BigMovingStock

Looking at the stock chart for Freeport-McMoRan Copper & Gold, ticker symbol FCX, I am seeing a bit of a rising wedge pattern. Let's take a look:

This guide is intended to help you navigate the Big Moving Stock website and get the most out of the features it provides. The features are based on three basic principles in approaching the stock market.

1. Price Action and Movement is the number one technical indicator.

2. Volume gives validity to the current move in price.

3. Using charts and chart patterns will improve your returns in the stock market.

With these ideas, let's take a look at some screen shots and explain what they mean.

Financial stocks did not get the expected bounce the blogosphere was anticipating today, it looks like the bullish hammers that showed up everywhere on Friday are now negated as they did not see any follow through today. Scanning the charts, I noticed C is showing itself inside a descending triangle implying further price declines.

My goal is to try and find some patterns in the market that may be forming which are relevant to trading today, not merely point out what chart patterns are in theory and list the statistics. With that being said, let's take a look at characteristics of Bear Flags and then take a look at some on the charts from some stocks that are displaying them now.

A bear flag is formed when the price of a stock takes a very large plunge lasting one or more days. Once this plunging action is complete, it will leave what looks like a vertical pole on the chart. What often follows this is a few days or more of consolidation. This is dangerous because often it gives the feeling of relief that the stock is no longer plunging, it is merely going sideways. Unfortunately this is usually just a pause in the action before the stock resumes its plunging ways. It is the same exact idea of what makes a bull flag but in reverse.

Let's start with X, which has already completed the full pattern and resulting breakdown

Hello Stock Market Fans and Friends, I hope you had a great week! It's Friday, it's been a week, let's recap what's happening on the charts. In our last installment we talked about the support and resistance in the SPY. Taking a look again we can see where we have progressed in the last few trading sessions:

An excellent example of an Ascending Triangle Chart Pattern and how to profit from it.