Big Bullish Surge off Support Market Update and Scan April 6

Apr 6, 2015: 12:14 PM CST

Markets are rarely boring, that’s for sure.

Stocks power-rallied off support this morning as a short-squeeze helped fuel price action higher.

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

Take a moment to review the prior two posts that set the stage for today’s bullish reversal:

Key Support Level Planning for April 1 (US Stock Market Indexes)

Two S&P 500 Triangles and Level Planning

We’re building off the following quotes/planning from the end of last week:

The Breadth Divergence does suggest the outcome here will likely be another bullish inflection up off the 2,045 target support level.

If so, continue playing long above 2,050 as bears “stop out” and buy-back to cover, joining with buyers/bulls, both of which will help push the indexes higher.

Price “should” move up off the 2,045 level – away from this trendline price support – and toward the 2,080 level again. That’s the clear, logical dominant thesis given the data we have right now.

Despite Friday’s futures market bearish action, buyers continued the bullish rally as short-sellers once again were stopped out, ironically fueling the market even higher.

View the prior posts for target planning within the triangle/rectangle pattern on the Daily Chart.

Continue Reading…

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Reversal Breakout Opportunity Brewing in Coffee and Crude Oil

Apr 6, 2015: 11:38 AM CST

Are we about to see a “Breakout Reversal” trading opportunity trigger for Coffee and Crude Oil?

Let’s jump into the Daily Charts and find out!  We’ll also highlight targets on a breakout.

We’ll start with Coffee (@KC):

At first glance, you might think Coffee and Crude Oil differ greatly, and you’d be correct.

However, both markets are forming similar price patterns and structures that historically have preceded a larger reversal or at a minimum, a short-term stronger bullish opportunity.

As a disclaimer, there’s no guarantee history will repeat perfectly, but if it does, you can be prepared.

The main idea is that both markets have endured a lengthy and powerful short-term downtrend going into 2015 and both markets are holding (bouncing) support with positive divergences.

Similarly, both markets are showing bullish volume on the recent bounce up off support. Continue Reading…

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Quick Charting Cross-Market Money Flow to Start the Week

Apr 6, 2015: 10:29 AM CST

Where’s money flowing across Stocks, Gold, Oil, and the Dollar as we start the new trading week?

Let’s jump straight in to our Cross-Market Grid to see the movement and opportunity:

The Chart above is a 30-min view of current movement in the futures markets of Stocks (@ES), Gold (@GC), Crude Oil (@CL), and the US Dollar Index (@DX).

The 30-min chart provides a slightly broader perspective while the 15-min chart highlight’s today’s action:

So far, we’re seeing a surge of money into stocks in a short-squeeze or bullish support-bounce play.

For a bit of perspective on this “support play,” see two prior updates:

Key Support Level Planning for April 1 (US Stock Market Indexes)

Two S&P 500 Triangles and Level Planning

Gold broke above the $1,200 level and impulsed (gapped) higher this morning in a bullish breakout play.

Similarly, Oil broke above the swing high near $50.00 per barrel and achieved the target of the prior high ($51.50).  Continue Reading…

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Bouncing Bull Market Update and Big Stock Scan April 2

Apr 2, 2015: 1:36 PM CST

We all survived April Fool’s Day!

Yesterday saw an intraday bottoming/reversal process and today we’re seeing the logical up-rally higher.

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

Take a moment to review the prior two posts that set the stage for today’s bullish reversal:

Key Support Level Planning for April 1 (US Stock Market Indexes)

Two S&P 500 Triangles and Level Planning

Also, I wrote this last night to members:

The Breadth Divergence does suggest the outcome here will likely be another bullish inflection up off the 2,045 target support level. If so, continue playing long above 2,050 as bears “stop out” and buy-back to cover, joining with buyers/bulls, both of which will help push the indexes higher.

Price “should” move up off the 2,045 level – away from this trendline price support – and toward the 2,080 level again. That’s the clear, logical dominant thesis given the data we have right now.

Today’s bullish action was indeed the dominant thesis and we play the 2,070 pivot as noted.

Continue Reading…

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Key Chart Level Planning for Dow SP500 NASDAQ and Russell April 1

Apr 1, 2015: 9:50 AM CST

With a morning sell-off in motion, let’s take a moment to step back and note key inflection points, targets, neutral range zones, and other key planning factors on the “Big Four” US Stock Market Indexes.

We’ll start with the S&P 500 Index:

For additional background and specific planning, see this morning’s update post “Two Triangles and Level Planning for the S&P 500.”

Each chart in this post will highlight a “Neutral Range” level, a Bullish Breakout Trigger, and a Bearish Breakdown trigger.

We’ll be unbiased and use these as objective planning levels going forward.

The S&P 500 – as noted – has a Neutral Range (just like January 2015) between the 2,045 and 2,095 levels.

We’re focusing carefully on the 2,045 trendline and if price breaks lower, it could open a quick sell/liquidation play toward the 2,020 or even 1,990 downside targets.

Continue Reading…

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