With the morning sell-off and current bounce off a key Fibonacci Level, what price targets are important for our trading decisions for the rest of the day and which stocks are leading candidates for potential trend day continuation? Let’s start with our S&P 500 Level and Fibonacci Retracement Chart: Friday’s big rally up off the…
What does price reveal if we focus on “just” the recent rallies? A stealth bullish repeating pattern emerges that demands our attention. Let’s focus just on the spike-rally impulse phases in the S&P 500 recently: I’ve purposely eliminated the sell-swings from mid-June to present on the S&P 500 30 min chart. We can thus compare…
It’s as if yesterday never happened – buyers intervened and tripped the market higher as bears covered losses during the rally. Let’s put today’s price action in the context of the broader trading range (highlighted in yesterday morning’s update post on the S&P 500 and Dow Jones rising trendline levels to watch) and note which…
With the geopolitical news affecting markets, traders seem to be adopting a “Sell First, Ask Questions Later” mentality and that’s perfectly logical. Let’s update our intraday levels and highlight which stock names are potential trend day candidates. Start with this morning’s update post on the S&P 500 and Dow Jones rising trendline levels to watch…
What quick-reference levels should we be watching on the S&P 500 and the Dow Jones Industrial Average and why are the trendline patterns different? Let’s start with the S&P 500’s rising wedge pattern: There’s certainly more than one way to draw similar trendlines, but the pattern above shows a compressing or potential “Rising Wedge” pattern…
The bull trend continues higher today but what levels are important and which stocks are possible trend day candidates? Let’s start with our Intraday S&P 500 Chart and follow-up with our list of trending stocks: A simple S&P 500 price level planning chart shows that the 1,976.50 pivot is our key focus for intraday support….
Have you ever been stumped by elusive market reversals? Would you like to learn the five most common steps a market takes directly ahead of a reversal? More importantly, would you like to know how to anticipate and trade price reversals following this five-step process? Join me live with the eTrading Expo this Wednesday, July…
What should we be watching in today’s market breakout? Let’s start with our “Sector Breadth” Chart and follow-up with our intraday scan list of trending stocks: Perhaps not surprisingly, intraday Sector Breadth paints a very bullish picture at the moment. Our worst performing sector is the defensive Utilities space and the three strongest sectors include…
Amazon.com (AMZN) shares continued with follow-through from a breakout buy signal I highlighted last week. Let’s update our chart and highlight the new levels to watch after the breakout triggered: Start with last Friday’s AMZN post for additional background and to set the stage for today’s Breakout Follow-through. Today’s quick update shows the follow-through and…
Amazon.com is showing signs of life this morning with a range breakout into a key resistance area. Let’s update our Amazon (AMZN) chart planning levels and note what event could trigger a breakout trade. I like to keep the charts simple, so let’s focus our attention on the highlighted box (between the $322 and $338…