With price breaking under the rising parallel trendline channel, the expectation was for a logical continuation of the sell-off triggered by this morning’s gap. Buyers (bulls) had other plans (as usual). Let’s take a look at the current S&P 500 key levels and highlight our trending stocks of the day: See my prior updates this…
I’m excited to present a featured webinar with Trader Kingdom this Thursday, July 10th at 3:30pm CST entitled “Stalking the Short-Squeeze: Protection and Profit from Unexpected Breakouts” and I hope you can join us! If you’ve been on the wrong side of any surprise breakout event, or want to learn how to profit from buying…
I wanted to update the simple “Color Price Structure” chart I’ve been showing all week with respect to the simple yet effective price planning pathway for the S&P 500. Let’s take a look at the current “Color Structure” chart and plan how to trade the current swing already in motion: To get a sense of…
Today continued the expected sell-swing already in motion and price achieved its downside target (see yesterday’s intraday update and level planning to recap the live analysis as it occurred now that we know the outcome). With price back into a support target level, let’s update our intraday charts and trending stock scan: The intraday target…
If you followed yesterday’s morning update, then you’ll find today’s market action is exactly what was suggested (a sharp downside swing) from the “Planning the Next Swing from Color Structure” chart I highlighted previously. Let’s update the market, note what happened (faster than expected) and plan the NEXT swing for price: Be sure to read…
What levels are we watching at the moment and which stocks are setting up as potential Trend Day candidates? Let’s start with our S&P 500 intraday level-watching chart: The S&P 500 traded down from just above the 1,980 level on TICK and momentum Divergences into the upper trendline of a rising pattern (see this morning’s…
Let’s start our week with a simple “Color Structure” Chart of the S&P 500 and use it to plan a price pathway for the week. We’ll start with the current intraday structure chart to set the stage: The color structure chart shows a sideways rectangle (early May) which is a consolidation pattern and then the…
During the recent non-stop bullish price rally, which stocks have closed the most days in a row to the upside? Let’s take a look at our updated stock scan results and spot two specific trading opportunities in the list. Using TradeStation’s Stock Screener tool, we find the following stocks have the most consecutive daily chart…
Of the 30 stocks in the Dow Jones Industrial Index, which 12 stand “head and shoulders” above the rest and continue to break through new 52-week highs? Let’s start with the “Strong 12” as seen on a performance chart from 2014 to July 1: The strongest trending stocks in the Dow Jones Index include American…
What support level must bond fund TLT hold or else trigger a breakdown/reversal event? Let’s start with the Daily Chart to highlight the structure and key level at play now: We’ll see the current trade level clearer on the hourly chart, but the first level to hold must be the current $111 price support level….