The 2015 Trading Range continues for the market as prices fell once again to challenge key support. Let’s update our “Range Forecast” Chart of the S&P 500 key levels and plan accordingly. January 2015 started with a wide range (1,990 to 2,060) ahead of a rally straight up to the 2,120 level. From there, buyers…
Despite a strong morning rally, price fell back toward the 2,100 level, continuing our range environment. What levels are we focusing on now? Let’s see! As mentioned to members last night, price remains within a short-term trading range. Technically, we’re seeing a triangle (intraday) within a rectangle (daily chart). Nevertheless, our key focal points –…
Not to be outdone by Apple’s (AAPL) big gap into support yesterday, strong trending stock Disney (DIS) disappointed investors and dropped straight into a key support reference level. Let’s update our Disney (DIS) chart, learn a quick lesson, and plan the next move for this big stock. We’ll start with the Daily Chart: First, take…
Stocks tested their lows as an ongoing consolidation (range) environment continues. What levels are we focusing on now? Let’s see! For the S&P 500, buyers have supported the market into the 2,088 reference level. Monday and now Tuesday saw strong rallies up off this key short-term trading level. For now, price continues to trade in…
Apple (AAPL) shares entered distribution mode with a breakdown under support and the 200 day SMA. What’s happening now and what downside support levels are valid targets? Let’s start with a zoomed-in Daily Chart view of Apple (AAPL): First, start with a prior update from July appropriately titled “Apple Breaking Down – New Price Level…
Is a reversal developing in the stock market? Let’s listen to the message from two charts of stock market breadth. We’ll start with the Percentage of Stocks above Key Moving Averages: The chart above shows the Daily S&P 500 Index with two indicators: The percentage of stocks (in the S&P 500) above their 50 day…
Though buyers attempted a bounce-rally up off 2,100’s key support level, they failed as the market dropped sharply to a new swing low. What levels are we focusing on now? Let’s see! For now, we continue to focus on two simple levels: Though buyers had an opportunity to enter and bounce price higher Friday, they…
Short term traders benefit from taking a moment to view the larger picture of ongoing trends. There’s a clear trend – and clear levels to watch – in the S&P 500 during the ongoing bull market. Let’s update our “Parallel Trendline Channel” Structure and note what levels are important here. First, here’s the broader picture…
Buyers bought a downside swing this morning, resulting in a price swing back to the 2,110 resistance level. What levels are we focusing on now? Let’s see! For now, we continue to focus on two simple levels: 2,100 (Round Number) and 2,110 (Prior High). Note the negative divergences building at the 2,110 level. For short-term…
Is this the spot to buy Facebook (FB) shares? Let’s update our daily chart levels, note a key confluence, and plan trades from the current swing. Facebook (FB) shares are trending higher as evidenced by price (higher highs and higher lows) and a rising moving average slope. Following the trend, we tend to look for…