Chart Analysis » ETF http://chart-analysis.com/stocks-etfs Trend Analysis for Stocks and ETFs Thu, 18 Aug 2011 20:36:10 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Gold (GLD) Chart Cracks – 4/6/09 http://chart-analysis.com/stocks-etfs/2009/04/06/gold-chart-gld-april-6-2009/ http://chart-analysis.com/stocks-etfs/2009/04/06/gold-chart-gld-april-6-2009/#comments Mon, 06 Apr 2009 18:22:16 +0000 Alex F http://chart-analysis.com/stocks-etfs/?p=103 I charted GLD, a major Gold ETF, at 2:00 pm on April 6, 2009 to show the daily price changes for the past three months.

  • GLD broke below its trend line of higher lows three days ago and did not recover the following day
  • Today GLD broke below its shorter trend line of lower lows
  • GLD also broke below the longer-term horizontal support line of lows that used to be the point of resistance in early January
  • GLD moved below its 10, 20 and 50 day moving averages a week ago and hasn’t regained its footing yet
  • Williams %R broke away from overbought a couple of weeks ago signaling a sell point
  • Williams %R is now in oversold territory, but that does not mean it is ready to bounce yet

Opinion = The time to get out of GLD was two weeks ago when Williams %R broke.  The time to get back in will be when %R moves back out of oversold, preferably on both the 14 and 28 day indicators.

2009-04-06_gld-chart

]]> http://chart-analysis.com/stocks-etfs/2009/04/06/gold-chart-gld-april-6-2009/feed/ 0 SPY Chart – March 31, 2009 http://chart-analysis.com/stocks-etfs/2009/03/31/spy-chart-march-31-2009/ http://chart-analysis.com/stocks-etfs/2009/03/31/spy-chart-march-31-2009/#comments Tue, 31 Mar 2009 19:43:07 +0000 Alex F http://chart-analysis.com/stocks-etfs/?p=57 I charted SPY at 3:00 pm on March 31, 2009.  SPY is one of the largest S&P 500 Index ETFs.  I typically trade SSO (double SPY price action), but chart SPY for a better view of the market’s direction.

  •  All trend lines point down
  • The most recent short up trending line broke yesterday and didn’t recover today (at least not by 3:00) enough to get above it again
  • SPY is trading just below the trend line of lower highs
  • SPY is still trading below its 10 day moving average, but just above its 20 day moving average
  • SPY’s 50 day moving average could offer support, but hasn’t done much for support or resistance recently
  • Williams %R broke below overbought yesterday and is still down – this is very bearish

Opinion = The path of least resistance is going to remain lower until SPY can break out of the current trading channel.

2009-03-31_spy

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