Let’s take a quick moment to update our “Market Structure” Color Charts for the Big Three US Equity Indexes. We’ll start with the S&P 500: When we view “Market Structure,” we’re simply studying the sequence of price highs and price lows as it creates or builds a trend. Uptrends contain a “higher high/higher low” price…
A quick look at the intraday charts of the S&P 500, Crude Oil, and the US Dollar Index reveal potential trend reversals and future price pathways. Let’s take a unified look at these related markets and plot reversal – or else trend continuity – price pathways (giving rise to trading opportunities). The Triple Chart perspective…
We started the day with an up-gap and have seen a Trend Day ever since. Let’s update our S&P 500 intraday chart, highlight sector breadth, and note the strong trending stocks of the day. We’ll start with the intraday update of the S&P 500: Today’s session showcases a Trend Day and we’ll be monitoring initially…
High-flying stock Priceline (PCLN) triggered a bullish breakout signal this morning with a thrust above the $1,300 resistance level. Let’s update our charts, note targets, and plan a contingency for a possible “bull trap” outcome. Here’s the Daily Chart with the Breakout impulse today: A simple glance at PCLN shows a slight sideways trend with…
I wanted to highlight a “Repeat Pattern” in the S&P 500 that can help us now in planning the next swing. Let’s take a look at the pattern and set our targets for planning: Note the yellow highlights when price trades down under the rising 50 (blue) and 20 (green) day EMA on the thrust…
With the breakdown under the key “Arc Trendline” Structure pattern in the Dow and S&P 500 (with something surprising happening in the NASDAQ today), let’s take a look at the new intraday chart and update our intraday (short-term) Fibonacci Retracement Reference Levels. We’ll start with the S&P 500: Using a custom indicator in TradeStation, we…
It’s good when logic trumps irrationality, and price retraces in a stable uptrend instead of charging higher every single day. Let’s take a look at the set-up, the current retracement swing in motion, and then plot levels to target as the market falls from the highs. We’ll start with the S&P 500: I first want…
I’m excited to announce an upcoming featured webinar by John Carter on Thursday, July 31st (to end the month!) on Trading Options Like a Professional. I’ve known John and attended many of his educational presentations since 2005 and highly respect his work and commitment educating traders in a simple, understandable manner. In this webinar (just…
If you’re not paying close attention, you may be missing the stealthily increasing positive correlation between stocks and bonds. Let’s cut through the charts and focus on the “Positive Correlation Creep” that’s taking place as seen in SPY (S&P 500 ETF) and TLT (a popular longer-term Treasury bond fund ETF). SPY (Green) and TLT (Red):…
Is it possible that US Steel (X) is finally catching a bid from a breakout (and reversal pattern) from a long-term resistance level? Could this be the start of a new long-term uptrend in price? Let’s take a look at the Weekly and Monthly Chart to give us some clues for a longer-term play. First,…