I’ve been saying that the 1,150 level is the next likely target once 1,121 was broken, and the market is struggling to overcome the 1,150 level currently.
Let’s take a look at an additional reason why 1,150 is an important barrier for the S&P 500.
I wanted to show a quick chart of the current mid-day SPY (S&P 500 Index) on January 14th to highlight a good example of price compression/consolidation which is often a precursor to a price breakout in one direction or the other, according to the “Range Alternation Principle.” Let’s take a look at the current intraday chart.
A reader from Australia recently asked me to post an update on the Australian All Ordinaries Index, and here is such an update on a key level to watch on the weekly frame.
On news that Google (GOOG) might be pulling its services from the Chinese Market over long-standing disputes, shares of Google’s competitor Baidu.com (BIDU) surged today, bouncing off a critical weekly support level to recapture lost territory and now stands dollars shy of a new lifetime high.
It’s make or break here at the 4.0% level again for 10-Year Treasury Yields. Let’s take a look at the monthly and weekly chart to emphasize the importance of the dividing line at the 4.0% area.
Market Internals are good leading indicators of the likely pathway ahead for price, as they allow you to take an “X-Ray” of what’s really going on behind the scenes on a price move.
Let’s take a look at the key market internals through the whole recent rally and what they’re showing right now.
Like a fever that does not seem to go away, the S&P 500 finally a lengthy rising consolidation trendline channel this morning and continues to fall by mid-afternoon.
Let’s take a quick look at the pure price move over the recent weeks and then look at possible levels of support to wat
I just wanted to post a reminder that tonight begins my three-evening in-depth webinar series entitled “Price Principles and Trading Strategies Enhance Your Trading Edge” which is sponsored by Tim Bourquin of TraderInterviews.com. Full details of what I will be covering are provided at the registration page at TraderInterviews.com, and a partial list includes: Accumulation…
Cheesy title, I know, but today’s column for GreenFaucet.com’s Technican’s Edge is about an overhead weekly resistance level to watch in the Agricultural (Agribusiness) ETF with symbol MOO, which has been pushed strongly higher by investors into a key final resistance level that may be broken. Let’s take a look: The main idea is that…
We’ve come up to another key level to watch in the S&P 500, but this time, it looks like the last major line of defense for the bears/sellers in this market… and with further upside momentum, we’ll shatter right through it too.
Let’s see this monthly level and note what to expect from here.