Apple (AAPL) investors rode a roller-coaster of news and stock price action last week, culminating in a massive sell-off in four days from the $215 area to the present $190 level. Let’s take a quick look at the Daily chart to highlight a key support level and then link to a video analysis by Adam Hewison who notes the “Bearish Engulfing Line” on the Monthly frame.
With a new week upon us, let’s take a quick look at the current picture of S&P 500 Market Internals as seen on the 30min multi-day frame.
The news is abuzz with the recent announcement by President Obama to increase regulation on large banks deemed ‘too big to fail’ and the broader financial sector and stock market is selling off… but there’s an overlooked silver lining that may emerge that investors and traders might be missing – what’s bad for big banks may very will benefit small, regional banks.
I’ve been saying that the 1,150 level is the next likely target once 1,121 was broken, and the market is struggling to overcome the 1,150 level currently.
Let’s take a look at an additional reason why 1,150 is an important barrier for the S&P 500.
For those who may have missed it, Boeing Stock (BA) broke to new recovery highs out of a rising wedge or ascending triangle pattern on the daily chart, sending prices higher in solid breakout mode.
Let’s take a look at the daily chart to see this breakout, as well as upper resistance levels to watch and lower support levels to guide traders.
I’m pleased to announce that Tim Bourquin has posted the full video of Tuesday’s webinar “Price Principles to Enhance Your Trading Edge in Any Market” at his TraderInterviews.com website. You may click on the image or the following link to view the presentation in its entirety without registration. Once at TraderInterviews.com, Click play (on the…
It’s time for another check-up on intraday market internals in the S&P 500! Market Internals – looking under the hood of the market – can help warn (foreshadow) turns in price in advance. As such, it is important to keep tabs on key market internals as an intraday trader, or even for a swing trader.
My contribution for today’s post at GreenFaucet’s “Technician’s Edge” column is entitled “A Look at the Daily Chart of The Two G’s: Google and Goldman.” In the post, I detail observations and levels to watch on the daily charts of technology giant Google (GOOG): and financial giant Goldman Sachs (GS): I explain how watching the…
Key Market Internal signals flashed negative divergences and non-confirmations of recent S&P 500 and SPY 2009 price highs, setting up the high probability for a reversal to the downside.
I wanted to highlight a chart I’ve been showing to members of the daily Idealized Trades Reports since Wednesday evening – we’re now seeing the downward action forecast by the plunge in Market Internals. Let’s take a look at the updated chart.
… and “Familiarity Breeds Contempt.” Let’s take a quick pure price look at the recent five overnight gaps in the SPY – S&P 500 during the oozing uptrend that is taking place in the holiday bullish seasonality in the US Equity Markets.