Quick Charting April Market Internals at the Highs

Financial stocks have seen relative weakness with companies in other sectors, as evidenced by the lackluster performance and recent support breakdowns in the leading Financial ETF – XLF. Let’s take a Daily then Weekly view to learn lessons from the structure, and see current reference levels to watch. First, the Daily Chart (notice the “Arc”):…

In last week’s post on Gold’s chart, I highlighted the breakdown and new momentum lows which suggested a deeper retracement toward the $1,700 to $1,720 targets. With gold achieving those downside targets this week, let’s take a look at the current key levels and note the levels to target on the upside if support holds,…

As the US Dollar has been weakening recently, foreign currencies have been strengthening, as have commodity prices.  Let’s focus on the Euro Index to see what insights we can gain from the daily and weekly chart views. Euro Weekly: Price has clearly broken the strong uptrend which has persisted since 2002, roughly in line with…

Today’s bullish short-squeeze and continuation breakout activity confirms the bullish upward pathway that may continue to lead – once again – to new highs for the S&P 500. Let’s update our pattern, view the pathway, and study what opportunities exist for us. First, take a look at my two prior updates on this topic (before…

For the quick-reflexed traders among us, here is a current intraday update of the state of the SP500 5-min chart when compared with declining breadth/internals and the competing rising price trendlines to use as a reference for potential future trade set-ups. Let’s see it: Keep in mind the Higher Timeframe structural reference level at 1,300…