What message are the Big Three Market Internals sending us as we challenge an upper ‘boundary’ or reference level of our ongoing S&P 500 Rectangle? Let’s take a look – the message is clear but the outcome is never guaranteed: As is always the case, we monitor Market Internals with price, particularly comparing price highs…
Biogen (BIIB) is setting up an inflection or “Pivot Trade” that we can study as it unfolds in real time in the week(s) ahead. Let’s take a look at the set-up and plan the targets from a movement away from the current “make or break” pivot. Here’s the Daily Chart and key level: I crave…
What a difference a day makes! In yesterday’s mid-day update, I highlighted a broader bullish signal from breadth, namely from weakness in utilities and strength in all other sectors. The suggestion was that price would likely continue higher. With today’s session another gap-up and trend event (so far), we saw that signal fulfilled; however, on…
Sometimes the simplest things are effective for finding candidates to trade on a short-term or intraday basis. For example, if you want to identify strong stocks that are likely uptrending – and may continue to do so – scan for stocks bursting to new 52-week highs in an uptrending market (particularly in strong sectors). Let’s…
We finally have broad bullish sector breadth for today’s bullish bounce session. Let’s take a look at S&P 500 Sector Breadth and the current trending stock candidates: In the previous bullish bounce sessions, we’ve seen “caution” signs coming from sector strength in Utilities and Energy. This time, we see broad bullish breadth where Industrials ($XLI)…
April 15th brings a lunar eclipse (blood moon) and “tax day.” Putting those things behind us, let’s take a look at our intraday update for S&P 500 Sector Breadth and identify which stocks may provide trend day trading candidates in the event we see a similar session to yesterday’s trading day. For yesterday’s update, I…
Following-up on this morning’s intraday Breadth and Trending Stock Scan update, let’s take a quick look at the seven stocks pushing to new 52-week highs and the one lonely stock breaking to a new 52-week low on today’s bullish support bounce intraday session. The following stocks pushed to new 52-week highs today, as seen on…
While the broader US Stock Market rallies sharply off an inflection low today, the Sector Breadth performance sends caution signals despite broader bullish price action. Let’s see what’s going on under the market and identify our key trending stocks for today’s session. Despite across the board bullish price action where 90% of Dow Jones and…
With the broader market breaking a key support level this morning, let’s take a quick look at mid-day Sector Breadth and view the results of our Trending Stock Scan candidates. Here’s current Bearish/Breakdown Sector Breadth: We’re seeing another clear example of Bearish Breadth where the strongest sector is Utilities ($XLU) followed by Energy ($XLE). All…
With the US Equity Markets correcting lower against recent highs, let’s take a moment to update our short-term Fibonacci Retracement Reference levels and note something very interesting about how far the NASDAQ has fallen. We’ll start with the S&P 500 levels: The S&P 500 is stair-stepping lower, starting with the 38.2% Fibonacci Retracement level which…