While the S&P 500 is breaking again to all-time highs in today’s session, let’s peek behind the price and take a look at the message from the “Big Three” Market Internals. To start, it’s a message of current caution: The straight-up march from the 1,840 support level (see my prior post “Key Inflection Support Planning…
With the trading day more than halfway complete, let’s take a look at the top intraday trending stock candidates along with our intraday Sector Breadth grid to set the stage for the remainder of the session. We’ll start with our Sector Breadth Grid: We use intraday Sector Breadth both to get a sense of the…
Facebook (FB) shares face a major “make or break” support challenge at a key opportunity level for traders. Let’s set the chart up to plan a potential “support bounce” or “alternate trend reversal breakdown” play for FB. We’ll start with the broader Weekly Chart for a top-level reference: We see a strong uptrend took shares…
What does “Sector Breadth” reveal about today’s session (and which sector should we be avoiding from the long side today?) and which stocks top our intraday up and down trending list? Let’s start with Sector Breadth to begin today’s Mid-day Stock Market Update: Our Intraday Sector Breadth (stocks in the S&P 500) Chart shows strength…
As we end March and the first quarter 2014, let’s take a quick look at the current S&P 500 trend, key levels in play, the current short-term range and update last week’s “Key Inflection Support for S&P 500” post. First, be sure to read last week’s “Support Bounce Play off the 1,840 Level” post –…
As we end the week, let’s look at three stocks that top the “Most Consecutive Down Days” stock scan – these can be aggressive “retracement/reversal” candidates going into next week. We’ll start in order of number of down-days (daily chart) in a row: Westport Innovations (WPRT) tops our scan with 14 down (sell) days in…
Amazon.com (AMZN) shares hit a confluence support target today, as I highlighted originally in the post “Charting a Hidden Resistance Level in Amazon.” Let’s update the analysis to include the newly achieved target and visualize a support bounce… or steeper retracement breakdown play. We’ll start with the Daily Chart update: As referenced in the “Hidden…
The S&P 500 continues to play out the “Repeat Topping Pattern” scenario I mentioned to members and on the open blog. So far, price has moved down against the 1,875 level as expected toward the initial support target into the rising 50 day EMA. Let’s update our chart and plan scenarios based on whether price…
With a strong mid-day downside reversal, let’s update our current Sector Breadth Chart (the message is very clear) and highlight our uptrending and downtrending stock candidate list. Let’s start with our broader S&P 500 Sector Breadth Chart: A quick glance shows strength (money flow) entering the Defensive Names such as Staples ($XLP), Health Care ($XLV),…
A quick glance at the Daily Chart of Netflix (NFLX) shows a critical support-test happening today. Another failure here from the buyers opens Netflix shares to descend into a clear “Open Air Pocket.” Let’s set the stage for a “support bounce” or entry into a pocket (with more downside targets) for Netflix shares: Before we…