What’s going on with the popular Emerging Markets ETF (EEM) and what are the key higher timeframe reference levels? Let’s take a look, starting with the higher weekly structure which identifies the two main levels: Cutting right the main point, major confluence support (Fibonacci and 200d SMA) resides at the $38.00 per share level –…
With the recent sharp downturn in the stock market, we have a new list of most “over-extended” and “under-extended” stocks from their 200 day Simple Moving Average. Let’s take a look at the current scan results of most extended S&P 500 stocks, starting with most over-extended: To recap briefly, the purpose of this scan is…
Sometimes, it’s very important to strip your chart of all indicators and just focus on the message from price, which comes through clearest without all the clutter. There’s a very clear message from price itself in terms of range/value reference areas, so let’s listen to what price says and how we should treat these key…
You’re probably aware of the large price breakout in defensive bond ETFs TLT (20+ year) and IEF (7 – 10 year), but it’s always worth reviewing along with current price levels to watch for support or a reversal signal. Let’s start with the daily chart of the popular TLT fund: Investors can turn to TLT…
What tends to happen when gold forms an intraday “Three Push” price pattern on multiple-swing negative divergences into an overhead “Round Number” price resistance level? Let’s take a look at another excellent example of this important trading concept/set-up that triggered successfully at $1,800 on August 11th and just recently on August 22nd: Take a moment…
While Gold received most of the headlines/attention in the last few weeks, what has been quietly happening to Silver and Platinum prices? Let’s take a look at the parabolic move in Gold and see what the companion moves have been in related precious metals Silver and Platinum. Ever since breaking firmly above the $1,600 resistance…
On the weekly chart picture, a clear floor of support exists where we start the week of August 22nd. Let’s take a quick weekly look at the Dow Jones and S&P 500 as we start the week with respect to this higher timeframe confluence/key support area. There are three specific chart-points to watch on the…
Since uniting in 1998, US Equities have displayed a strong positive relationship with the 10-Year Treasury Note Yield, and we can gather insights from that relationship. Let’s start with the monthly frame and work down to the daily chart to assess the relationship and the current signals from this important Inter-market Pair: There’s a little…
I wanted to share a link to a post from Mike Bellafiore of SMB Capital entitled quite ambitiously “You Need to Make More Money Now.” Toward the end of Mike’s book One Good Trade, he details how markets have changed over the last decade in terms of volatility/narrative and how traders must adjust accordingly. It’s…
I wanted to follow-up from the post “Lessons from Gold’s Three-Push Divergence into $1,800” from last week with an additional trading example of how to piece together the chart puzzle into a successful low-risk, high probability trade on the very short-term structure. Let’s take a look at the chart and study the lesson from the…