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Technical Analysis or News?

Technical Analysis or News?

There's been a long running debate between the technical analysis chartists and the fundamentalists and both sides can make their case for being "right".  Both sides often think that their way is best and the other side is full of you know what...

Since no one can predict the future how did the recent Federal Reserve's hawkish position on interest rates that's filled the news just so happen to occur during a time when chartists like us were anticipating a potential pull back? 

(This is an updated post to include recent news and recent charts because this scenario occurs over and over again...)

This is What I'm Binge Watching this Weekend

This is What I'm Binge Watching this Weekend
I don't watch much TV, I'm not much of a movie person and when I do watch something I typically won't watch it more than once (but yeah I've seen the classics like the original Top Gun and the new one multiple times), I'm not a "gamer" however I would consider myself a binge watcher...

What I Like to Binge Watch:
  • Billions (the hit series on Showtime)
  • Shark Tank
  • Blue Bloods (my dad is a retired police officer)
  • Trading Education Courses...

Yes, Trading Education Courses!

See which ones...

May 30 Chart of the Day - S&P 500

May 30 Chart of the Day - S&P 500

While the New York Stock Exchange (NYSE) was closed Monday in observance of Memorial Day the global after-hours electronic trading system (GLOBEX) opened as normal Sunday evening at 6pm eastern time.  And given the US debt ceiling headline news over the long weekend the S&P 500 futures ticker /ES gapped up about 20 points on the open to keep the bulls firmly in control.

On the current ES weekly chart I've only marked it up with Support/Resistance and Trend. Also known as basic structure. In this view traders can see that price often ping pongs between historical levels before proceeding in its next direction.

If you'd like to enroll in the same exact Introduction to Price Action Trading using Support/Resistance and Trend course that I took earlier in my trading career we're offering it at an incredibly low price this week revealed at this link.

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S&P 500 (Ticker /ES) Trade Plan for February 23

S&P 500 (Ticker /ES) Trade Plan for February 23
S&P 500 Trade Plan for February 23, 2023 - Follow along with ChartPros Founder Tom Winterstein as he charts in real time and takes you through bi-directional levels of interest for the S&P 500 (ticker /ES).

Forex Grid Trade Plan | February 13, 2023

Forex Grid Trade Plan | February 13, 2023
Follow along with ChartPros Founder Tom Winterstein as he charts in real time and takes you through bi-directional levels of interest for 9 major Forex pair charts.

S&P 500 Trade Plan

S&P 500 Trade Plan
S&P 500 Trade Plan for February 10, 2023 - Follow along with ChartPros Founder Tom Winterstein as he charts in real time and takes you through bi-directional levels of interest for the S&P 500 (ticker /ES).

S&P 500 Recap for February 9, 2023

S&P 500 Recap for February 9, 2023
S&P 500 Recap for February 9, 2023 - Follow along with ChartPros Founder Tom Winterstein as he charts in real time and takes you through bi-directional levels of interest for the S&P 500 (ticker /ES).

Is the S&P 500 Bear Market Over?

Is the S&P 500 Bear Market Over?

By definition, a bear market is when price drops 20% or more from its recent or all time highs.  So for the S&P 500 ticker /ES one could say that technically speaking the bear market is over because price is now approximately 15% off the all time high set back in October 2021.

But is the recent run up simply a "Bear Market Rally" or are the bulls firmly back in charge gunning for new all time highs?  See this before your next trade!

The Rise and Fall of Bitcoin from a Price Action Technical Analysis Perspective

The Rise and Fall of Bitcoin from a Price Action Technical Analysis Perspective

Seems like all the self proclaimed charting experts are suddenly appearing to claim that they "knew" that Bitcoin (ticker BTC) was going to top out and make the free fall that it did... Not so fast my friends!

For well over the past year traders have been asking us what we thought about Bitcoin and our honest answer has consistently been "it doesn't matter what we think about Bitcoin but what's important is what story the BTC chart has been telling us... You just have to know how to listen to it and pickup on the clues that it provides."

FOMC Day = Volatility!

FOMC Day = Volatility!
Last FOMC Day ES initially spiked down 60 points, spiked up 90 points, then plunged 155 points all in the 2hrs after the FOMC statement. Be prepared for similar today starting at 2pm EDT... before then anticipate choppy sideways price action.

Bear Market Trading Strategies (and their Steep Bull Rallies) Webinar

Bear Market Trading Strategies (and their Steep Bull Rallies) Webinar

You'll see the only Price Action tools needed that are native to every charting platform and how to apply them in the current volatile conditions.

As a BONUS participants will be introduced to the ChartPros Trade Entry Timing Tool that can be used anticipate market moves across a variety of timeframes and trading styles!

Recorded Thursday November 3rd, 2022 04:30 PM Eastern Time