Yesterday’s divergences into resistance set the stage for a down-swing – and that’s precisely what happened. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Yesterday saw a rally into the 1,875 upper resistance target – on negative divergences I highlighted – and the end-of-day activity was a…
Gold is challenging the underside of the $1,200 key target level after a strong rally. Let’s update our short-term charts and plan the next swing from here: On the intraday frame, we can see the strong rally “up away from” the $1,150 level “toward” our $1,200 target. Buyers have taken profits logically into the underside…
Which five stocks are most over-extended above AND beneath their 200 day Simple Moving Average? Let’s highlight these candidates on our monthly stock scan. We’ll start with the stocks most over-extended to the upside (given the 2016 downtrend): Let’s take a moment to define what we’re seeing. This is a simple stock scan (from FinViz.com)…
Up, back down, up, back to a new low, and now off to a new high – that’s today’s session in a nutshell. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Our 1,835 SP500 target was achieved yesterday and price rallied up into the close on positive…
Which of the nine major sectors is currently the strongest, which is the weakest, and what does that say about the likely future of the stock market? Let’s take a look. The simple price comparison charts above – noting trend – highlight the nine main AMEX Sector SPDRs. We use this as the basis of…
Two months into 2016 and the stock market is falling to fresh new downtrending lows. Let’s take a quick look at the chart, note the new trend and highlight the key levels for planning and trading. We’ll start with the Daily Chart of the S&P 500: I highlighted the short-term Bear Flag (blue trendlines) to…
Tech stocks lead the market lower and there are some surprising drops in major names. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: I highlighted the Negative Divergence and Bull Trap for you (and members) yesterday morning and indeed the trap scenario was accurate. Buyers pushed the…
With price collapsing once again as the downtrend continues, the S&P 500 index faces a critical “make or break” challenge at a key pivot level. Let’s pinpoint this level and get ready for the next swing yet to come. Here’s our simple Daily Chart with reference levels: Before focusing on the current level, be sure…
We’ve been targeting the $1,150 level in Gold and price achieved that key target this week. What’s going on and what’s the next trade plan for gold now that this one was successful? Let’s see and plan it! In the Weekly Member Reports, I’ve been calling for a third “counter-trend rally higher” toward the $1,150…
Yesterday saw a bullish “surprise” reversal and today gives us the opposite – a bear trap and bearish reversal. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Price rallied up and reversed yesterday from a visual positive momentum and TICK (internal) divergence… and we see the bearish…