I’m excited to be presenting live with TradeStation and Stanley Dash this upcoming Saturday August 9th and we’d love for you to join us if you are in the Nashville, TN area! Here’s the quick details (click the image for a direct link): The event is free and open to everyone – TradeStation user or…
Which stocks are most over (and under) extended from their 200 day SMA? How can we use this scan to find short-term trading opportunities from the stocks that appear on the list? Let’s start our scan and see the charts. Here’s the top five most over-extended stocks in the S&P 500 right now: Based on…
Groupon shares (GRPN) may be setting up a potential breakout and bullish trend reversal trade. Let’s start with the Daily Chart and plot future levels for this potential bullish reversal. Keeping it simple, shares have the potential to break bullishly above the $7.00 price level toward the confluence of the falling 200 day SMA ($8.44)…
With the breakdown under the key “Arc Trendline” Structure pattern in the Dow and S&P 500 (with something surprising happening in the NASDAQ today), let’s take a look at the new intraday chart and update our intraday (short-term) Fibonacci Retracement Reference Levels. We’ll start with the S&P 500: Using a custom indicator in TradeStation, we…
It’s good when logic trumps irrationality, and price retraces in a stable uptrend instead of charging higher every single day. Let’s take a look at the set-up, the current retracement swing in motion, and then plot levels to target as the market falls from the highs. We’ll start with the S&P 500: I first want…
I’m excited to announce an upcoming featured webinar by John Carter on Thursday, July 31st (to end the month!) on Trading Options Like a Professional. I’ve known John and attended many of his educational presentations since 2005 and highly respect his work and commitment educating traders in a simple, understandable manner. In this webinar (just…
If you’re not paying close attention, you may be missing the stealthily increasing positive correlation between stocks and bonds. Let’s cut through the charts and focus on the “Positive Correlation Creep” that’s taking place as seen in SPY (S&P 500 ETF) and TLT (a popular longer-term Treasury bond fund ETF). SPY (Green) and TLT (Red):…
Is it possible that US Steel (X) is finally catching a bid from a breakout (and reversal pattern) from a long-term resistance level? Could this be the start of a new long-term uptrend in price? Let’s take a look at the Weekly and Monthly Chart to give us some clues for a longer-term play. First,…
Price provides a choppy Range Day environment for traders ahead of tomorrow’s “Fed Day” announcement. Let’s chart key levels, note breadth, and highlight the stocks in play for today’s session. We’ll start with the intraday update of the S&P 500: Today’s session developed a Range Day or consolidation session between the 1,985 high (the opening…
Former high-flyer Plug Power (PLUG) could be setting up another bullish breakout and run for the prior highs. Then again, it could be luring buyers into the stock like a seductive siren’s call. Let’s take a look at the chart and decide which levels are key for trading a potential bullish breakout and avoiding a…