As traders, we’re often planning “IF/THEN” outcomes depending on whether price successfully supports and rallies up off a support area, or else fails by breaking support which opens a tradable move to the next level of potential support (target). Let’s take a quick look at the current simple support reference levels in the Dow Jones,…
The stellar intraday reversal in the US Equity Indexes mid-day June 3rd gives us a great educational reference lesson in visual chart patterns that tend to precede divergences and how we can adapt in real time. Let’s take a look at the downtrending intraday action, multi-swing (and multi-indicator divergences), and the trendline breakout that triggered…
What are near-term and longer-term trends in money flow on the Cross-Market or Intermarket Landscape revealing about the current environment and factors to be watching currently? Let’s start with the Daily Chart or Short-Term View and then broaden our perspective going back to 2009: As I do for weekly membership reports, I’ll use the SP500…
If you prefer range trading strategies, the recent activity in Crude Oil has been a bonanza for you. Let’s update our levels and trendline boundaries for Crude Oil and note potential impulse targets on any breakout of the tightly compressing triangle trendlines squeezing about the $93 midpoint area. We’ll start with the Weekly Perspective: I…
With the morning breakthrough above the $1,400 confluence resistance target level, let’s take a quick update on the new levels and targets for trade planning opportunities in Gold. We’ll start with the broader “Structure” Chart and then move to specific levels: As gold continued its downtrend at the beginning of May, the 3/10 Momentum Oscillator…
Which stocks are the most over-extended and under-extended from their 200 day Simple Moving Average and what trading opportunities do these stocks offer? Let’s update the scan and take a look at some of the opportunities that make this scan useful. First, here are the top five SP500 Stocks most Over-extended from their rising 200d…
The renewed focus on the potential for higher future interest rates led bond funds TLT and IEF to achieve a downside price support target quickly. Let’s take a look at this target which is the current key inflection level for traders to watch closely – with updated targets depending on what happens here. We’ll start…
Despite being Defensive Sectors that normally trade together, the Utilities (XLU) and Consumer Staples (XLP) Sectors have diverged sharply in May, resulting in a breakdown in one and another near-break to record highs in the other. Let’s take a look at these two Defensive Sectors and highlight what went wrong where. First, the featured XLU…
Toward the end of last week, Gold and the US Dollar Index developed a short-term trading range or “support shelf” between the 38.2% visual Fibonacci Retracement reference level. Let’s take a quick moment to update the structure and view these trading and short-term game-planning levels. First, Gold (@GC Futures) 20-min chart: For a broader perspective,…
It’s helpful to study the trades of the day to learn important lessons we can apply to future sessions. We want to know if we made any mistakes and thus need to correct them, or whether the market gave a valid trade signal yet real-time developments overruled the original trade, resulting in a loss. Sometimes…