Triple Timeframing the Breakout in China FXI

Apr 9, 2015: 1:31 PM CST

Blink and you missed this week’s surge breakout higher in previously stable FXI, a popular ETF that tracksthe China 25 performance.

Let’s drill-down on the breakout from the Monthly Chart (open air) down to the Daily Levels to watch now:

The Monthly Chart above may give the clearest perspective of where the ETF has traded and where it may be headed in the future.

Namely, price (shares) found resistance into the $40.00/$42.50 key level from 2009 to present.

In 2015, price initially broke above this level and buyers continued fueling the price higher.

According to the chart above (StockCharts.com data), the prior high ahead of the 2008 Financial Crisis was above $60.00 per share, a possible reaction target should the buying pressure accelerate even faster (note 2007 for a historical precedent of skyrocketing prices). Continue Reading…

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April 9 Nothing At All Happening Range Market Update

Apr 9, 2015: 1:16 PM CST

Instead of “A Whole Lotta Shakin’ Goin’ On,” there’s actually a whole lot of nothing going on today as yet another Range Day grips (constrains) the S&P 500.

However, as on all days, opportunities are triggering in stocks within the market – just not the market itself.

Let’s dive inside action and note key levels and the trending stocks of the day:

Unless you’re trading the micro-swings intraday, there’s not much else you can do with the market here.

Focus your attention on the sector action or preferably the individual stock selection component – leading stocks – until we do see the inevitable future breakout of this range (reference January 2015).

Continue Reading…

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April 8 Fed Minutes Reaction Market Update with Stock Scan

Apr 8, 2015: 2:16 PM CST

We’re seeing a Falling Range Day in the context of spiking volatility on a “Fed Minutes” Session.

Let’s dive inside action and note key levels and the trending stocks of the day:

Up, Down, Up, Down, Big Down into Big Up.  That’s what’s today’s session held for us so far.

New traders should be cautious – if trading at all – in the context of a violent, bouncing sideways range.

Continue Reading…

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April 7 Range Day Resistance Market Update and Stock Scan

Apr 7, 2015: 1:44 PM CST

Stocks are taking a breather after yesterday’s strong bullish trend day.

Let’s dive inside action and note key levels and the trending stocks of the day:

We were expecting the likely bullish action off the 2,045 pivot all the way toward the 2,080 target and price exceeded the intraday target yesterday.

However, today’s session – though still bullish – is met with lengthy negative divergences into resistance.

We’re cautious against 2,090 and bearish (intraday) under 2,085 and 2,080.

Otherwise, a surprise resurgence of the buyers into resistance just makes us bullish above 2,090.

Continue Reading…

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Quick Color Commodity Charts to Start the Week

Apr 7, 2015: 10:10 AM CST

Yesterday we updated Gold, Oil, the S&P 500, and the US Dollar Index but let’s take a slightly broader perspective and add four more commodity futures charts into the grid to get a fuller picture of money flow across the market landscape as we begin the new week.

First, take a look at Monday’s “Quick-Charting Money Flow” Grid as well as yesterday’s detailed post Reversal Trading Opportunity in Coffee and Crude Oil.

Now, let’s expand the grid to the Color Trend Price Charts:

Oil, Soybeans, Oats, and Corn:

The post today is intended to compare the downtrends – and possible future bullish reversals should they occur – in commodities.

Compare the commodity markets in terms of the early 2015 sharp sell-off/downtrend (in conjunction with the strong US Dollar) and the recent bounce-up off the spike lows in March for most markets.

Gold particularly rebounded sharply higher from its March low as Oats and Soybeans are the weakest markets shown in the grid.

All markets in the grid remain beneath their falling 200 day SMA (red) though Gold is the closet to this key indicator.

Gold, Crude Oil (just today), and Wheat are the only markets in the grid above their falling 50 day EMAs (inflection indicator).

According to the Color Bar algorithm (based on an Average True Range function), Oil, and Gold are the only markets currently on a green/bullish bar.  All other markets in the grid are on white/neutral consolidation bars. Continue Reading…

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