Wow – what a turn-around intraday in gold prices! Buyers who purchased gold or the GLD ETF on the breakout to new highs in the morning session were cursed with a mid-day reversal that triggered a Bull Trap that created an ominous looking Bearish Engulfing Candle on the daily chart. Let’s take a moment to…
As of this moment, the NYSE intraday TICK is deeply compressing relative to the prior sessions, and to historical norms. Why is this important? Compression highlights “no activity” and “little opportunity” in the intraday market on the one hand, and on the other, it suggests that an expansionary move – a sharp rise in volatility…
I’ve written in the past about a simple screener tool that highlights the five most overextended stocks from their 200 day Simple Moving Average and how you can use the data in different ways. Let’s start with the 5 top overextended stocks as of March 21st and then see what strategies may be used: Courtesy…
If you’re an intraday user of the NYSE TICK – a powerful market internal – you must accommodate current market volatility into your trading decisions. If you don’t do so, you’re likely to get in trouble. Why? Let’s take another look at the NYSE TICK and how it changes over time depending on the volatility…
How has the TICK changed over the last 10-years? And is a reading of 1,000 as significant today as it was 5 or 10 years ago? These are questions you need to know if you’re using the TICK in any capacity in terms of absolute values (such as “fade the TICK intraday when it hits…
I wanted to share a quick lesson on locating a triple multi-day confluence support zone in the intraday SPY (and S&P 500) that helped shape Friday and now this morning’s trading tactics. Let’s see the Triple Confluence and how to put it to work for you in the future: While we can always see how…
Keeping with the simplicity theme, it’s often very informative to watch price as it interacts (tests) a critical “psychological” technical level – for example, $100 for Crude Oil. Let’s take a look at the current and past “power plays” crude oil has made at this key Bull/Bear Battle-Zone: Technical Analysis (charting) doesn’t have to be…
“How can you know in advance/in real time whether a breakout is real or a trap?” That’s a question I’m frequently asked at Expos/via email and it’s a very important question. While there’s no 100% method (I wish there were), knowing how to read market internals gives some of the best clues available – so…
Though the S&P 500 rallied this morning, internals declined which helped fuel a pullback/retracement into a key support level intraday. Let’s take a quick zoom-in on the Big Three Market Internals and the level to watch for intraday traders: It is absolutely essential that short-term – especially intraday – traders compare price swings with readings…
In my prior post about key inflection points on the three major US Stock Market Indexes, we saw quick, easy reference levels to watch, including 1,300 for the S&P 500. Let’s now take that a step further and check-up on intraday market internals which – as of this moment – are painting a bullish picture…