written by reader Technical analysis

By hipockets, October 26, 2014

TECHNICAL ANALYSIS OF THE FINANCIAL MARKETS was mentioned weeks ago by another Irregular as an excellent reference for technical analysis (TA). ( I apologize for not being able to give him credit, but I could not find his name by searching SGS.) I bought the book because of his recommendation and because the book has 4 1/2 stars (out of 5) on Amazon. After starting to study it, I realized that reviewing the book might be a way to say “Thank You” to the Irregulars who are teaching me so much. I hope everybody finds this useful. If you don’t, you can complain to our CEO! :)

Before I get started – Joe, I was very disappointed when I found that Marxism was never mentioned. Not once! :)

The book was written by John H. Murphy; Revised 1999; New York Institute of Finance; IBSN 0-7352-006-1. Amazon’s price for a new book is about $55. Used books, as of today’s date, are available for between $25 and $30. The book has 542 pages, 19 chapters, and 4 appendices, all of which are listed at the end of this review.

To briefly sum up this review: I am glad that I bought the book. I have started using some of the techniques, and I’m convinced that it was money well spent. However, one wishing to learn TA cannot expect to read the book once and then magically be able to read charts. There must be a willingness to study the techniques and perhaps read some of the chapters more than once. Murphy says repeatedly that that the ability of analyze charts comes only with experience. TA is not a Holy Grail for guaranteeing stock performance, but I believe it has its uses.

The first edition, published in 1986, was TECHNICAL ANALYSIS OF THE FUTURES MARKETS. Although it did not specifically talk about stocks, many of the techniques can be used for either one. This second edition, published in 1999, contains much of the information from the first one, but there is much new information and the emphasis, of course, is on stocks. The differences between TA for futures and TA for stocks are well explained.

To benefit readers new to TA, one sentence from Chapter 5, and one from Chapter 6, might have been better placed early in Chapter 1. From Chapter 5: “The analyst must face the realization that he or she is dealing with percentages and probabilities. . . .” From Chapter 6: “The treatment of all chart patterns deals of necessity with general tendencies as opposed to rigid rules”.

The Good: A lot.

>> Murphy discusses many of the popular TA techniques in easy to understand language (usually, anyway, see the comment about “Elliot Wave Theory” below). Investors with no or little knowledge of TA and wanting to learn will find it invaluable. Investors who already use TA will probably learn additional techniques and at a minimum learn some nuances and variations of the techniques that they already use. There is a plethora of easy-to-read charts illustrating the techniques (easy to read except for some “Point and Figure” charts, see below), with explanations under each chart. The text font is large and easy to read.

The Bad: Not much. A few brabbles, just to be picky:

>> I earlier stated that the charts are easy to read. An exception: some of the ”Point and Figure” charts used a small font in order to pack as much data into the chart as possible. Sometimes the font size was so small that I had to use a magnifying glass.

>> I would like to have several practice charts at the end of most chapters with the question: “What is this chart telling us, and why?”

>> I would like to have a chapter on “Risk Analysis”, but since the risk would vary according to the expertise of the chart reader, I suppose such a chapter would not be possible.

>> I would like to have some discussion about the frequency of techniques occurring, e.g., “A head and shoulders pattern occurs roughly ”X” % of the time”. I would like it, but it probably can’t be done, once again due to the expertise of the chart reader. You might recognize a head and shoulders pattern, but I might not see any pattern at all.

>> The biggest complaint that I have is that Chapter 15, “Computers and Trading Systems”, says very little about software packages for PCs, although “Trade Station” is mentioned in the Chapter and later in Appendix C. I download end-of-day data daily and update my charts manually; I was hoping to find a review of some low cost software packages that would automate the procedure.

This is not a criticism of the book, but I feel that TA often would be of little use in working with microcaps. TA uses as its basis the buying and selling actions (derived from sales price and volumes) of shareholders. My thinking: The fewer the shares, the more the actions (warranted or otherwise) of a small number of shareholders can almost instantaneously affect the price. Conversely, I think TA would be of great benefit when investing in behemoths like JNJ.

Whole chapters are devoted to the basic concepts of many of the techniques. Murphy does not dive deeply into some of the topics, since some, such as Japanese Candlesticks and Elliot Wave Theory, have had whole books written about them. He lists several resources for such topics in one of the appendices.

