It’s not common when the 20 and 50 week EMAs play a key role in providing both support/resistance as is the situation currently. Let’s take a quick reference glance at the S&P 500, Dow Jones, and NASDAQ weekly charts to highlight these key EMA compression levels and what this means for the current structure. First,…
I find it helpful to step inside sector performance when assessing the health or potential weakness ahead for the broader Stock Market. Let’s take a look at recent signals before and after the sharp May stock sell-off along with what signals appear currently. First, let’s compare the Consumer Discretionary (Retail) Sector with the Consumer Staples…
After a steady retracement took the US Stock Market Indexes to lower support level targets, let’s take a look at these targets and what Index levels we will be watching closely in the week ahead. Let’s start with the S&P 500: The key chart levels we’ll be comparing across the three indexes are the 38.2%…
The Summer session of the Trader’s Expo is rapidly approaching! It’s time to go ahead and make plans to attend the Traders Expo in Dallas, Texas June 6-8 if you will be able to attend. If you’ve attended a prior Traders Expo, you know how fun and beneficial they are for you as a developing…
As we start Wednesday morning with a bullish gap, let’s take a quick step inside the market for a “Breadth Check-up” on the S&P 500. Here’s the intraday chart structure: What we’re seeing is the S&P 500 Index on the 5-min frame with two Market Internals that show Breadth: $ADD: NYSE Breadth (Advancing Issues minus…
India’s “Nifty 50” Stock Index currently faces a key inflection support level at the 4,800 level. Let’s take a quick look at the Index and plan for potential action at this visual chart level. First, let’s see the Confluence Support Line that develops from the Weekly Chart: Again, a quick glance shows the 4,800 Index…
Here’s an update to a prior volume-centric post that highlighted the April trend towards Distribution Volume in the US Equity Markets. The recent sharp sell-off confirmed the earlier signals and added to the broader Distribution Picture. Let’s take a look at the current “Volume Only” color-coded SPY and DIA (S&P 500 and Dow Jones ETF)…
One of the big headlines of today was the sharp decline and breakdown under chart-based support in Gold. Let’s take a look at what happened, what levels are important here, and what current structure reveals. First, the intraday 30-min “Structure” Chart of Gold: When we’re assessing “Market Structure” or “Swing Structure,” we simply note the…
Which stocks are most over or under-extended from their 200 day simple moving average? Let’s take a look at the current scan results and the opportunities these stocks may present. First, here are the most ‘bullishly over-extended’ stocks in the S&P 500: This scan returns the percentage distance above or below the 200 day Simple…
Many traders have been following the stellar move in Chipotle Mexican Grill (CMG) though the recent sharp pullback has spooked many participants. Let’s take a look at the key short-term price levels (and chart structure) to watch for potential opportunities in the weeks ahead. First, the Daily Chart levels: Two main levels have developed on…