Amazon’s (AMZN) solidly earnings beat expectations yesterday, resulting in a breakout and stock surge higher. However, a bullish reversal pattern – coming off a critical support level – preceded this breakout and gives us a great chance once again to study this important reversal pattern. Let’s chart the pattern and then identify current price levels…
A reader asked me to take a look at MannKind (MNKD) and I wanted to highlight a couple of important lessons from the stock and what levels are important at the moment. Let’s learn a quick lesson about momentum divergences and trend reversals from this stock. Let’s take this chart one step at a time….
After the Fed Day Wednesday, stocks simply traded down to the lower support of the rising trendline and today rallied up logically from the key level. We’ll start with the ongoing triangle in the S&P 500 which helped us trade today so far: For a broader discussion on this ongoing and important pattern, see my…
It’s no longer a “stealth” movement but a blatant, obvious development that Bond/Treasury prices have surged in the last few months and continue persistent uptrends thanks to bullish money flow. Take a moment to review the prior two updates: “Are You Seeing this Stealth Move in Bond Prices?!” and “Four Strong Trends Kicking Off 2015”…
With the Federal Reserve’s announcement just behind us, let’s update our levels in the aftermath and highlight our top trending stock opportunities of the day (some from earnings announcements). We’ll start with the ongoing triangle in the S&P 500: For a broader discussion on this ongoing and important pattern, see my update post “Plotting the…
Caterpillar (CAT) shares shattered support at the $85.00 per share level on an earnings miss this morning. Wall Street consensus estimated a gain of $1.55 per share yet the actual reported earnings were $1.35 per share. Traders subsequently punished the stock with a downside gap and break of a trendline and key support level. Here’s…
What goes up must come down, and in the market, what goes sideways must break out. We’re currently charting a wide range pattern but soon, we’ll need to shift gears for a breakout event, so let’s plan both of these events and be ready to jump in when the market tells us it’s safe to…
Stocks stalled after surging from the QE intervention announcement in Europe. However, today’s session saw a sharp recovery and we’ll begin our update with the bigger picture chart. Here’s the intraday S&P 500 and levels to watch for planning: Thursday’s session saw a straight-up rally as expected from the announcement that the ECB would intervene…
If you didn’t catch Netflix (NFLX) off the critical support level, and now the breakout event, have you missed the boat on profiting from this rally? Let’s take a look at the chart, key levels, and yes the upside targets to play for from here. We’ll start with the Daily Chart: Price gapped lower in…
Like the expected knee-jerk reaction, stocks rallied on news that the European Central Bank will engage in a Quantitative Easing program similar to that in the United States (three rounds). With the expected bullish outcome occurring, our job is to go with the money flow as stocks rally while being cautious of any sign of…