Price provides a choppy Range Day environment for traders ahead of tomorrow’s “Fed Day” announcement. Let’s chart key levels, note breadth, and highlight the stocks in play for today’s session. We’ll start with the intraday update of the S&P 500: Today’s session developed a Range Day or consolidation session between the 1,985 high (the opening…
Former high-flyer Plug Power (PLUG) could be setting up another bullish breakout and run for the prior highs. Then again, it could be luring buyers into the stock like a seductive siren’s call. Let’s take a look at the chart and decide which levels are key for trading a potential bullish breakout and avoiding a…
If you haven’t charted or traded Intel (INTC) in a while, you’re missing an amazing “arc trendline” or exponential rally pattern. Let’s take a look at the pattern, compare similar examples, and plot a potential future for this newly high-flying stock. I wanted to start with a pure-price trendline view of the exponential growth (rise)…
It’s time to take a look at what’s happened this morning, what Breadth is saying, and which stocks are potential Trend Day candidates as we start this final week of July 2014. We’ll start with the intraday update of the S&P 500: We had a quick and volatile turn-around (reversal) up off the 1,970 index…
What fascinating pattern is developing into a key support level for Harley Davidson (HOG) shares? Let’s study the “interesting arc” trendline pattern and note the pivot point that will either serve as a floor of support (a buy signal) or a breakdown reversal signal (should support fail). Here’s the Broader Picture Daily Chart (note Support):…
I’m actually a little surprised that the market is falling like it “should” be doing, or at least as was highly logical given the negative divergences at the highs. Start by refreshing your perspective from yesterday’s “S&P 500 Gasping at New Highs with Clear Negative Divergences” update which sets the stage for today’s expected sell-day….
We’re seeing a familiar Hollywood script play out with price chugging to new highs as internals, volume, and momentum run the other way. While this isn’t a panic signal, let’s at least highlight the extended divergences and “fumes” that continue to accompany a market creeping its way higher. We’re seeing the S&P 500 Index stair-step…
Electronic Arts (EA) surprised to the upside yesterday on earnings but failed to impress traders with tepid future guidance and we’re seeing a sharp gap-down and sell-off from the recent highs. Let’s take a look at this strong trending stock, note two prior ‘pullback’ scenarios, and chart the probabilities of what to plan now. Here’s…
Once again we ask the question, “How high can this market go?” Today saw a new all-time intraday ‘breakout’ high for the S&P 500 and we focus our attention – and trading plans – on the breakout level and potential for additional upside continuation via a short-squeeze. Let’s update our S&P 500 chart from the…
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