timwest

timwest Wizard

I believe this is just a rally back into resistance here on May 22, 2012 at 404.48 +11.15 or 2.83%. I will wait until tomorrow to short and I will look for a 410-415 IDEAL ENTRY LEVEL and will look for a 384-380 target. My stop will be 425-430. Just giving a heads up early. Cheers.

timwest Wizard

I view the chart of GOOG as vulnerable (again) to test the support level down at 570 to 550. The heavy resistance area on the chart is just 1.5% above current prices and the support level is down 7.0% for a 1:4 ratio of upside potential to downside potential. I will keep an eye on news as clearly the Facebook IPO is having a major effect on the trading in GOOG,...

timwest Wizard

Updated the previously published chart after the "buy the dip with a $2 stop loss" didn't pan out. With news released today about earlier than forecasted deliveries of the model-S electric car and a buy rating by Maxim Group, it made sense to update the chart and see where this chart stands. Note how the "RISING SUPPORT OVER TIME" comments are holding...

timwest Wizard

When I see this chart...(of the EURUSD daily, 1 year) It reminds me of a good old nursery rhyme that may or may not have anything to do with markets and psychology: But here it is anyway... "All the King's horses and all the King's men, couldn't put humpty together again" Perhaps the way to look at it is this: All the King's sellers and all the King's henchmen,...

timwest Wizard

I felt it was worthwhile to re-publish this chart (untouched) to outline how using tight stops can hurt you over time. Notice the gold market reached the generalized price in a similar, impulsive decline after another set-up where it was failing to rally despite a preponderance of bullish news. Recall back in September when QE3 out of the US and Europe failed...

timwest Wizard

Gold versus Oil Service stocks (OIH) since September of last year are nearly identical as money flows into and out of these sectors. Read the chart comments above. Cheers. Tim

timwest Wizard

ABX is deeply oversold and reversing up in a down market. See chart for notes. Tim 11:13AM EST Monday, May 14, 2012

timwest Wizard

For what it is worth: This is the ridiculous nature of markets - sometimes they just don't think for themselves and instead they act like sheep and follow another market, no matter where it goes. In this instance, the stock market here in the USA, together with the EuroCurrency (as measured by the FXE etf) and the Australian Dollar (as measured by the FXA etf)...

timwest Wizard

TLT - 20 Year US Gov't Bond ETF Notice all of the gap-UP green circles. I count 26 gap UPs versus 10 gap downs. This market has had a tremendous amount of "short-squeeze" to rally up to these levels. Also, the recent European market turmoil has led to "flight to safety" buying of US Treasuries. Notice how the rally pattern is indicative of a "euphoria for...

timwest Wizard

NFX - Basing Action Newfield Exploration is forming a bottom from a technical perspective. From a fundamental perspective, I view NFX as a way to participate on an oversold bounce in the energy market. The last nine months have seen selloffs and consolidations followed by new lows. The price action appears to have changed. The last rally indicates a low-risk...

timwest Wizard

CMG has broken below a key level of technical support at 421 where it had spend more than two weeks building a base. The support level broke on heavy volume and this selling zone has been retested on a light volume advance and is close to failing as of this analysis (failure is defined if CMG breaks under a previous day's low). You can see how low CMG would have...

timwest Wizard

The low price of natural gas and the falling price of WPRT which makes natural gas conversions for trucks and autos has my attention. This stock has come down a long way on some bad news and some competitive pressures, but what the chart is telling me is that the sellers are running dry and the buyers are lined up right under this price level. So, the...

timwest Wizard

I find this UNBELIEVABLE that AAPL has rallied from 380 to 640 without breaking below a previous five day session low (using ATR). That is an incredible advance and I will look around for other advances by other stocks or commodities that are this extreme. From a price perspective, this may be the most extreme percentage "one-way" move. By: Technical Tim, Fri,...

timwest Wizard

This is a purely technical guesstimate for how the market will advance given the pschological, sentiment, monetary, economic environment as I analyze it. The waves are just guesses based on market reactions to visible support and resistance levels. I "saved" this yesterday with the DIA at 128 and now with the market back up to 129.70, it appears that the support...

timwest Wizard

Gold is in a defined downtrend as noted on this chart. Today in China, the inflation rate came in higher than expected and could have led to a sizable market rally, but instead it has only led to a reflex rally that is currently holding under the optimal resistance area at 161 where there are 11 days of "market memory" or supply in this downtrend. Until GLD...

timwest Wizard

MCD is rallying back to the price level where the news was announced back in early March that the CEO was going to retire in June. Since that time, KO (Coca-Cola), BUD (Budweiser) and other global consumer non-cyclical stocks have made moves higher and the stock market has moved back up as well. MCD is rallying to catch back up from the bad news, but you can see...

timwest Wizard

This picture is worth a thousand words. It basically shows me that Alcoa's chart has been the rough equivalent to China's stock market, but with the added price volatility it is a leveraged play on FXI. This is simply "interesting" and thought you all would enjoy seeing this chart. By: Technical Tim, Monday, April 2, 2012 4:22PM EST

timwest Wizard

Comments are on the graph: I saved this chart last week and it is turning up from the red circle support zone I had outlined for myself. I like to see the chart pattern "wash-out" stop loss orders under previous correction lows to free up a stock from short term traders. Those declines set up very reasonable risk to great reward trades. I do like to see 3...