AutoZone (AZO) is a stock I’ve been watching – and amazed by – for a while, mainly because it just doesn’t seem capable of a full trend reversal! Let’s take a look at the strongly trending price action from 2010 to present, and note the change in “angular momentum” or “angles of ascension” (trendlines) and…
Mid-October gave us back-to-back examples of one of my favorite patterns and trade set-ups – that of the intraday trend reversal on clear positive dual divergences. We’ll be using the @ES Futures as our proxy, but this example extends to any index futures contract or related ETF (including the leveraged funds). Let’s take a moment…
Wow – if you missed the post-market action in IBM’s earnings announcement, you missed a huge move that took so many traders by surprise. While this post will focus mainly on key lessons from the charts, it’s worth noting that trading around earnings increases risk, especially if a stock’s earnings differ greatly from what’s expected……
Previously, I explained what a “Creeper Trend” is, how it develops, and – if you’re willing to feel uncomfortable – how to trade it (it’s not your typical trade set-up). I wanted to follow-up that lesson with a great example of a “Creeper Trend” formation (trade entry), Trend Reversal (with excellent positive momentum divergence example),…
Many traders report difficulty in trading “Creeper Trends” or “Oozing Trends” that neither give reversal signals nor safe entry signals. Let’s take a quick look at the @ES (S&P 500) and @CL (Crude Oil) Futures contracts to see the overnight action that provided the framework for today’s continued “creeper” intraday trend moves on September 27th….
If you were paying attention to the deteriorating economic headlines, you might not have noticed a bright spot among the bearish headlines. Apple (AAPL) shares broke this week to new lifetime highs after giving a “triangle” breakout buy signal on the Daily Chart with a supportive structure from the higher timeframes. Let’s take a look…
What are Market Internals revealing about the current position of the S&P 500? Let’s take a look at the current structure and make note of prior reversals via Market Internal Divergences: Let’s take the somewhat busy chart step-by-step for clarification. What we’re seeing is the 15-min S&P 500 Index with two different Market Internal gauges:…
In general, crude oil prices are closely following stock prices, including the recent rally into confluence resistance. Let’s chart that key resistance level to watch on the daily chart in Crude Oil: Let’s start with the current structure and then take a moment to learn a few charting lessons from similar set-ups in the last…
Sometimes, it’s very important to strip your chart of all indicators and just focus on the message from price, which comes through clearest without all the clutter. There’s a very clear message from price itself in terms of range/value reference areas, so let’s listen to what price says and how we should treat these key…
What tends to happen when gold forms an intraday “Three Push” price pattern on multiple-swing negative divergences into an overhead “Round Number” price resistance level? Let’s take a look at another excellent example of this important trading concept/set-up that triggered successfully at $1,800 on August 11th and just recently on August 22nd: Take a moment…