A standard mid-day check of market internals shows us a blatant negative divergence – this time with market internals turning negative as price clawed its way to a new swing high this morning. It’s a situation you certainly need to watch closely. Let’s take two perspectives of the SP500 Market Internals. First, the standard view:…
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…
If you went to sleep last night and checked the stock market futures, you probably thought that today would be yet another down-day. However, as you slept, the market staged an impressive turn-around to bring us to where we are right now mid-day Tuesday. It’s a fascinating reversal, and shows us the importance of watching…
Here is the most recent update of the Gann Prices and Andrews Pitchfork Tool post series on the S&P 500. You’ll probably find something interesting about yesterday’s bounce price. (Click for full-size image) The horizontal green trendlines are Gann Squares prices originating off the March 6 2009 low. Price peaked in April just above the…
Is it too early to write the obituary for the stock market? Today the S&P 500 closed under 1,040 – the major line in the sand between bulls and bears. Let’s take a quick look at this development and why this level is so important to monitor – we’re all watching it. The Break: ….
Over the last year, I’ve been updating charts comparing today’s market to the Crash/Recovery phase from the 1929/1930 period. In the most recent update, I showed a “Haunting Look at the 1930 Crash/Recovery Phase” and this post is an update of that “haunting” chart, but this time with a larger chart and a direct side-by-side…
In last night’s report, I highlighted the symmetrical triangle formation on the intraday charts for the S&P 500. Interestingly enough, this morning’s sell-off in the futures resulted in the triangle price projection target being hit before the market opened, in another example of the market hitting a price target overnight. Those are always interesting and…
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…