As we head into today’s Federal Reserve announcement, let’s quickly update our key levels on the “big three” US Stock Market indexes. We’ll start with the S&P 500 with clear level planning: Price once again rallied strongly away from the 2,065 target which is the rising 200 day SMA. The initial target – achieved in…
Stocks continued their sell-off toward lower support targets, and that’s where we begin today’s update. Let’s get right to it! Here’s a game-planning quote from last night’s member update: “For now, unless buyers can push the market up off the 2,070 @ES pivot as drawn (2,080 SPX), then we’re going to keep aggressively playing the…
After a price surge and gap higher, Netflix (NFLX) shares are retracing in an ongoing uptrend. For traders, there’s a clear price level to watch for clues to the future action – and opportunities. Let’s pinpoint this level and update our price targets for Netflix (NFLX): We’re seeing the 30-min Intraday Chart above with two…
A couple readers have asked me to chart MannKind (MNKD) – a low priced but high volume stock – and indeed shares are facing a key support level here. Let’s pinpoint the current “simple support and resistance” levels and note what opportunities develop from these levels. We’ll start with the Daily Chart: First and foremost,…
With many stocks gapping, gold surging, and stock plunging, there’s a lot to cover in today’s update. Let’s get right to it! Here’s a game-planning quote from last night’s member update: “We’re already logically moving down away from 2,135 and if price breaks 2,100 – as was the case in June under an identical planning…
After a small morning bounce off support, stocks continued falling along the sell pathway from the daily chart. Let’s scratch the surface and look beyond the headlines to what’s trending today: The 2,110 level was a Fibonacci Target spot and price rallied just shy of the 2,120 level. Further selling intensified as price broke this…
Our four-market grid of broader money flow continues to show distribution for commodities amid a retracement in stocks and the US Dollar. Let’s update our Quad-Market Money Flow Grid to start Thursday and note interesting changes: We’re seeing the simple 30-min (intraday) chart of the S&P 500 (@ES), Gold (@GC), Crude Oil (@CL), and the…
So far, we’re seeing a repeat of yesterday’s morning weakness, afternoon stability, and rally into the close. Let’s scratch the surface and look beyond the headlines to what’s trending today: Apple (AAPL) was the big headline news item today with a large downside gap into support. Nonetheless, the broader market continued its logical sell-swing retracement…
The logical and expected sell-swing (retracement) developed against a background of resistance and divergences. However, we’re bouncing up off a support level at the moment, so let’s update our key levels and stocks in play. Let’s scratch the surface and look beyond the headlines to what’s trending today: For a bit more context than the…
Is this the pullback we’ve been waiting for? Let’s do a quick morning update of the S&P “e-mini” and Dow Jones mini futures (@ES and @YM) with an emphasis on the divergences into resistance, and new support targets to play for. Here’s the S&P 500 and expected pullback underway: In terms of the S&P 500,…