Is the market topping or is this just another in a string of smaller “repeat top” patterns for the S&P 500? Let’s take a look at a recently repeating pattern and chart the levels to watch if history does indeed repeat. I highlighted three similar periods where the following factors developed on the chart: Retest…
With the S&P 500 tipping to a weak all-time high Friday, what does the Sector Performance Grid reveal about the health or weakness of the market? Let’s take a quick glance at the Sector Rotation Model and the message it is sending year-to-date: According to the Sector Rotation Model, we separate the nine major AMEX…
What is Sector Breadth revealing about the health of today’s rally, and which stocks are the best candidates for possible trend day trading strategies? Let’s start with Sector Breadth and go forward from there: At the moment, 73% of S&P 500 stocks are up during today’s session while 67% of Dow Jones stocks are higher….
On the surface, Amazon (AMZN) shares triggered a mini-Bull Trap on a break through daily resistance, only to collapse against a hidden wall. Let’s take an advanced view of the longer-term chart then step inside the recent reversal to plan the next price swing and possible targets for shares. The chart above shows two Andrews…
If you’re new to options trading, it can be helpful to learn as many strategies as possible before focusing on a tactic (or set of tactics) that you understand and can implement consistently. Options strategies range from the simple (buying a put or call instead of buying or shorting shares of a stock) all the…
Which stocks are “Trend Day” Candidates and what is Sector Breadth revealing about today’s session? Let’s start today’s mid-day update with our Sector Breadth Chart to get a sense of the broader picture: Similar to yesterday’s “Fed Day” session, we’re seeing strength in Technology and Energy but clear weakness in Utilities. After the Federal Reserve…
While most traders have gone cold on Apple (AAPL) – understandably so – it may be worth your time to take another look at this tightly compressed stock that may be setting up a breakout event. Let’s start with a Bollinger Band “Squeeze Play” Chart of Apple: I drew a grey rectangle around the “Value…
On today’s special “Fed Day” session, which stocks are the strongest intraday trenders (there are some strong trends today despite the flat market action) and which are sell-off candidates? Let’s start with our big intraday uptrending list: As we’ll see from our S&P 500 Sector Breadth Chart, the broader stock market is flat ahead of…
On yet another powerful bullish session in the S&P 500, which individual stocks are riding high (and may extend their current intraday trend) and which ones are fighting the trend by trading in an intraday downtrend at the midpoint? Let’s start with our intraday uptrenders: Our potential uptrend continuation (for a Trend Day) candidates include…
Despite a strong uptrend, Celgene (CELG) shares face a critical challenge at a make-or-break(down) support level from a potential Head and Shoulders Reversal pattern. Let’s take a look at the pattern, note the “neckline” support line, and plan contingencies for the short-term future. Here’s the Daily Chart with indicators and H&S Pattern Illustrated: Celgene (CELG)…