I wanted to document what the TICK had to say about today’s sharp reversal and lunch-time market drop. The TICK gave a classic “One-Two” Punch Warning Signal… and if you missed the signal, take a moment to look at the chart of the SPY and TICK and learn what the TICK had to say and…
Exxon-Mobile (XOM) has been one of the strongest performers in the Dow Jones index lately, and the rise correlates in part to the QE2 stimulus effects, giving us a great lesson in both charting breakouts and “stock-specific” narratives, or even broader market narratives. Let’s start with the monthly chart and then drill down to the…
I always like doing “Step-Inside” analysis with trades and price structure, especially when combined with a known reference level on the higher timeframes. Let me walk you through a very good recent example of setting up and trading two specific high-probability, low-risk opportunities in the UUP – US Dollar Index EFT (lesson would be the…
I think it’s important to document interesting examples of trading concepts played out during the day, as it serves both as an educational reference and deepens our knowledge about these concepts, which helps us to trade better the next time a similar set-up or opportunity unfolds in real time. A great educational example – and…
Wow – you don’t see these sort of “Mirror Image” patterns that often, but they are stellar when they set-up and complete. Let’s learn some quick lessons you can apply to the future from the recent intraday 30-min Head and Shoulders price pattern reversal – with perfect divergences – and the trade that accompanied the…
Goldman Sachs has been a wild ride for both investors and traders this year, despite being a leading financial company. As per usual practice, the chart gives us excellent examples of trading tactics we can use as a reference for the future. Let’s take a look specifically at Two Divergences and the resulting Two Breakouts…
Netflix (NFLX) has been showing up frequently on many trading radars, and for good reason – the stock has doubled from $100 to $200 from August to December, and it did so within a stable uptrending structure that allowed for low-risk entries – either from a retracement standpoint or a breakout move – into the…
Were there chart signals the market gave ahead of the afternoon reversal and breakout into the close after the morning Jobs Report drop? Absolutely – it turns out there were at least four early signs that odds had shifted away from the bears and towards the bulls which was confirmed with the afternoon breakout. I…
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…
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…