What’s Breadth suggesting about the current market? And how was it extremely helpful in calling the recent top? Let’s take a look! First, what we’re seeing is the S&P 500 Weekly Chart with a specific Breadth Indicator. We’re noting stocks at New 52-Week Highs (Blue), New 52-Week Lows (Red) and the Difference (Lower Panel). Breadth…
With the S&P 500 falling over 11% at the beginning of 2016, which big-name stocks in the Dow Jones have beat the market… and which have lagged it? Let’s start with the relative strength leadership (if we can call it that) so far in the bearish start to 2016: We’re just measuring simply the price…
As we focus on the US Stock Market, let’s pull the perspective back. Let’s focus for a moment on three intraday charts – and powerfully persistent trends – that underscore how powerful the price movements of 2016 has been. Combine these three charts together in your mind: The @ES (S&P 500) and @CL (Crude Oil)…
Recently I’ve been drawing your attention to the Weekly Chart pivot levels and “Arc Trendline Distribution” structure and today we’re seeing “inconceivable” downside targets being hit ahead of schedule. Let’s update our Weekly Chart perspective for the S&P 500 and Dow Jones: Take a moment first to review our previous planning posts: January 19: “Daily…
“Stocks which are weak tend to get weaker.” Twitter (TWTR) continues to demonstrate the power of this simple statement for traders. It’s extremely tempting to find a weak stock and try to trade a reversal, but it’s more profitable to find a trend and ride it for all it is worth. Let’s chart the Weekly…
We’re seeing at least a short-term bounce develop off key planning levels for US Stocks. Let’s pinpoint these levels and craft a trading plan for the bounce or collapse from the new “Make or Breakdown” Pivot Points. First, take a look at last week’s “Bigger Picture Weekly Chart Price Pivot Levels” to accompany today’s post….
Can buyers catch a break? Or better yet, catch a falling knife? Not yet it seems. Yesterday’s big rally was completely erased with this morning’s opening gap – and the selling continued. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: As I highlighted last weekend to our…
The “Distribution Arc” pattern I highlighted at the beginning of January has indeed played out to the full target levels. What now? Let’s quickly update our key levels on the weekly chart of the S&P 500, Dow Jones, and NASDAQ at the midpoint of January 2016. Here’s the S&P 500: First, take a moment to…
Some might say we were way overdue for a larger rally or snap-back bounce for the stock market. Nevertheless, all in good time for the market – today’s session did result in a powerful reversal rally and strong trend day to the upside as buyers retook the 1,900 key level. Let’s update our levels for…
With the downside target fully achieved on a second “crash,” we prepare our next move as traders. Will we be “bounce bullish” on a third intervention and rally “up away from” the critical level or will the third time be the charm for the bears, extending the collapse and triggering a new wave of aggressive…