Copper is a metal that has been said to lead the market, since it is so widely used in the manufacturing  construction etc.   Because of this copper is closely followed and is called Dr. Copper so when the price of Copper begins to fall or rise it is consider to [...]

ARNA has formed a nice ascending triangle pattern and if it can breakout it would potential be a 20% move higher. ARNA’s triangle needs to break above 9.44 to start, the next strongest resistance level ist at 9.99.  If it breaks this a move to the 11.68 price target is very [...]

During this current dip there is one sector that just has not been following the market and that is the financials.  Typically this sector should lead the market or move insync, rarely do you see it move opposite of the market.  You can see it moved in sync with the [...]

Just a quick chart here on AMZN which was smoked today after it broke below key support at 250.50. Realistically its possible to see AMZN drop down another 6% to 230.25.  There is no support below AMZN till the 235 level but even that is weak.  A strong level for this stock [...]

The dollar is at a key point here that could have implications on the market.  Last week there was the potential for the dollar to decline another 3% if it could break its bear flag.  It did but was able to bounce and climb back up to 80, now this [...]

SPY finally broke out of its short-term trend which was the bottom of the bear flag mentioned a week ago.  Based on this break, SPY still looks like it wants to head back towards the 140.92 level.  The more important support level that needs to break before we can head [...]

XOM has formed a ascending triangle pattern over the last two weeks. Resistance has been at 92.55 which formed the top of the triangle. This is a consolidation move after running up 3% on 9/14. If XOM can break above 92.55 it potentially could set off a 3 point measured move [...]

Since 9/17 the dollar has enjoyed a small little rally after being beaten down badly over the summer.  It was noted here that the 78.80 level could act as strong support for the dollar and end the decline.  This level has acted as support and send the dollar higher but [...]

KMP has formed a perfect ascending triangle pattern which it broke out of yesterday. There is the potential for a 3% + move based on the size of the triangle. Putting KMP at around $86. The breakout is voided if it drops below $83.24. Read more from Piker Trader

Today’s reversal was significant, it shows strong selling into an area once thought to be a great buying opportunity.  This shows that there is fear in the market at these levels.  Looking at this through a technical lens there are two things patterns that are forming both of which are [...]

SPY has been slowly trending downwards in a tight channels over the past few days, and this decline has picked up speed trending lower after a break of the 146.26 level.  This decline has formed two technical patterns.The first pattern is obvious and is just a simply downards channel which [...]

Chopping away here as the market is continuing the pattern of last week.  Where the market ripped up followed by chop only to rip up again.  This what we have again this week; the europhia of QE Plenty seems to have worn off and and the market is chopping around [...]