Rally Report and Market Update for October 17

Oct 17, 2014: 1:17 PM CST

Price today continued its recovery rally into resistance (see this morning’s update for targets) and now we pause mid-day to check key key levels and highlight the top trending stocks of the session.

Here’s our S&P 500 update and trending stock scan for the day:

Our focal point turns to the underside of 1,900 which is where the market peaked and reversed today (1,898).

We’ll be cautious under this area as price continues to pull back.

Note the lengthy negative TICK (and momentum) Divergences into the underside of 1,900.  This further suggested a sell-off was likely.

Continue Reading…


Surging Toward the 200 day SMA Target

Oct 17, 2014: 11:26 AM CST

As was generally expected, the market retraced higher after several down-days in a row took price to a key monthly support level (1,825).

Let’s look at the current S&P 500 and Dow Jones charts and highlight the surge back to the underside of the broken 200 day SMA:

On the breakdown under the confluence of the 200 day SMA and the August price low with the 1,900 “Round Number,” the S&P 500 collapsed into a vacuum of buying until bulls supported the market aggressively off the 1,825 target.

Now, we see a logical bullish price pathway surging higher toward the underside of the 200 day SMA and this same confluence.

It should be our focus for planning the next swing in the market into next week. Continue Reading…


Join Me Saturday for a Full Day of Trader Education

Oct 16, 2014: 4:22 PM CST

Join us live for a day of trading education from Fibonacci to Price Patterns, Trend Days to Spotting Market Reversals.

I’ll be part of 8 trader educators presenting a full day of content as part of the

Smart Investing Workshop:  Financial Leadership from Professionals live event.

I’ll be the final speaker to round out the day, taking the microphone at 3:15pm EST (12:15 PST):

I’ll teach you what a Trend Day is and how to position yourself best for these explosive intraday moves.

The information will apply to swing and intraday traders.

These sessions are free and you can attend any or all sessions at your convenience.

Click here to register for free and start planning your schedule.

Thanks to the team at Investor Inspiration and I can’t wait to see you there live!


Continue Reading…


Stabilizing Market Update and Stock Scan October 16

Oct 16, 2014: 1:15 PM CST

We’re putting the pieces back together from a broken market yesterday!

An afternoon violent “V-Spike” Reversal took us right back to where we opened, and today’s session took us just above that level where we are at mid-day.

Here’s our S&P 500 update and trending stock scan for the day:

After a market collapse (vacuum of buy orders) swept shares yesterday morning, we’re retracing back to where we ended the day Monday afternoon near the all-important 1,875 pivot level.

We’ll use this as our focal level and trade bullishly for an intraday reversal above but bearishly (to continue the trend into resistance) under 1,870.

Continue Reading…


Comparing and Charting SP500 Volatility since Bear Market Bottom

Oct 15, 2014: 2:38 PM CST

How does current market volatility – which is surging – compare to the two prior post-stimulus (QE) sell-offs that occurred since the 2009 Bear Market Bottom?

Let’s take a look at where we are and what may be in store if history is a guide:

The chart above shows the S&P 500 index compared with Volatility.

I’m defining “Volatility” as the Intraday Range which is measured by the intraday High minus the Low.

The red histogram shows each day’s range (high minus low).

The black line is simply the 21 day (roughly one month) average of the Intraday Range. Continue Reading…

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