For those of you who use the NYSE TICK in your intraday trading, it’s very important to understand that the reference TICK extremes – highs and lows – changes as a factor of market volatility. What that means is that you can’t just call a +1,000 or -1,000 TICK reading “extreme” – the value of…
What do we see when we look “under the hood” at the market by viewing current Market Internals? Let’s take a look with the bigger picture and drill down from there: Click for larger image. The 30-min intraday chart above gives us the perspective from the recent “Symmetrical Triangle Breakdown” from last week. New TICK…
So far, the Symmetrical Triangle Pattern has held firm, containing this week’s moves into the upper and lower compressing trendlines. Let’s update the original “SPY/S&P 500 Symmetrical Triangle” post from earlier in the week with a mid-week perspective: The dominant trendlines have compressed to the 1,260 and 1,240 area (plus or minus a few index…
Oil put in a stellar upside performance from October to present, and now faces yet another “Resistance Challenge” (it’s passed the others so far) into the $100 price resistance confluence. Let’s view three timeframes of Crude Oil to see what to look for and what might come of the “Battle for $100.” The main idea…
Gold fell sharply from the $1,800 resistance level, so let’s take a look at what led up to the fall and what the current structural levels to watch are for gold, including a Fibonacci Cluster near $1,730. First, the Hourly Structure: First, Gold’s Hourly (intraday) structure is in a confirmed UP-Trend as evidenced by the…
AutoZone (AZO) is a stock I’ve been watching – and amazed by – for a while, mainly because it just doesn’t seem capable of a full trend reversal! Let’s take a look at the strongly trending price action from 2010 to present, and note the change in “angular momentum” or “angles of ascension” (trendlines) and…
Mid-October gave us back-to-back examples of one of my favorite patterns and trade set-ups – that of the intraday trend reversal on clear positive dual divergences. We’ll be using the @ES Futures as our proxy, but this example extends to any index futures contract or related ETF (including the leveraged funds). Let’s take a moment…
With US Equity Indexes threatening a breakthrough above key overhead resistance, what are market internals hinting about the current state of the market and the strength of the recent rally? Let’s take a look, starting with the 10-min chart: We’re seeing the “Big Three” market internals – Breadth ($ADD), NYSE TICK, and Volume Difference of…
Wow – if you missed the post-market action in IBM’s earnings announcement, you missed a huge move that took so many traders by surprise. While this post will focus mainly on key lessons from the charts, it’s worth noting that trading around earnings increases risk, especially if a stock’s earnings differ greatly from what’s expected……
What’s going on with Crude Oil at the moment? Let’s take a look at the Daily Resistance Level along with a “step-inside” perspective from the intraday chart. Let’s start with the prevailing Daily Chart trend – it’s a downtrend as evidenced by the progressive series of lower price lows and lower price highs, which is…