File this under “I didn’t expect that!” – Treasury prices continue their recent rally and broke powerfully to new highs at roughly the same time the US Stock Market surged higher beyond resistance. The implication is that “something’s gotta give,” so let’s look at the situation and try to figure out what’s likely to happen…
The S&P 500 fully achieved the expected 1,900 target, and now we monitor the rest of today’s session for any sort of Bull Trap or else continuation of the bullish surge – and short-squeeze – already in motion. We’ll start our update as usual with the S&P 500 chart and key levels: With yesterday’s bullish…
Price tends to impulse or power-rally stronger when it traps traders or otherwise defies conventional wisdom. That’s part of the reason price is surging higher today, so let’s take a moment to update our Mid-Day charts and highlight potential trend day stock trading candidates. We’ll start with an intraday picture of the S&P 500 Structure:…
If history repeats as it did in 2011, then we should heed the message of caution from the Consumer Discretionary/Staples Relative Strength Chart. Let’s take a look at the current message and compare that to a very similar pattern from 2011. The chat above shows the S&P 500 Daily Chart in a strong uptrend into…
This week has seen many intraday reversals that have tricked some traders, and today’s session is no exception. Let’s jump straight into today’s mid-day market update and focus on what’s important for the rest of the session. This morning continued the intraday reversal and downtrend against the 1,890 level. Price then triple bottomed on positive…
Keurig Green Mountain (GMCR) triggered a Bull Flag support bounce and breakout play on the Daily Chart I wanted to highlight – it can serve as a candidate and great educational lesson. Let’s study the chart, note the levels, and learn a quick lesson from this popular pattern. Generally, a breakout is a sign of…
Today’s session already has given us two big surprises from what we’re accustomed to seeing each day. First, today started as a “breakout of resistance” event that resulted in a quick short-squeeze impulse near 1,890 (today’s high so far). Second, we had a big surprise in our Breadth Chart, which we’ll see shortly. Without further…
Can anyone explain today’s volatile “down-up-down” market reversal that seemingly trapped both sides of the market? Let’s do our best to continue focusing on updated key index levels and study the message of current “Sector Breadth.” We’ll also see trending stocks and note some major gap-downs this morning. I expanded the perspective to the 3-min…
Today’s update reveals a reversal and breakdown market trending down against resistance. Let’s take a look at what’s happened, what levels are important now, and of course what message Sector Breadth is sending. The 1,875 index level was the key support or inflection level that held price up ahead of the mid-day breakdown. The initial…
Happy Cinco de Mayo! Let’s jump straight into our active intraday trading update at the middle of the trading day. We’ll start with the festive reversal from session lows on the S&P 500 (and note current levels): Today’s already seen a wild trading day in motion. We note the power-gap down to the 1,870 level…