After explaining the basics of a technique, he frequently writes about or mentions variations of the technique. When explaining RSI, “While 9 and 14 day spans are the most common values used…..some use shorter lengths, such as 5 or 7 days, to increase volatility….[or] 21 or 58 days to smooth out the RSI signals.” Also, he frequently mentions ways to confirm a signal. Many variations of moving averages are discussed.

Chapter 1 starts with a definition: “TA is the study of market action, primarily through the use of charts, for the purpose of forecasting future price trends”. It then lists the three basic assumptions of TA:
1. Market action discounts everything.
2. Prices move in trends.
3. History repeats itself.

(I think “History can repeat itself” or “History often repeats itself ” is more likely. :) )

There is a discussion about the differences between fundamental analysis and TA. Murphy says that, in essence, the fundamentals of a stock are built into the chart. “The fundamentalist studies the cause of market movement, while the technician studies the effect.” Later in the book, he says that charts are often leading indicators of changes in fundamentals and gives a few examples.

Chapter 13, which discusses Elliot Wave analysis, is hard for me to understand, although it seems to me to be a souped-up (I checked the spelling! :) ) version of moving averages. The basic theory is well explained—price movements come in 5 advancement (up) waves and 3 correction (down) waves. Then there are 9 different levels of magnitude. Etc. There are several explanatory charts — the thing that eludes me is how to easily apply the technique to buying/selling a stock. Since I am new to charting, and since this is a complicated topic, I will wait till I master the simpler techniques before getting into this one.

Gumlandians probably will not use the concepts of time cycles (Chapter 14) unless they are long-term investors, but it’s interesting to read about them. “. . . 37 different examples of the 9.6 year cycle, including caterpillar abundance in New Jersey, coyote abundance in Canada, wheat acreage in the U.S., and cotton prices in the U.S. . . . acted in synchrony ; that is, they turned at the same time. . . .” Seasonal cycles, typical stock market cycles, and the January Barometer are some of the topics worth reading.

Chapter 18 discusses evaluating the market as a whole and why it is important. Techniques such as the Advance-Decline Line and the McClellan Oscillator are discussed, and I found the information about comparing the various market averages very educational. If the comparison is to be meaningful, there is more to it than one would think.

Chapter 19 presents a 23 item check list that can be used when thinking about buying or selling. At first, I found the checklist to be intimidating, but after re-reading it, I saw that much of it would become second nature after understanding the techniques discussed in the previous chapters.

I will close by repeating the statement that “I’m glad that I bought the book”, and saying, “ Alan, I hope you were not overloaded with complaints! ”

Here’s the Table of Contents:

Chapter 1 Philosophy of Technical Analysis
Chapter 2 Dow Theory
Chapter 3 Chart Construction
Chapter 4 Basic Concepts of Trend
Chapter 5 Major Trend Reversals

Chapter 6 Continuation Patterns
Chapter 7 Volume and Open Interest
Chapter 8 Long Term Charts
Chapter 9 Moving Averages
Chapter 10 Oscillators and Contrary Opinion

Chapter 11 Point and Figure Charting
Chapter 12 Japanese Candlesticks
Chapter 13 Elliot Wave Theory
Chapter 14 Time Cycles
Chapter 15 Computers and Trading Systems

Chapter 16 Money Management and Trading Tactics
Chapter 17 The Link Between Stocks and Futures:
Intermarket Analasis
Chapter 18 Stock Market Indicators
Chapter 19 Putting It Altogether – A Checklist

Appendix A Advanced Technical Indicators
Appendix B Market Profile
Appendix C The Essentials of Building a Trading System
Appendix D Continuous Futures Contracts
Plus Glossary, Selected Bibliography, Selected Resources, and Index.

fini

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

432
Share your thoughts...

avatar
368 Comment threads
64 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
19 Comment authors
SoGiAmJohn KingHi PocketsJohn KingKennyG Recent comment authors

This site uses Akismet to reduce spam. Learn how your comment data is processed.

