Ford shares (F) broke a critical support level and collapsed instantly toward the current key level where we’ll be watching for a reaction. We can study this textbook example (of a sudden yet telegraphed market reversal) as we focus on the current pivot support. Here’s the Daily Chart with breakdown: Shares rallied most of 2014…
For those awaiting a breakout in Chipotle shares (CMG), the wait may be coming to an end. Shares currently remain compressed between the 20 and 50 EMAs as traders await a range (and EMA) breakout. Let’s update our charts and plot the “Breakout Pathways” for trading this stock: I initially highlighted this “EMA Compression” last…
New low? Reversal? Retracement? Let’s take a look at our intraday S&P 500 for today’s update and highlight the up and down trending stocks of the session for possible opportunities to trade into the close. We’re taking a broader perspective of the intraday chart to highlight the current (short-term) Fibonacci Retracement levels as drawn. We…
You may not be aware that Disney (DIS) is one of the strongest trending stocks in the Dow Jones and S&P 500 right now and has been since its breakout in mid-2012. Let’s start with the Monthly Chart (where the magic is) and study this stock from there: I wanted to focus this post on…
Chipotle shares (CMG) are forming an “EMA Compression” trade set-up which is a specific type of breakout pattern. Let’s see the chart, note the trigger levels, and plan a strategy for those interested in this high-priced stock. A few things jump off the chart at us at first glance. First, there’s the price pivot point…
Following up from the prior “Pullback Planning Update,” let’s take a quick look at the broader S&P 500 and Dow Jones to note the logical pullback (retracement) toward the rising weekly targets. Let’s start with the S&P 500: Focus our attention on the price, upper Bollinger Band, and rising 20 week EMA (green). I highlighted…
Look out below! Price broke support and collapsed in a liquidation event today where the selling has (so far) been relentless. We recorded perhaps our most bearish breadth chart since I’ve been keeping record of intraday sector breadth on the open blog. Let’s see the current S&P 500, note ultra-bearish breadth, and then highlight our…
Right on schedule, price rallied up from a known support target level and we have yet another Trend Day in motion. Start with this morning’s S&P 500 Support Bounce Rally post and let’s now take a look at our intraday update. Let’s jump into today’s update with an update on the S&P 500: Take a…
Despite the lengthy uptrend, the shorter-term S&P 500 has devolved into a sideways trading range with clear boundaries. Let’s take a look at these boundaries, chart the current rally, and plan the near-term future for the market. We’re using the @ES futures chart to highlight the recent trading range and the visual divergences that have…
Here we go again! The market continued its slide lower – as was widely expected – and so far is creating another trend day lower. However, not all is bearish in the market, as seen from our intraday stock scan. Let’s jump into today’s update with an update on the S&P 500: I expanded more…