Facebook (FB) shares face a major “make or break” support challenge at a key opportunity level for traders. Let’s set the chart up to plan a potential “support bounce” or “alternate trend reversal breakdown” play for FB. We’ll start with the broader Weekly Chart for a top-level reference: We see a strong uptrend took shares…

What does “Sector Breadth” reveal about today’s session (and which sector should we be avoiding from the long side today?) and which stocks top our intraday up and down trending list? Let’s start with Sector Breadth to begin today’s Mid-day Stock Market Update: Our Intraday Sector Breadth (stocks in the S&P 500) Chart shows strength…

As we end March and the first quarter 2014, let’s take a quick look at the current S&P 500 trend, key levels in play, the current short-term range and update last week’s “Key Inflection Support for S&P 500” post. First, be sure to read last week’s “Support Bounce Play off the 1,840 Level” post –…

As we end the week, let’s look at three stocks that top the  “Most Consecutive Down Days” stock scan – these can be aggressive “retracement/reversal” candidates going into next week. We’ll start in order of number of down-days (daily chart) in a row: Westport Innovations (WPRT) tops our scan with 14 down (sell) days in…

Amazon.com (AMZN) shares hit a confluence support target today, as I highlighted originally in the post “Charting a Hidden Resistance Level in Amazon.” Let’s update the analysis to include the newly achieved target and visualize a support bounce… or steeper retracement breakdown play. We’ll start with the Daily Chart update: As referenced in the “Hidden…

The S&P 500 continues to play out the “Repeat Topping Pattern” scenario I mentioned to members and on the open blog. So far, price has moved down against the 1,875 level as expected toward the initial support target into the rising 50 day EMA. Let’s update our chart and plan scenarios based on whether price…

With a strong mid-day downside reversal, let’s update our current Sector Breadth Chart (the message is very clear) and highlight our uptrending and downtrending stock candidate list. Let’s start with our broader S&P 500 Sector Breadth Chart: A quick glance shows strength (money flow) entering the Defensive Names such as Staples ($XLP), Health Care ($XLV),…

A quick glance at the Daily Chart of Netflix (NFLX) shows a critical support-test happening today.  Another failure here from the buyers opens Netflix shares to descend into a clear “Open Air Pocket.” Let’s set the stage for a “support bounce” or entry into a pocket (with more downside targets) for Netflix shares: Before we…

Is the market topping or is this just another in a string of smaller “repeat top” patterns for the S&P 500? Let’s take a look at a recently repeating pattern and chart the levels to watch if history does indeed repeat. I highlighted three similar periods where the following factors developed on the chart: Retest…

With the S&P 500 tipping to a weak all-time high Friday, what does the Sector Performance Grid reveal about the health or weakness of the market? Let’s take a quick glance at the Sector Rotation Model and the message it is sending year-to-date: According to the Sector Rotation Model, we separate the nine major AMEX…