sandiegojp
Member
👍491

Re: $AGIO chart analysis TSM – No trade P/V – Lower Vol and narrower Range. Close near High (16% off). Higher High, Low, Open and Close. EMAs rising. Fast < Slow, flattening, >0. MACDH <0, inching down. 2FI setting to cross >0. On the Daily chart, 34EMAs are at high 3 o’clock indicating the beginning of an accumulation period. Daily MACDH made new multi-week deeper Bottom but prices have been rising indicating a Bearish divergence. Fast and Slow MACD lines made a shallower High and turned down confirming Bear may be in control. 2FI made a new multi-week Low and… Read More »

sandiegojp
Member
👍491

Re: $ARWR chart analysis TSM – No trade P/V – Lower Vol and narrower Range. Close nearer High (35% off). Higher High, Low, Open and Close. 50EMA inching down. 22EMA rising. Fast > Slow. Fast crossed >0. Slow rising in parallel to Fast, <0. MACDH >0, inching down. 2FI crossed >0. Daily prices rising but MACDH falling indicating a bearish divergence. Daily price above Value Zone. Daily 34EMA at 3 o’clock indicating an accumulation period. Daily price at upper edge of MA Envelope. Weekly price rising along with MACDH, while MACD lines are beginning to turn up. Weekly price below… Read More »

sandiegojp
Member
👍491

Re: $CLDN chart analysis TSM – No trade P/V – Higher Vol and wider Range. Close near High (14% off). Higher High, Low, Open and Close. EMAs rising. Fast > Slow, >0, rising. MACDH >0, inching down. 2FI just crossed >0. Weekly MACDH and MACD lines rising with prices. Weekly price above Value Zone. Weekly 34EMAs at 3 o’clock (accumulation). Weekly ranges narrowing, and Buyers unable to make new high while MACDH made a higher apex. Weely price above MA Envelope. Daily price above Value Zone. Daily 34EMAs at high 3 o’clock (entering accumulation period). Close at high edge of… Read More »

sandiegojp
Member
👍491

Re: $CTIX chart analysis TSM – No trade P/V – Higher Vol but narrower Range. Close near Low (17% off). Lower High and Close. Higher Low and Open. EMAs rising. Fast < Slow, >0, falling. MACDH <0, inching down. 2FI flat at 0. Weekly MACDH falling with price. Weekly price above Value Zone. Weekly 34EMAs at upper 3 o'clock (entering accumulation period). Weekly price above MA Envelope. Long term, prices should fall and consolidate. Daily MACDH and MACD lines falling in line with price. Daily price above Value Zone. Daily 34EMAs at 3 o'clock (accumulation). Price mid-range of MA Envelope.… Read More »

sandiegojp
Member
👍491

Re: $ESPR chart analysis TSM – No trade P/V – Higher Vol (318 shares; 0.4% of 12/24 Vol), and wider Range. Close nearer High (35% off). Higher High, Low, Open and Close. EMAs rising. Fast < Slow, >0, flat. MACDH <0, inching down. 2FI setting to cross >0. Weekly MACDH falling along price. Weekly price above Value Zone. Weekly 34EMAs entering accumulation period. Weekly price above MA Envelope. Long term, prices should be lower. Daily MACDH is flat <0 while price rise creating a bearish divergence. Daily price above Value Zone. Daily 34EMAs entering accumulation period. Daily price mid-Range of… Read More »

sandiegojp
Member
👍491

Re: $GILD chart analysis TSM – No trade P/V – Lower Vol and narrower Range. Close near High (28%). Higher High, Low, Open and Close. EMAs falling. Fast < Slow, <0, falling (strong sell signal when EMAs are also falling). 2FI <0, rising. Weekly prices are falling in line with MACDH, MACD lines and 2FI. Weekly price below Value Zone. Weekly 34EMAs entering accumulation period. Weekly price at bottom of MA Envelope. Long-term prices should rise and stabilize. Daily MACDH and MACD lines showing a bearish divergence. Daily price below Value Zone. Daily 34EMAs falling (short/sell). Daily price at bottom… Read More »

sandiegojp
Member
👍491

Re: $NBY chart analysis TSM – No trade P/V – Higher Vol but narrower Range ($0.01). Close nearer Low (33% off). Higher High, Low and Open. Lower Close. EMAs falling. Fast > Slow, <0, inching up. MACDH >0, inching down. 2FI <0, inching down. Weekly price falling in line with MACDH and MACD lines. Weekly price below Value Zone. Weekly 34EMAs in accumulation period. Weekly Close at bottom edge of MA Envelope. Long term prices should stabilize. Daily price falling long MACDH but MACD lines rising, showing bullish divergence. Daily price below Value Zone. Daily 34EMAs in accumulation period. Daily… Read More »

