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Article Archive For Chris Manuell
DownloadWorking Money: On Oil: Reversals, Candlesticks, And Gaps by Chris Manuell
Euro Ripe For A Bounce
ARTICLE SYNOPSIS ...The euro has endured a healthy correction since late December and appears poised to resume the uptrend....
Terra Nitrogen And The Evening Star Formation
ARTICLE SYNOPSIS ...Terra Nitrogen, which produces and distributes nitrogen fertilizer products, has appreciated 88% since October 2002. But a major candlestick formation has emerged to stall that rally....
Phelps Dodge -- Wave Five Unfolding?
ARTICLE SYNOPSIS ...As a major industrial commodity, copper is linked to the economy and the stock market. As a result, copper producer Phelps Dodge should be able to guide market participants....
Hammering Out A Potential Double Bottom With Wal-Mart
ARTICLE SYNOPSIS ...Wal-Mart completed a powerful candlestick reversal pattern, the hammer, on September 23, 2004, which was reinforced by the fact that it marked a rejection of yearly lows at 51.08 from August 9....
Gold & Silver Index -Ascending Triangle
ARTICLE SYNOPSIS ...Gold is a widely followed and important commodity in the financial market jigsaw puzzle. While a popular trading vehicle in its own right, it also has a strong inverse relationship with the US dollar. Unravelling the direction of gold can provide traders with an insight into the behaviour of other assets and is integral in any intermarket analysis....
Shanghai Composite Index Springs From Cycle Low
ARTICLE SYNOPSIS ...The Shanghai Composite Index (SSEC) tracks yuan-denominated Class A shares and dollar-denominated Class B shares....
Eastman Kodak - Shooting Stars
ARTICLE SYNOPSIS ...Eastman Kodak (EK) may be synonymous with shooting stars on the red carpet but another form of shooting star may be responsible for a pause in activity....
SOX Bounces From Turning Point
ARTICLE SYNOPSIS ...The semiconductor index (SOX) is a useful barometer for the equity market and it has remained in a steady downtrend for 2004. Recently the market has enjoyed a sharp bounce upward, perhaps signaling a change in the downward trend....
30-Year Treasury Bond - Daily Bullish Rising Channel
ARTICLE SYNOPSIS ...The US 30-year bond has enjoyed an orderly summer rally, which can be demonstrated with the bullish rising channel on the daily chart. Short-term traders could use candlestick analysis in conjunction with the boundary lines of the channel to locate potential swing points....
British Pound - Head & Shoulders Formation
ARTICLE SYNOPSIS ...The British pound is poised to move lower after completing a head & shoulders reversal formation....
Petrochina - Ascending Triangle
ARTICLE SYNOPSIS ...Petrochina (PTR) has developed a bullish ascending triangle that could propel the stock towards its December high of 63.70....
IBM - Potential Head & Shoulders Bottom
ARTICLE SYNOPSIS ...IBM has remained in a steady downtrend since February this year after topping out around the century mark. Is a new uptrend about to commence?...
Eli Lilly And The Corrective Bounce
ARTICLE SYNOPSIS ...Eli Lilly has moved aggressively lower since making a yearly high in May, but it has bounced sharply in recent days as it attempts to alleviate a historically oversold position....
Three Indices And Out
ARTICLE SYNOPSIS ...The DJIA is making yearly lows, and because of it, there is a marked divergence with other indices....
Dow Donuts Or Donoughts
ARTICLE SYNOPSIS ...Traders, technicians, and even fundamentalists are all well versed in the theory of round numbers as support and resistance levels. The 10,000 level in the Dow Jones Industrial Average has acted as a magnet this year with prices reticent to stray too far from that level -- this time might be different.Traders, technicians, and even fundamentalists are all well versed in the theory of round numbers as support and resistance levels. The 10,000 level in the Dow Jones Industrial Average has acted as a magnet this year with prices reticent to stray too far from that level -- this time might be diff...
Texas Tea Top?
ARTICLE SYNOPSIS ...Oil has had a remarkable spurt higher in recent days and appears to be the engine of the financial markets. However, a combination of indicators suggests that a correction is nigh....
A Pair Of SOX
ARTICLE SYNOPSIS ...In recent days, the Philadelphia Semiconductor Index (SOX) has enjoyed a mild corrective bounce from its long-term support zone....
Oil Stocks And Oil
ARTICLE SYNOPSIS ...Recently, three big US-based oil companies demonstrated candlestick reversal patterns at the same time. What's that signify?...
The Nikkei's Potential Triangle
ARTICLE SYNOPSIS ...The Japanese financial markets are a technician's ideal stage. The Nikkei is no exception and is currently manifesting a symmetrical triangle formation....
IBM: Head & Shoulders, The Sequel
ARTICLE SYNOPSIS ...IBM continues to develop characteristics that suggest it is attempting to arrest the slide from this past February, and price activity in the coming days could qualify its trend....
Bullish Engulfing & Rising Window In Libbey
ARTICLE SYNOPSIS ...Libbey has endured a steady downtrend since July, punctuated with a high-volume collapse, down 14% on August 17. Bulls appear to be mounting a challenge, with a couple of candlestick patterns emerging to quell the selling....
