I describe trading candidates and possible action for selected, low-risk trade ideas to review.
Were there chart signals the market gave ahead of the afternoon reversal and breakout into the close after the morning Jobs Report drop? Absolutely – it turns out there were at least four early signs that odds had shifted away from the bears and towards the bulls which was confirmed with the afternoon breakout. I…
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…
Those who follow Goldman Sachs (GS) chart moves are undoubtedly aware of the importance of the “Support Shelf” at $130.00. Let’s take a look at why $130 is critical support to watch for this leading financial stock – and what it might mean for the market if support holds… or breaks. First, a price purism…
Last night I was doing relative strength analysis on stocks to the S&P 500 year to date and found out that Monsanto (MON) was the second-worst performing stock – relative strength wise – in the entire SP500 year to date. It wasn’t that long ago that Monsanto and Potash (POT) were high-flying stocks that swing…
I always enjoy highlighting unusual or strange patterns from an educational perspective on the blog, and just now we have an opportunity to look at setting targets and playing two symmetrical triangles – in both directions – on the intraday SPY chart. Let’s see the patterns and learn the suggested trading tactics: (click for full-size…
Now this is interesting – Chipotle Mexican Grill – CMG – is currently a popular, high-flying restaurant stock that I’ve been hearing mentioned around the Trader’s Expo here in Los Angeles. Naturally, I had to take a look at the chart. It’s at a very interesting inflection point, and it warranted a blog post to…
For the second day in a row, we’ve had an afternoon reversal rally after prior divergences in internals – that’s unusual but it does happen and it can reveal the character of the market. It’s also a lesson in active trade management. Let’s look at the Reversal and the “Popped Stops” Play that followed: To…
The market has pushed into a key resistance level – the 1,100 area – and all three key market internals have deteriorated, which is a non-confirmation and potential bearish signal at the highs. Let’s take a look: Pay close attention to the new intraday – and short-term recovery – high of 1,105 that formed this…
Gold prices always keep investors on a bumpy ride, though the ride has at some points been straight up.
Let’s take a quick look at the interesting arc pattern – curved trendlines basically – that gold prices are forming and where we stand within that pattern.
Despite all the volatility in the stock market, crude oil has been falling almost in a straight line, and a lot of people are unaware of this major sell-off in such a major commodity.
Let’s take two perspectives, focusing on divergences, of the entire rally phase and the current range breakout to the downside.