sandiegojp
Member
👍491

Re: $TLOG chart analysis TSM – No trade P/V – Lower Vol but narrower Range ($0.01). Close near High (19% off). Higher High, Low, Open and Close. EMAs falling. Fast < Slow, Fast dipped <0, Fast and Slow falling (strong sell signal when EMAs falling). MACDH <0, rising. 2FI flat slightly <0. Weekly price falling with MACDH and MACD lines. Weekly price below Value Zone. Weekly 34EMAs at accumulation period. Weekly price at lower end of MA Envelope. Daily price rising in line with MACDH but MACD lines indicating a bearish divergence. Daily price below Value Zone. 34EMA at accumulation… Read More »

sandiegojp
Member
👍491

Re: $XENE chart analysis TSM – No trade P/V – Higher Vol and wider Range. Close near High (27% off). Higher High, Low, Open and Close. EMAs rising. Fast setting to cross > Slow, Fast rising, Slow inching down, both >0. MACDH setting to cross >0. 2FI >0, rising. Weekly price and MACDH and MACD lines rising. Weekly price above Value Zone. Weekly 34EMAs at accumulation period. Daily price, MACDH and MACD line rising. Daily price above Value Zone. Daily 34EMAs at accumulation period. Daily price at upper edge of MA Envelope. Expect Buyers to be in charge. For the… Read More »

sandiegojp
Member
👍491

Re: Larry Williams Today Mr. Williams discusses the proper use of indicators (Hint: use fewer and use them in the same timeframes). ********** My gosh…are there ever a lot of stock and commodity market indicators. I certainly miss the old days, back then we had about six or seven indicators and that was it. I just took a quick look at the functions available in Genesis. These are basically indicators. I came up with a tally of over 1000 “tools of the trade” just waiting there for us to use. What should we make of all this? What indicators should… Read More »

Add a Topic
5971
sandiegojp
Member
👍491

Re: $ACHN chart analysis TSM – No trade P/V – Lower Vol and narrower Range. Close nearer Low (29% off). Lower High, Open and Close. Higher Low. 22EMAs inching down. 50EMA flat. Fast < Slow, >0, falling. MACDH <0, falling. 2FI setting to cross >0. Weekly MACDH and MACD lines are in synch with prices and indicate further long term weakening. Weekly close at upper edge of Value Zone. However, weekly 34EMAs are still indicating an uptrend. Price at mid-Range of Weekly MA Envelope. Daily MACDH and MACD lines in synch with price. Daily Close below an extremely narrow Value… Read More »

sandiegojp
Member
👍491

Re: $AGIO chart analysis TSM – No trade P/V – Lower Vol and narrower Range. Close nearer High (26% off). Higher High, Low, Open and Close. EMAs rising. Fast < Slow, >0, falling but flattening. MACDH <0, rising. 2FI crossed >0. Weekly MACDH and MACD lines showing a slight bearish divergence. Weekly price above Value Zone. Weekly 34EMAs indicate an accumulation period. Weekly price at lower edge of MA Envelope. Daily MACDH and MACD lines are showing a Bearish divergence. Daily close above Value Zone. Daily 34EMAs indicate an uptrend. Daily close near mid-Range of Value Zone. Buyers should remain… Read More »

sandiegojp
Member
👍491

Re: $ARWR chart analysis TSM – No trade P/V – Higher Vol and wider Range ($0.01). Close near mid-Range (1% off). Higher High, Low, Open and Close. 50EMA inching down. 22EMA inching up. MACDH >0, inching down. Fast > Slow. Fast crossed >0. Slow setting to cross >0. 2FI crossed >0. Weekly MACDH and MACD line in synch with price. Daily price at lower edge of Value Zone. Weekly 34EMAs indicate a downtrend. Daily MACDH showing slight Bearish divergence. Daily Close above rising Value Zone. Daily 34EMAs indicate an accumulation period. Expect Buyers to remain in charge. For the record,… Read More »

