SPY Intraday Sept 25 Shows Triangle and Mega Divergence
I wanted to highlight two features or trades from today’s intraday market action – a Descending Triangle Support Break and a “Mega-Divergence” reversal opportunity.
Lessons From Failed Sell Signals and Popped Stops
I mentioned this concept in more detail in an earlier post entitled “What Happens when Resistance is Broken,” and a follow-up post entitled “Opportunities from Popped Stops Intraday,” in which I described the concept of “Popped Stops” leading to quick scalp trades long from the ‘pocket’ of tight stops that often exist just above key resistance levels.
Let’s take a look at the recent 60-min chart of the SPY and note three distinct and classic short-sell signals – all of which failed and led to a “stop-pop” rally… including what could be another one developing right now.
AIG Breakout Gives Good Example of Trading Triangles
For those of you who missed it, AIG had a large breakout from a short-term symmetrical triangle which led to a sudden achieving of the ‘measuring objective’ or price projection target. Let’s take a look at this triangle, as it serves as a great example of the “price consolidation and expansion” principle, as well as a near perfect ascending triangle trade set-up.
September 17 Intraday SPY Recap
I thought there were many opportunities to trade and learn from the price moves of today’s intraday action in the SPY (and broader markets). Let’s take a quick look: First, the 5-min chart: Without describing the whole day, I wanted to call your attention to the intraday reversal that took place at 12:30 CST in…
A Look at the 1929, 1938, and Current Recoveries
With the current Dow Jones Index up 52% from the March 2009 lows, let’s compare the current “Post-Crash” recovery rally to those of 1929 and 1937 to see of those periods can place our current rally into historical context.
A Look at End of Day Market Internals Sept 15
Earlier this afternoon, I posted a standard “Mid-Day Check of Market Internals” which suggested that market internals were giving an edge to the upside (for higher prices yet to come). Let’s take a look at the end of day internals to see how the Breadth and Volume Internals – along with the TICK – tracked price all day in the SPY.
Great Bear Flag SPY Example but No Time to Act
I wanted to highlight a strange conundrum that sometimes happens with classic technical analysis price patterns. Let’s take a look at a predicted “Bear Flag” pattern described on Friday that hit its target immediately upon this morning’s market open.
Opportunities from Popped Stops Intraday
In following up on a prior post entitled “What Happens when Key Resistance is Broken?” – I thought today’s intraday price activity gave us another excellent example of the “Stop-Pop” Technique and lessons on how to profit from pockets of known stop-losses being ripped from the market. Let’s look:
Sector Performance Insights from the July Lows
Let’s try to glean some insights from the “Sector Rotation” model as we look at both absolute and relative (to the S&P 500) AMEX Sector SPDR returns of the 9 major sector ETFs – paying special attention to the “Offensive” and “Defensive” Groups.
Midday Check of Market Internals Sep 9
As we head into the lunch hour on September 9th with a strong market rally underway, let’s take a look at the major market internals as viewed from custom screens in TradeStation: