After a huge price surge from $600 to $760, Chipotle (CMG) shares retraced to a critical “Make or Break” daily and weekly chart trade planning level. From there, shares are compressing into a clearly defined support and resistance range. Let’s update these levels and note the price pathways going forward for this high-flying stock: A…
Today’s session saw a bullish reaction higher to a key intraday resistance level. Will price break through? Or will 1,935 be today’s high. Let’s chart the levels and possible outcomes here: A V-Spike Reversal late yesterday just above 1,900 set in motion today’s bullish rally toward the 38.2% Fibonacci Target area (1,935). That’s the level…
Are we setting up the fall-leg (sell-off) of a Dead Cat Bounce? Let’s chart the @ES (eMini) and @TF (Russell 2000) futures contracts on the hourly basis. We’ll start with the @ES: During this morning’s live Market Briefing with TradeStation, I highlighted the potential for a “Dead Cat Bounce” pattern to complete to the downside…
We’ve seen so many headlines recently about China, its economy, and how it pulled down the stock market last week. Let’s step back and chart China with the ETF symbol FXI to see what’s happened and what’s important now. 2015 has been a volatile year for the Chinese stock market, as seen with the tradable…
Yesterday’s relief rally stalled into overhead resistance at the 1,990 target level. What levels are we focusing on now within the slightly lower volatility? Let’s chart them now: It’s logical to expect a consolidation or pause as the market takes a breather after a huge impulsive rally. This time, price stalled shy of the 2,000…
Like stocks, Crude Oil is finally getting a strong bullish bounce. However, unlike stocks, Crude Oil snapped a much longer and persistent downtrend in price. Let’s update our Crude Oil charts and note new levels in play. The 30-min intraday chart highlights the strength of the short-term downtrend – or ongoing collapse – in price….
The bounce continued! The relief rally propelled stock prices higher, breaking free from a Triangle Price Pattern as detailed yesterday. And what levels are we focusing on now within the high volatility? Let’s chart them now: As detailed to members last night, “We’re actually tilting toward the BULLISH side and will aggressively buy a breakout…
During volatile times, it’s often helpful to step back to get a broader, simpler perspective of price, where it’s traveled, what levels are important, and where it may be headed in the immediate future. “Color Structure” price-only charts can provide valuable roadmaps for traders. Let’s update our current Color Price Structure chart of the S&P…
Eventually this market has to rally, right? We’ll see – continue focusing on our key price levels. And what levels are we focusing on now within the high volatility? Let’s chart them now: Again, please take a moment to review the prior “What Two Breadth Charts are Saying about the S&P 500.” Also, compare that…
While yesterday was another powerful sell (liquidation) session in the market, today sparks a sudden relief rally up away from the 1,900 target. Is price headed back to test the lows? And what levels are we focusing on now in the high volatility? Let’s chart them: Again, please take a moment to review the prior…