As we start April near all-time highs in the SP500, let’s take a quick look at pure price structure on three intraday frames and note key developments and levels in focus as a new month begins. First, let’s view the larger short-term structure from the 30-min chart: In simplest terms, structure refers to the progression…
As we end March and the first quarter 2013, let’s take a look at a simple reference chart of how volatility – in terms of intraday range and opening gaps – has cycled over the last few years while highlighting what the current conditions reveal about volatility. Let’s take a look first at the SPY…
A quick intraday glance at the US Equity Indexes reveals a sideways consolidation pattern with clear range boundaries that form the structure for short-term traders. Let’s take a look at the Dow Jones, SP500, and NASDAQ Indexes to highlight these patterns and whether the market may break through these levels in the near future. First,…
For short-term traders, Google (GOOG) is forming an interesting compression triangle pattern that may warrant our attention. Let’s start with the Daily Chart, note the key levels with structure, and then zoom into the lower frame charts to highlight a price compression triangle at work. Starting with the structure, Google (GOOG) remains so far in…
Let’s take a quick look at a Fibonacci Retracement Confluence Grid (chart) for the US Dollar Index and see what levels are critical support and potential future targets for the index. The chart above shows the US Dollar Index ($DXY) on the hourly chart with five Fibonacci Retracement grids stretching from the recent closing high…
I’ve often documented periods where the SP500 (and related indexes) trended steadily between the first and second “sigma band,” and we’re in another period of similar behavior. Let’s update the current S&P 500 and Dow Jones “Sigma Band” (standard deviation) chart and note what levels to watch for clues. The chart above shows the S&P…
With a week of ‘creeping trend’ behavior, what are key Market Internals revealing about yet another “new recovery” high made this morning? Let’s take a look at the message from recent and current market internals on the S&P 500: Starting with the past and moving to the present, I highlight (yellow) to periods where internals…
The S&P 500 continues to trade within a well-defined broadening triangle pattern while the Dow Jones broke above a key rectangle resistance pattern along with a smaller triangle pattern, according to market structure. Let’s view the Triangle Boundaries on the S&P 500 along with the updated ‘breakout impulse’ structure on the Dow Jones. The broader…
With the Dow Jones at new lifetime highs and the S&P 500 similarly breaking a resistance level to new recovery (but not all-time) highs, what does the snapshot of Market Internals reveal about the breakout? Let’s take a quick mid-day look on the message, starting with the 30-min view: Cutting straight to the point, BREADTH…
I’m excited to announce that I will be presenting a webinar Tuesday March 5 after market close as part of the “Spotlight On…” series from TradeStation and would like to invite you to join us! The educational webinar will take place March 5th at 4:30EST / 3:30pm CST and I will discuss my strategies for…