One of my favorite set-ups takes into account a visual intraday divergence into a known higher timeframe key support or inflection level. That’s what happened this morning – as I highlighted in yesterday’s planning post – and it has resulted in a stellar rally and great real-world educational example. Let’s step inside the market this…
If you follow Cross-Market analysis or Intermarket Analysis, you may have noticed a subtle shift or bend in current relationships in 2013. Let’s take a look at the recent shift, note what’s happened, and then peek at the broader picture of cross-market money flow in 2013. For a reference, we’re seeing the leading ETFs (Exchange…
If you’re interested in how a professional trader successfully uses Weekly Options, or just interested at all in the topic, then set aside some time this evening to join professional trader John Carter as he presents a webinar entitled “Beating the Market Makers” where he will describe the strategy he uses with weekly options. The…
After breaking under the rising 20 day EMA (as mentioned in the prior update), the SP500 traded quickly down toward the 1,655 support and indicator confluence. Let’s update the plan and see what the chart suggests to do at the new price inflection (planning) level. Here’s the Daily Chart so far: I wanted to use…
With the pre-market futures gapping lower under a key support level, let’s step back to see the picture of Market Internals behind the price action. Price has formed a sideways consolidation rectangle pattern between the 1,685 and 1,700 index levels along with a “Bull Trap” or failed breakout above the 1,700 key target. During August,…
I wanted to highlight a new video from John Carter on how he has been successful using Weekly Options which are a relatively under-used area of the options market. In his new part-promotional, part-educational video, John shares some of his insights along with a broad overview of his strategies and why he prefers using the…
After spending months consolidating with a “Rounded Reversal” basing pattern, Apple (AAPL) shares powerfully broke a critical resistance level which triggered an official trend reversal signal. Let’s view the chart from the top-down, starting with the Weekly Chart: In my prior August update for Apple (Apple Trades into Overlapping Resistance Target), I highlighted the confluence…
After triggering a retracement or bear flag trade recently, gold buyers rushed in to prevent the sell-off and continue the ongoing trading range in price. Let’s take a look at the sudden bullish reversal and note key ‘range’ or trendline levels to watch going forward. We’ll start with the Daily Perspective: Let’s start with the…
Here’s a quick update regarding the conflicting trendlines for the US Dollar Index along with a weekly trendline which may be standing in the way of a daily “Broadening Formation” pattern that’s been developing. Let’s take a look at these chart structures and the key levels to watch going forward. We’ll start with a quick…
I wanted to highlight an educational opportunity from Jeffery Kennedy’s upcoming Wednesday August 14th webinar “Uncover Hidden Opportunities from the Wave Principle.” Jeffrey is the lead commodity analyst at EWI and has just released a new book “Visual Guide to Elliott Wave Trading” (Bloomberg Finance) and he will be presenting a 45-minute educational/introductory webinar for…