Picking up on yesterday’s theme of “Higher Timeframe Perspectives,” let’s take a look at the larger structure of silver and learn a few lessons in commodity price breakouts which can travel higher than many traders think they can. Let’s start with the big monthly frame of Silver Prices: Keep in mind that silver prices are…
It seems all traders seek to answer the same question: “When is this market likely to reverse?” Newer traders tend to love “reversal” style strategies, wanting to enter as close as possible to a trend reversal in order to have the tightest stop and biggest target possible. While no strategy can call a top or…
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…
I’ve been watching this level for a few days now and so far, a critical daily triple-confluence support level in Google (GOOG) is holding on cue. Let’s take a quick look at this level and the implications if the level holds… or cracks. Unlike the broader market, Google has not participated in a seemingly non-stop…
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…
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…
“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…
Did you learn the lesson I showed this Wednesday entitled “Using TICK to Forecast Intraday Reversals?” If you didn’t, here’s yet another chance to learn the important lesson – as history repeated the set-up/pattern almost exactly today that formed on Wednesday. Let’s look at today’s chart as another example of this critical concept: Click for…