sandiegojp
Member
👍491

Re: $CLDN chart analysis TSM – No trade P/V – Higher Vol and wider Range. Close near High (18% off). Higher High, Low, Open and Close. Fast > Slow. Fast rising, Slow inching up. MACDH rising. 2FI rising. Weekly MACDH and Lines in synch with Close. Weekly Close above rising Value Zone. Weekly 34EMAs on a slight uptrend. Weekly Close above rising MA Envelope. Daily MACDH and Lines in synch with Close. Daily Close above rising Value Zone. Daily 34EMAs in an uptrend. Daily Close at upper edge of MA Envelope. Expect Buyers to remain in charge. For the record,… Read More »

sandiegojp
Member
👍491

Re: $CTIX chart analysis TSM – No trade P/V – Higher Vol and Wider Range. Close near High (6% off). Lower High, Low, Open and Close. Huge effort by Sellers who were bulled over by the Buyers with Close very near High. EMAs flat. Fast > Slow, falling. MACDH falling. 2FI flat. Weekly 2FI spiked at a level many times higher than any previous peaks indicating an exhaustion of Bears. Weekly 22MACD Lines showing a Bullish divergence while 50EMA shows an accumulation period. Weekly Close above rising Value Zone. Weekly 34EMAs on slight uptrend. Daily Close in synch with MACDH… Read More »

sandiegojp
Member
👍491

Re: $ESPR chart analysis TSM – No trade P/V – Higher Vol and wider Range. Close near Low (25% off). Higher High and Open. Lower Low and Close. EMAs rising. Fast < Slow falling. MCADH falling. 2FI falling. Weekly 2FI is showing a Nearish trend. Weekly MACDH tracks Close. 26EMA is showing Bullish divergence. Weekly Close above rising Value Zone. Weekly 34EMAs showing accumulation period. Daily MACDH and Lines match Close. Daily Close at upper edge of Value Zone. Daily 34EMAs entering accumulation period. Daily Close at mid-Range of MA Envelope. Expect Sellers to continue in charge. For the record,… Read More »

sandiegojp
Member
👍491

Re: $GILD chart analysis TSM – No trade P/V – Higher Vol but narrower Range ($0.03). Clse near High (6% off). Higher High, Low, Open and Close. EMAs falling. MACDH rising. 12EMA just reversed to rise. 26EMA falling. 2FI rising. Weekly MACDH and MACD Lines showing a bearish divergence. Weekly MACDH and MACD Lines showing a bearish divergence. Weekly Close below narrowing Value Zone. Weekly 34EMAs in a consolidation period. Daily at lower edge of flattening Value Zone. Daily 34EMAs entering shorting period. Daily price in mid-Range of MA Envelope. Expect Buyers to remain in charge. For the record, yesterday’s… Read More »

sandiegojp
Member
👍491

Re: $NBY chart analysis TSM – No trade P/V – Lower Vol but wider Range. Close near High (20% off). Lower High, Low and Open. Higher Close. MACDH, MACD Lines and 2FI rising. Weekly MACDH and Lines showing a slight bearish divergence. Weekly Close below falling Value Zone. Weekly 34EMAs in shorting territory. Daily MACDH and Lines in synch with Close. Daily Close at lower edge of narrow Value Zone. Daily 34EMAs in an accumulation period. Daily Close at mid-Range of MA Envelope. Expect Buyers to remain in charge in narrow Range. For the record, yesterday’s “call” was RIGHT. This… Read More »

sandiegojp
Member
👍491

Re: $TLOG chart analysis
TSM – No trade
P/V – Higher Vol and wider Range. Close at Low (4% off). Higher High, Low and Open. Lower Close. Weekly MACDH and Lines in synch with Close. Weekly Close below Value Zone. Weekly 34EMAs in accumulation period. Daily MACDH and Lines in synch with Close. Daily Close below narrow Value Zone. Daily Close at lower edge of MA Envelope. Expect Sellers to remain in charge.
For the record, yesterday’s “call” was WRONG.
This is NOT a recommendation to BUY/SELL TLOG. Full disclosure: Long TLOG.

