Financial stocks have seen relative weakness with companies in other sectors, as evidenced by the lackluster performance and recent support breakdowns in the leading Financial ETF – XLF. Let’s take a Daily then Weekly view to learn lessons from the structure, and see current reference levels to watch. First, the Daily Chart (notice the “Arc”):…
Intraday Gold prices are forming a classic “Arc Trendline” pattern that should be interesting to follow in the week ahead – depending on whether this structure continues gently or if price breaks firmly through one of the arc trendlines in place. Let’s take a look at the pattern and note the levels we should be…
Market participants can’t say the “worse than expected” Non-Farm Payrolls (Jobs) Report was a complete surprise, given that the tide of economic news recently turned sharply negative (or at least has been hitting consistently under expectations). With Friday’s “Jobs Report” also worse than expected, let’s take a quick pre-market look at the current intraday intermarket…
I wanted to start a new series of educational posts entitled “Wednesdays with Wyckoff,” in which I will take a quote from the writings of Richard Wyckoff (of the early 1900s) and apply the lesson or idea with an example from today’s markets. Wyckoff was one of the early fathers of Technical Analysis, and contributed…
What key reference price levels should we be watching in crude oil at the moment? Let’s take a look: A quick look at the chart above shows us two levels of confluence at the $103 overhead level – perhaps more appropriately $103.75 or $104 for a nice clean round number. Why is that level significant…
What message is the market sending as we transition into June 2011? More importantly, what levels are the current reference boundaries that – when broken – will likely trigger an impulse breakout swing? Glad you asked! Let’s take a look at the “Big Three” US Stock Market Indexes and review these levels. First, the S&P…
Many investors were taken sharply by surprise initially by the stellar run-up in Silver prices, and then perhaps more so by the dramatic collapse in prices after the period of euphoria and instability. But how do you define “instability” and “euphoria” objectively? Let’s learn a lesson from Silver’s Sigma (Standard Deviation) Bands and see what…
It really is coming up faster than it seems and will be here before you know it! I wanted to post a reminder to go ahead and register for the upcoming Dallas Traders Expo in June (15th to 18th) this year in Dallas. Here’s just a small list of some of the free presentations/classroom sessions…
If you’re an intraday trader of stock market index futures or ETFs, you probably noticed visible surges of buy/bullish volume into these funds today and Wednesday. Let’s zoom-in on this bullish volume action and put it in context of the critical higher timeframe support level at 1,300 in the S&P 500. First, the SPY ETF…
It’s time for another update on the “Stocks Most Over/Under-Extended from their 200 day SMA” list! It’s surprising how much has NOT changed since the last update, but that is part of the benefit of this occasional scan. The scan is designed to find the strongest and weakest stocks in terms of their distance –…