Banking Index Weekly: Bullish Engulfing
ARTICLE SYNOPSIS ...The Banking Index completed a bearish engulfing pattern on the weekly chart at the March peak, which may presage lower prices....
Is FedEx Passing The Parcel?
ARTICLE SYNOPSIS ...Could the specter of higher interest rates be a speed bump for Fed Ex? Some bearish signs suggest a correction in the near term....
Yen Diamond: Friend Or Foe?
ARTICLE SYNOPSIS ...The Japanese yen strength has been on the radar of most market players due to the currency's wide-ranging implications from Japanese exporters to US Treasury traders. The market appears at an important juncture....
Home Depot Bearish Engulfing
ARTICLE SYNOPSIS ...Home Depot encountered some aggressive profit-taking -- in line with other retailers -- to complete a bearish engulfing pattern on the daily chart....
10-Year Note Falling Wedge
ARTICLE SYNOPSIS ...Following the FOMC's recent decision to raise interest rates by 25 basis points, it appears that 10-year note yields are also set for a move up in the near term....
Light Crude Poised To Resume Uptrend
ARTICLE SYNOPSIS ...Oil has temporarily alleviated the recent overbought condition and inflationary concerns with a seasonal fall in October. It now appears poised for a resumption of the uptrend....
Petrifying Pattern In Gold & Silver Index
ARTICLE SYNOPSIS ...The Gold and Silver Index has produced a stealth-like rally from early May this year; is its luster fading?...
Five-Year Note Double Bottom
ARTICLE SYNOPSIS ...The five-year US Treasury note often represents a good barometer for the US yield curve and recently completed a double bottom, suggestive of higher yields....
Wal-Mart Completes Double Bottom
ARTICLE SYNOPSIS ...Wal-Mart joined in the re-election euphoria to complete a very reliable reversal pattern -- the double bottom....
The DJIA's Weekly Key Reversal
ARTICLE SYNOPSIS ...The Dow Jones industrials completed a weekly key reversal last week, which may support the seasonal bottom that often occurs in October....
Euro At Half-Mast
ARTICLE SYNOPSIS ...The euro recently escaped from a confined trading range with a sharp move higher, confirming the breakout, and is now pausing for breath....
DJTA , DJIA, And Divergence
ARTICLE SYNOPSIS ...The Dow Jones Transportation Average has recently recorded yearly highs marking a distinct divergence with the Dow Jones Industrial Average, which has recently bounced from a yearly low. Can this divergence be sustained?...
On Oil: Reversals, Candlesticks, And Gaps
ARTICLE SYNOPSIS ...Recent developments in the light crude oil price charts may give us a hint of what's to come....
Bearish Engulfing Points To Correction In Euro
ARTICLE SYNOPSIS ...The euro remains at lofty levels and the emergence of a second bearish engulfing pattern within a few weeks suggests a correction is warranted....
Kenneth Cole Has Potential Bullish Head & Shoulders Pattern
ARTICLE SYNOPSIS ...Head and shoulders reversal patterns are the Labrador retrievers of chart formations--reliable and popular. Kenneth Cole Productions is setting up for a bottom head and shoulders reversal pattern....
NEC: Cup With Handle
ARTICLE SYNOPSIS ...The recent depreciation in the yen has provided welcome relief for some Japanese stocks; NEC appears to have benefited following a decline since April....
Pharmaceutical Index Bullish Ascending Triangle
ARTICLE SYNOPSIS ...The Pharmaceutical Index stalled the decline for 2004 in October and has developed a potential bullish ascending triangle....
Nikkei Poised For A Powerful Move
ARTICLE SYNOPSIS ...The Nikkei has had the weight of a sumo wrestler on its shoulders in 2004 with a strong yen and high oil prices. Could 2005 provide some relief?...
Gold In The RSI Danger Zone
ARTICLE SYNOPSIS ...Gold plays a key role in the intermarket jigsaw puzzle. Given its high negative correlation with the US dollar -- particularly evident in recent months -- the weekly relative strength index highlights the overbought condition of gold....
The US Dollar Index's Bullish Engulfing Pattern
ARTICLE SYNOPSIS ...The US Dollar Index completed a bullish engulfing pattern that may stall the decline in the near term....
Dow Utility's Three Black Crows
ARTICLE SYNOPSIS ...The Dow Jones Utility Average is extremely sensitive to interest rates, and the recent move higher in yields has resulted in a few cracks emerging in the index....
WMS - Do You Feel Lucky?
ARTICLE SYNOPSIS ...WMS Industries Inc.'s subsidiary WMS Gaming Inc. announced on August 25 that they had entered into a licensing agreement with Hollywood icon, Clint Eastwood, to deliver slot machines based on the actor's rugged profile. The enthusiastic response of the market following the announcement suggest that Dirty Harry earns as much respect on Wall St. as Pine St....
Agricultural Index 2B Hammer
ARTICLE SYNOPSIS ...The agricultural index looks to reverse a downtrend that started in April 2004....
Honeywell Hammer
ARTICLE SYNOPSIS ...Honeywell (HON) completed a textbook hammer formation on the daily chart on August 13....
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