With the recent breakout to all-time highs in the SP500, what message did Market Internals send and what are they revealing with today’s sharp reversal and initial Bull Trap? Let’s take a look and study the recent message from Market Internals: A quick glance of the “Big Three” Market Internals (broader NYSE Breadth, TICK, and…
This morning saw an initial breakout and powerful upside continuation for shares of BlackBerry (BBRY) which draws our attention this morning. Let’s take a quick chart-update for the stock and note the breakout and key levels to watch going forward. First, the broader Daily Chart (note the 20d EMA breakout): From a historical perspective (at…
Following up to this morning’s post on the US Market Breakout and Sector Strength/Weakness, I thought it would be instructive to take a look at broader global ETF money flow as well in terms of relative strength and weakness. As there’s more to view, let’s get straight to the charts: It’s a lot to view…
While the SP500 itself broke to all-time highs this morning, not all sectors participated in the breakout. Swing trading opportunities often come from focusing on strong stocks in strong sectors while avoiding weak stocks in weak sectors. Let’s take a quick glance at the Nine Sector SPDRs (ETFs) and note the relative strength to the…
Let’s take a moment to update the prior post “Trade Planning and Levels to Watch in Gold” with respect to the new price compression between daily moving averages, a key Fibonacci Level, and an active trendline all aligning at the same level. We’ll start with the broader Daily Chart: First, let’s focus on the price…
When studying price charts, it’s important to note historical ‘repeat’ patterns or echoes from the past, which is what we’re seeing right now in eBay shares. Let’s take a look at a prior lengthy “Box” pattern from 2011 along with the current “Rectangle Range:” Starting in 2011, eBay shares stalled into resistance at the $35.00…
I wanted to highlight two pro-trending stocks that continue to breakout and rank highly on technical (chart-based) relative strength stock scans. Gaming related stocks Electronic Arts (EA) and GameStop (both retail names) continue to see inflows of money into their stocks. Let’s take a quick look at these names and what this suggests about the…
What is a “Normal” monthly percentage performance for the SP500? Is the current performance for July normal or not normal? Is it totally unprecedented? I had a member ask a question along these lines and I thought it would be interesting to try to answer the question what is “normal” for the SP500. For that,…
Let’s update our ongoing stock scan of the uptrending stocks most overextended and downtrending stocks most under-extended stocks from their 200 day Simple Moving Average. This scan provides candidates to trade pro-trend retracement entries or alternatively, aggressive reversal or ‘fade’ candidates for those inclined to trade counter-trend movement. We’ll start with the Most Over-extended Stocks…
With the SP500 logically retracing lower from the 1,700 level, pay attention to the mid-day picture of Market Internals and the visual divergence that undercut the sell-off for the moment. Here’s the pure SP500 Breadth or Advancing Stocks minus Declining Stocks during the session: With the SP500 trading down intraday into the 1,680 level, a…