We’re seeing another sharp rotation of money flow out of stocks as seen by price itself and the rotation into defensive sectors again. Let’s start with our mid-day Sector Breadth Grid to assess the damage (and opportunity): If we go back to intraday updates from “April 7th Collapsing Breadth” along with “April 4th Reversal Day,”…
Intuitive Surgical (ISRG) is the weakest performing stock today (largest percentage loser) in the S&P 500 which prompted me to investigate more about this stock and its chart. A quick glance at the Daily Chart shows a “Break and Fake-out” situation along with a sudden reversal back to the breakout price. April 1st triggered an…
Well that was a relief! Price continued to rally up off the key support level and parallel trendline structure (see yesterday’s Triple Index Update for key reference levels) and we’re seeing a return to short-term bullish money flow. Let’s start with our current mid-day S&P 500 Sector Breadth Chart: Unlike yesterday’s clear bearish sector money…
With a sudden reversal off expected support in the S&P 500, let’s dig a little deeper and study sector breadth and update our potential trend-day trading stocks for the remainder of the session. We’ll start with S&P 500 Sector Breadth: While Utilities remain the #1 Sector so far, Energy trails closely behind. Unlike yesterday’s “Clear…
After a Bull Trap outcome sent equity prices back to the lower support boundary, let’s take a moment to update the key levels to watch in the US Equity Markets. We’ll start with the S&P 500 and will use the futures contracts for our reference levels: For simplicity, this post will focus on the key…
Students of Market Internals know that Friday’s and Monday’s sharp downside reversal in the US Stock Market was a likely outcome from the message sent from market internals. However, that’s not the complete picture, nor is it as simple as “Divergence Equals Reversal.” First, take a moment to review my “Charting Market Internal Divergences at…
If you’re a fan of John Carter’s educational work with traders, you’re in for another special treat as he details lessons from 2013, a year in which he grew his account $1,000,000 richer. He released a 5-min teaser video this morning and will be presenting his specific lessons learned from 2013 (and the “A-Ha” game-changer…
At the halfway point of an extended sell-off in the Stock Market, what message does our “Sector Breadth” chart send and which stocks may be intraday “trend day” trading candidates? Here’s our April 7th sell-off intraday update: Just like Friday’s “Market Collapse” update where Sector Breadth was clearly negative, today’s session shows similar “collapse” parameters….
What a day this has been so far! Let’s get right to our intraday Sector Breadth update and trend day trading candidates (hint – there’s far more bearish stocks trending down today than those trending up). Here’s our SP500 Breadth Chart: A quick glance shows a huge spike (bullish money flow) into “Risk-Off” or Defensive…
I’m looking forward to a special webinar with Trader Kingdom that will take place Thursday, April 3rd at 4:30pm EST / 3:30pm CST and I hope you can join us! The webinar is entitled “Specific Strategies to Conquer Fear in your Trading” and here is the official description from the website (which includes free registration…