Daily Chart Views

There was some damage done to the weekly trend on most of the Indexes this week. The Nasdaq clearly broke its rising trend (some have called this a rising wedge) and could serve as temporary resistance until broken (or resumed). The 20 period moving average acted as support, and may continue to do so until…

Down from the highs we go!  At least temporarily. Yesterday we looked at our negative divergence in Market Internals which suggested a likely pullback (lower) in price… and here it continues today. Here’s today’s updated Emini (@ES) trading levels for your trades: I’m plotting Breadth (Advancing minus Declining Issues) with price to highlight the negative…

Today certainly won’t be remembered as an ordinary, average day! At mid-day, stock prices are collapsing in a liquidation swing as sellers broke price under a key support level (opening the bearish pathway we see now). Let’s update our S&P 500 chart and highlight the top trending stocks of the day as usual: We saw…

Bear Trap! Twitter shares surprised investors and traders with a strong gap lower in late July, only to power-rally higher in August. This locks in a Bear Trap outcome and reminds us of the risks and opportunities of active trading. Here’s the Trap and what to expect from here: A Bear Trap occurs when price…

I wanted to show a critical inflection point currently in the GLD and Gold charts, namely a key support level which will mark the boundary between a swing back to the upside or a continuation of the bear flag in development. Let’s take a look.

I wanted to highlight Goldman Sachs (GS) as it is in a structurally similar position to Caterpillar (CAT) which I mentioned in the previous post.  Let’s see the confluence support below and possible resistance above and watch price closely for a break. Goldman Sachs (GS) Daily: Goldman Sachs broke an ascending triangle to also break…