As we did with the recent update on Gold’s structure and key levels, let’s take a look at the current progression and price structure that’s developing in Crude Oil. As an educational bonus, we’ll review one of my favorite chart patterns that completed with a powerful outcome. First, the Hourly Intraday Structure Chart of Crude…
After a sharp rally up off the$1,550 initial target support level, gold broke today above the key $1,600 ’round number’ reference level. Let’s update the intraday structure charts of gold and make a note of the $1,600 breakout and what area draws our attention currently. First, the Hourly “Price Structure” Chart of Gold: Gold is…
For this month’s update of the “Top Five S&P 500 Stocks Most Extended from their 200 day SMA,” we have two very popular stock names on opposite sides of the scanning results. After a stellar reversal and strong rally, Netflix (NFLX) takes the top over-extended spot while Apple (AAPL) makes its debut in the top…
What happened today (February 20th) and what are Internals and Market (Price) Structure suggesting about the present and short-term future of the S&P 500? Let’s take a quick look at the sharp post-Federal Reserve minutes announcement and make sense of the current environment and key levels to be watching this week. First, a look at…
As intraday or short-term traders, we often get caught up in our particular futures contracts, ETFs, or favored indexes and we can easily miss the bigger picture in related or similar indexes, especially on the larger frame. That’s the case currently for those of us (I’m guilty too) who focus most of our attention on…
With the S&P 500 pushing to the 1,525 target – a new recovery high – what do Market Internals say about the health of the rally that price doesn’t reveal alone? Let’s pull back the hood of the market to assess an interesting pattern forming in Market Internals: The chart above shows the S&P 500…
While consumer staples/defensive stocks may not be the most exciting names in the market, they can offer stable uptrends along with their stock dividends. Day traders won’t gravitate toward these stocks due to the low relative volatility, but swing traders and some investors may use them in their growing portfolios as stable, consistent plays. Let’s…
I’m a big fan of so-called “EMA Compression” patterns because they often set-up breakout opportunities from clear reference levels. Let’s take a look at the Daily Chart “EMA Compression” pattern in gold and what levels are important in the near future. The main idea here is to recognize the price compression or consolidation between the…
Netflix (NFLX) recently attracted trader and investor attention with the recent gap-up and reversal off its 2012 low, so let’s take a moment to view a key Fibonacci pivot level and assess the Rounded Arc Reversal pattern that brought the stock to its current point. As a bonus, let’s look at price levels that may…
If you use the NYSE TICK (or related Market Internal) in your intraday or short-term trading decisions, it’s important to know what levels are important for the indicator and they do change. Let’s take a look at the daily distributions and key high/low levels in the NYSE TICK and learn a quick lesson in “TICK…