Crude Oil may be forming an intraday reversal pattern – with divergences – off an important short-term support level. Even if you don’t trade Crude Oil, let’s study the Color Structure chart and learn a lesson on intraday trends, divergences, and reversals. We see a Color Structure chart on the 5-min (very short-term) intraday scale…
If you’re an S&P 500 or Dow Jones only trader, you may be missing the fact that the NASDAQ broke out to new highs this morning and the Russell 2000 index is close on its heels to its own fresh new breakout (while the S&P 500 and Dow lag behind). Let’s chart the breakout and…
Today’s bullish short-squeeze and continuation breakout activity confirms the bullish upward pathway that may continue to lead – once again – to new highs for the S&P 500. Let’s update our pattern, view the pathway, and study what opportunities exist for us. First, take a look at my two prior updates on this topic (before…
What are our Color Value Area Charts revealing about a key magnet price area to watch in Apple (AAPL)? Let’s take a look, starting with the Daily Chart: The TradeStation Indicator is the Trigger Charts Radar Indicator, designed to show “Market Profile” concepts in a colorful, visual format. For simplicity, focus your attention only on…
We don’t usually have exciting Sector Breadth Charts to show but today is an exception. Let’s jump straight into our August 15th intraday update and start with the unusual Breadth action: Usually the Sector Performance is relatively similar with only minor changes among the sectors. Today however, we have a huge spike in Energy and…
Even if we don’t trade commodities, it’s helpful to learn educational lessons and plan trades as they develop from interesting patterns. Corn is forming a great potential Reversal Example, but we need to monitor it in real time to determine whether this time will be different, or whether we’ll just see a repeat pattern of…
The Dow Jones faces a major decision point into a known resistance cluster – monitor what happens here closely. Let’s take a quick look at the key level and plan accordingly: The 20/50 EMA cluster overlaps the 16,750 area in the Dow Jones Industrial Index. Contrast this with the breakout yesterday in the S&P 500…
I’m both pleased and humbled to announce an all-day event of 19 educational webinars from top speakers discussing their favorite trade set-ups as a unique fundraiser to assist one of our own colleagues who has been very influential in the trading community. Please join us and learn favorite set-ups from top trading educators while at…
We have another Trend Day on our hands as price once again gaps higher and (so far) continues in the direction of the upward movement. First, start with this morning’s planning post and then compare that with the bullish trend day suggested by the morning update. We’ll start with the intraday update of the S&P…
Not to be spooked by a little retracement in the market, the buyers (bulls) decided to break price higher to the “other side” of the 20/50 EMA resistance. Let’s update our chart and note the “Open Air” as price completes another repeat pattern: First, take a moment to study my prior update from August 11…