Crude Oil finally (and fully) achieved its downside round-number target of $30.00 per barrel this morning. What’s the play here? Let’s update our chart, learn a quick lesson, and plan the future. The first thing we do when we look at a price chart is assess the trend (Up, Down, Sideways). When a trend is…
Now it’s time for a little good (bullish) news for the market – or at least a particular stock. Lululemon (LULU) completed a “Saucer” or “Rounded Reversal” price pattern with a bullish breakout. Let’s see the chart and note the new opportunity and targets: Price gapped down into a bearish swing in the latter part…
Just how low can this market go and how many more support levels can it break? Let’s step out beyond the S&P 500 and the Dow Jones to focus on the Russell 2000, a small-cap index to get a sense of where stocks have traded. We’ll get an initial perspective from the Weekly Chart: To…
Are stocks set to bounce (rally) after multiple days of selling? Divergences at support say YES! While nothing is ever guaranteed, let’s set the stage for what catalysts may trigger a bullish reaction higher (which you can trade) and what targets to play for should it occur. We’ll start with the S&P 500 intraday chart…
You would think that a stronger Jobs Report this morning would be a catalyst for a big stock market rally, but alas no. Price continued the ongoing liquidation (downtrend) with a retest of the low under 1,940. However, clear signs of bullish life are emerging – focus on these factors and the play at 1,935….
Are you ready to be surprised? Five leading, well-known stocks in the Dow Jones Industrial Average (30 stocks) are near or just broke to fresh new 52-week lows in ongoing downtrends. Simply stated, these stocks should be avoided. Let’s chart these names, two of which may be very surprising to you: Collectively, these are the…
Down we go again as China fears spread throughout the global markets this week. Crude Oil collapsed as well but spiked higher off the fresh new multi-year low as the downtrend continues. 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…
2016 begins very bearishly, and the selling continued this morning. Let’s focus on the Dow Jones and the S&P 500, pinpointing the key levels and what decisions we need to make for adjustments. Here’s the Dow Jones into 2016: The Dow Jones peaked in early 2015 above 18,000 which is a key reference level for…
2016 is off to a bearish beginning as the S&P 500 plunged to fresh new intraday lows (as did Crude Oil). 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 Intermarket Strategy Members, we took a bearish turn going into 2016….
Leading gun manufacturer Smith and Wesson (SWHC) surged on the very day President Obama announced an executive order on gun control. Logic may suggest that gun stocks would decline on such news but no, defying logic, the gun manufacturer surged 20% higher today. Let’s see what happened, plot the price chart, and move forward from…