sandiegojp
Member
👍491

Re: $XENE chart analysis TSM – No trade P/V – Higher Vol and wider Range. Close near High (19% off). Higher High, Low, Open and Close. EMAs rising. Weekly MACDH and Lines in synch with Close. Weekly Close above rising Value Zone. Weekly 34EMAs beginning to enter uptrend period. Daily MACDH and Lines in synch with Close. Daily Close above rising Value Zone. Daily 34EMAs in accumulation period. Daily Close above MA Envelope. Expect Buyers to remain in charge. If 2FI turns, this could mean exhaustion of bulls and price reversal. For the record, yesterday’s “call” was RIGHT. This is… Read More »

sandiegojp
Member
👍491

Re: $ACHN chart analysis TSM – No trade P/V – Lower Vol and narrower Range. Close near Low (19% off). Lower High, Low, Open and Close. Weekly MACDH and Lines in synch with lower Close. 22EMA rising. 11EMA turned down. Close still above 50EMA indicating Long opportunities. Weekly 34EMAs still indicating uptrend. Daily MACDH and Lines in synch with lower Close. Daily Close below Value Zone (Value Zone is 0 as EMAs have met). Daily 34EMAs in accumulation period. Daily Close below 50SMA indicating shorting opportunity. Daily Close at lower edge of MA Envelope. Daily Ranges have been narrowing in… Read More »

sandiegojp
Member
👍491

Re: $AGIO chart analysis TSM – No trade P/V – Higher Vol and wider range. Close near Low (8% off). Lower High, Low and Close. Higher Open. Weekly MACDH in synch with lower Close. Weekly MACD lines showing slight Bullish long-term divergence. Weekly Close above Value Zone. Weekly Close above 50SMA indicating long opportunity. Weekly 34EMAs indicate an accumulation period. Daily MACDH and Lines in synch with lower Close and indicating continuing weakness. Daily Close at upper edge of flattening Value Zone. Daily 34EMAs rising indicating Long opportunity. Daily Close at mid-Range of MA Envelope. Expect Sellers to remain in… Read More »

sandiegojp
Member
👍491

Re: $ARWR chart analysis TSM – No trade P/V – Higher Vol (730% of 12/29 and 365% of Avge.) and wider Range. Close near mid-Range (1% off). Higher High, Low, Open and Close. Weekly MACDH and Lines in synch with rising Close. Weekly Close near mid-Range of flattening (previously falling) Value Zone. Weekly 34EMAs flattening into accumulation period. Weekly below 50SMA. Daily MACDH and Lines in synch with rising Close. Daily Close above rising Value Zone. Daily 34EMAs entering Long opportunity period. Daily Close above 50SMA indicating Long opportunity. Daily Close above MA Envelope. Expect Buyers to remain in charge.… Read More »

sandiegojp
Member
👍491

Re: $CLDN chart analysis
TSM – No trade
P/V – Lower Vol and narrower Range. Close near Low (15% off). Lower High and Close. Higher Low and Open. Weekly MACDH and Lines in synch with rising Close. Weekly Close above rising Value Zone. Weekly 34EMAs in slight uptrend. Daily MACDH and Lines in synch with lower Close. Daily Close above rising Value Zone. Daily Close above rising 50SMA. Daily Close near upper edge of MA Envelope. Expect Sellers to be in charge.
For the record, yesterday’s “call” was WRONG.
This is NOT a recommendation to BUY/SELL CLDN. Full disclosure: Long CLDN.

sandiegojp
Member
👍491

Re: $CTIX chart analysis TSM – No trade P/V – Higher Vol (~10K) but narrower Range. Close near High (12% off). Higher High, Low, Open and Close. Weekly MACDH showing Bearish divergence. Weekly MACD lines in synch with rising Close. Weekly Close above flatterning Value Zone. Weekly 34EMAs rising – Long. Weekly Close above rising 50SMA. Daily MACDH in synch with rising Close. Daily MACD Lines showing Bearish divergence. Daily Close above rising Value Zone. Daily 34EMAs flattening – accumulation period. Daily Close above rising 50SMA. Daily Close above mid-Range of MA Envelope. Expect Buyers to remain in charge. For… Read More »

sandiegojp
Member
👍491

Re: $ESPR chart analysis TSM – No trade P/V – Higher Vol (371% of 12/29) and wider Range. Close near mid-Range (1% off). Higher High, Low, Open and Close. Weekly MACDH showing Bearish divergence. Weekly MACD Lines in synch with rising Close. Weekly Close above rising Value Zone. Weekly Close above rising 34EMAs – Long. Weekly Close above 50SMA – Long. Daily MACDH and Lines in synch with rising Close. Daily Close above rising Value Zone. Daily 34EMAs flattening – Accumulation period. Daily Close above rising 50SMA. Expect Buyers to remain in charge. For the record, yesterday’s “call” was WRONG.… Read More »

