I received a request to update the analysis on the CRB Index and I realized it’s been quite some time since I posted a CRB update. Without further delay, let’s take an updated look at the weekly and daily CRB Index, a basket of commodities charted as a composite index. A quick glance shows us…
A standard mid-day check of market internals shows us a blatant negative divergence – this time with market internals turning negative as price clawed its way to a new swing high this morning. It’s a situation you certainly need to watch closely. Let’s take two perspectives of the SP500 Market Internals. First, the standard view:…
Goldman Sachs (GS) and British Petroleum (BP) no doubt have been widely covered in the media, both with negative coverage in the wake of two unrelated events – a lawsuit for GS and the Gulf oil spill for BP. Despite their differences, their chart patterns remain similar, and this update shows the positive divergences forming…
I frequently post updates on NYSE Market Internals positions when looking at the S&P 500 because knowing what’s “Under the market’s hood” is extremely important just just for day traders, but also for swing traders. This post takes a look at the three market turns in June 2010 and specifically highlights the market internal divergences…
Today’s rally took us up to the expected overhead resistance target at the 1,070 index level, but what prices to we watch for resistance levels if buyers push the index above 1,070? Let’s look at the daily chart for those price levels to target. Today’s chart is taken from the “Forecasting Tomorrow” section of today’s…
While market internals recently turned positive to suggest a rally higher, now that the rally higher has materialized, these same market internals are turning lower in a negative divergence, suggesting a different story. Let’s take a look at the current chart of the S&P 500 and market internals: The chart shows the S&P 500 index…
Silver is forming a multi-timeframe arc pattern that’s worth watching, as well as key support levels also across the two major timeframes. Let’s start with Silver’s weekly structure chart, note levels to watch, and then move to the daily chart of SLV for similar arcs and levels to know. Silver Futures Contracts – continuous –…
Let’s take a look at the S&P 500 daily chart to see what levels to watch and what to expect going forward in terms of opportunities in the price structure. S&P 500 Daily: We see the market in a highly probable bounce off the 1,010 level as I wrote last week in the post “Hidden…
If you went to sleep last night and checked the stock market futures, you probably thought that today would be yet another down-day. However, as you slept, the market staged an impressive turn-around to bring us to where we are right now mid-day Tuesday. It’s a fascinating reversal, and shows us the importance of watching…
Traders who monitor volatility, particularly in regard to option trading strategies, closely monitor the VIX – Volatility Index. Others watch the VIX to get a gauge on fear of market participants. Either way, if you look closely at the recent move in the VIX – you’ll find something quite interesting: A clean divergence between the…