping trendlines I’ve been pointing out. (damn those technicians!)

The NASDAQ chart really illustrates how the bears got trapped [...]

It certainly got ugly today, especially on the NASDAQ. Once again it’s broken below its 50 day moving average. It’s also sitting just a few points below its May - November trendline. The NASDAQ 100/QQQ was able to make a tiny bounce off of its corresponding trendline to close above the line. [...]