sandiegojp
Member
👍491

Re: $GILD chart analysis TSM – No trade P/V – Lower Vol but wider Range. Close near Low (7% off). Higher High and Open. Lower Low and Close. Weekly MACDH and Lines showing Bearish divergence. Weekly Close below falling Value Zone. Weekly 34EMAs flat – Accumulation. Weekly Close above 50SMA. Daily MACDH showing Bullish divergence. Daily MACDH Lines in synch with Close. Daily Close below flattening Value Zone. Daily 34EMAs flattening – Accumulation. Daily Close below flat 50SMA. Daily Close near lower edge of MA Envelope. Expect Buyers to be in charge. For the record, yesterday’s “call” was WRONG. This… Read More »

sandiegojp
Member
👍491

Re: $NBY chart analysis TSM – No trade P/V – Higher Vol and same Range as 12/29. Higher High, Low and Open. Close at 12/29 level. Close nearer High (40% off). Weekly MACDH and Lines in synch with Close. Weekly Close below falling Value Zone. Weekly 34EMAs falling – Short. Weekly Close below falling 50SMA – Short. Daily MACDH and Lines showing Bullish divergence. Daily Close at lower edge of falling Value Zone. Daily 34EMAs falling – Short. Daily Close below falling 50SMA. Expect Buyers to be in charge. For the record, yesterday’s “call” was neither RIGHT nor WRONG (close… Read More »

Add a Topic
899
Add a Topic
899
Add a Topic
899
sandiegojp
Member
👍491

Re: $TLOG chart analysis TSM – No trade P/V – Higher Vol and wider Range. Close near High (3% off). Lower High, Low and Open. Higher Close. Weekly MACDH and Lines in synch with Close. Weekly MACD Lines showing slight Bullish divergence. Weekly Close below 0 Value Zone. Weekly 34EMAs flat – Accumulation. Weekly Close below 50SMA – Short. Daily MACDH in synch with Close. Daily MACD Lines showing slight Bearish divergence. Daily Close below falling Value Zone. Daily 34EMAs falling – Short. Daily Close below slightly rising 50SMA. Daily Close at mid-Range of MA Envelope. Expect Buyers to be… Read More »

Add a Topic
899
Add a Topic
899
Add a Topic
899
sandiegojp
Member
👍491

Re: $XENE chart analysis
TSM – No trade
P/V – Lower Vol and narrower Range. Close at Low (2% off). Higher High, Low and Open. Lower Close. Weekly MACDH and Lines in synch with rising Close. Weekly above rising Value Zone. Weekly 34EMAs flat – Accumulation. Daily MACDH and Lines showing a Bullish divergence. Daily Close above rising Value Zone. Daily 34EMAs slight rising. Daily Close above MA Envelope. Expect Sellers to remain in charge.
For the record, 2FI turned and call was RIGHT.
This is NOT a recommendation to BUY/SELL XENE. Full disclosure: Long XENE.

sandiegojp
Member
👍491

Re: $ACHN chart analysis TSM – No trade P/V – Higher Vol but narrower range ($0.02). Close near Low (4% off). Higher High and Low. Lower Open and Close. 22EMA falling. 50EMA dipping down. MACDH and MACD Lines falling (strong sell signal when combined with falling 22-50EMAs. 2FI rising slightly. Weekly Low at Support level. Weekly MACDH and MACD Lines in synch with lower Close. Weekly 2FI showing bullish divergence. Weekly EMA rising. 50EMA crossed over 200EMA. Daily Close below Value Zone. Daily Close at lower edge of MA Envelope. Close of the last 3 days on very narrow range… Read More »

sandiegojp
Member
👍491

Re: $AGIO chart analysis TSM – No trade P/V – Lower Vol and narrower Range. Close near Low (10% off). Lower High, Low, Open and Close. Weekly Chart – MACDH in synch with Close. MACD lines and 2FI showing a slight Bullish divergence. 22-11EMAs rising. 34EMAs rising. Weekly indicators/oscillators indicating rising SP but signals are mixed. Daily chart – MACDH and MACD Lines in synch with Close. 11EMA flat. 22EMA rising. 50EMA rise is much steeper than 200EMA. Close at mid-Range of MA Envelope. Position of the close and Buyers inability to hold the High (higher than 12/30 High) reflects… Read More »

sandiegojp
Member
👍491