Exchange Traded Funds are gaining wide popularity for investors and traders alike, and for great reasons. I need not trumpet the many benefits of trading or investing with ETFs. However, I wanted to bring up a recent example of Japan and the spike in trading of the popular EWJ ETF which left a few invstors…
I had a good question come in this evening which led to this post, clarifying one main tactic to trade (and forecast) with the NYSE TICK. The question was along the lines of: “Price and TICK both made a new high today but the bullish signal failed because the market reversed.” To which I thought,…
Popular stock Apple (AAPL) now faces a key “make or break” confluence level on both the daily and weekly chart that traders will find very interesting. Let’s start with the weekly chart and drill-down to find the important confluence level and thus the “IF/THEN” trading set-ups that are likely to come into play. Cutting right…
I’ve received a few requests to update current analysis on India’s “Nifty 50” index, and indeed after a big recent rally, the index is at an interesting confluence target level traders should watch very closely in the days ahead. Let’s start with the weekly chart and drop-down to focus on the confluence: Without getting into…
I’m overdue for an intraday trading lesson! Today gave us a great example of how to set-up, forecast, and trade a classic “Dead Cat Bounce” set-up on the intraday charts from a surprise or ‘shock’ move that created a large impulse move. Let’s take a moment and learn this lesson step-by-step, keeping in mind that…
Picking up on yesterday’s theme of “Higher Timeframe Perspectives,” let’s take a look at the larger structure of silver and learn a few lessons in commodity price breakouts which can travel higher than many traders think they can. Let’s start with the big monthly frame of Silver Prices: Keep in mind that silver prices are…
A lot of us intraday traders hyper-focus on the intraday charts and might come to one conclusion, but if we pull the perspective back to the higher timeframes, we might have an “A-ha” moment and see the broader picture that the intraday charts can’t reveal. Namely, the Russell 2000 just touched all-time highs, the NASDAQ…
As of this moment, Gold and GLD are threatening another poke-out to new lifetime highs this morning, so let’s zoom-in to the daily chart and see the current chart picture and current levels to watch for positioning. GLD Daily: Getting straight to the point, there is a clean horizontal band of lower support in the…
What do current market internals say about the stock market as we teeter at new recovery highs? Let’s take a quick look at the current multi-day structure and signals: Don’t panic when you see this chart – let’s take it step-by-step. First, we see the S&P 500 Index and the current stair-step rally from the…
It’s back – and you’d be surprised at how few changes there were in the Top Three Extended Stocks from their 200 day SMA. I originally posted a similar screen on March 21st and – surprise – there few changes to the top listing via the FinViz stock screener. Let’s take a look at the…