Retracement or V-Spike Reversal? So far, buyers aggressively defended the 1,930 index level and now short-sellers may be on the run after an impressive victory – at least for today. Let’s update our S&P 500 chart, note Sector Breadth, and focus on the top trending stocks of the session: Price plunged down away from the…
When assessing the probability of a retracement (meaning the trend will continue) or larger reversal (meaning we’ll see a steep retracement or possible trend reversal), it’s often helpful to look at Market Breadth and other internals. Let’s update our Market Breadth Charts for the entirety of 2014 and note a clear warning sign from NYSE…
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…
Ford shares (F) broke a critical support level and collapsed instantly toward the current key level where we’ll be watching for a reaction. We can study this textbook example (of a sudden yet telegraphed market reversal) as we focus on the current pivot support. Here’s the Daily Chart with breakdown: Shares rallied most of 2014…
For those awaiting a breakout in Chipotle shares (CMG), the wait may be coming to an end. Shares currently remain compressed between the 20 and 50 EMAs as traders await a range (and EMA) breakout. Let’s update our charts and plot the “Breakout Pathways” for trading this stock: I initially highlighted this “EMA Compression” last…
New low? Reversal? Retracement? Let’s take a look at our intraday S&P 500 for today’s update and highlight the up and down trending stocks of the session for possible opportunities to trade into the close. We’re taking a broader perspective of the intraday chart to highlight the current (short-term) Fibonacci Retracement levels as drawn. We…
You may not be aware that Disney (DIS) is one of the strongest trending stocks in the Dow Jones and S&P 500 right now and has been since its breakout in mid-2012. Let’s start with the Monthly Chart (where the magic is) and study this stock from there: I wanted to focus this post on…
Chipotle shares (CMG) are forming an “EMA Compression” trade set-up which is a specific type of breakout pattern. Let’s see the chart, note the trigger levels, and plan a strategy for those interested in this high-priced stock. A few things jump off the chart at us at first glance. First, there’s the price pivot point…
Following up from the prior “Pullback Planning Update,” let’s take a quick look at the broader S&P 500 and Dow Jones to note the logical pullback (retracement) toward the rising weekly targets. Let’s start with the S&P 500: Focus our attention on the price, upper Bollinger Band, and rising 20 week EMA (green). I highlighted…
Look out below! Price broke support and collapsed in a liquidation event today where the selling has (so far) been relentless. We recorded perhaps our most bearish breadth chart since I’ve been keeping record of intraday sector breadth on the open blog. Let’s see the current S&P 500, note ultra-bearish breadth, and then highlight our…