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).

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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.

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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.

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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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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.

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