I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
This time, buyers rushed to buy value at a test of the key 1,980 confluence level. Let’s update our levels and highlight the strongest trending stocks to trade for the moment: Yesterday had us focus on the 2,000 index level and today we’re seeing a strong rally (at least initially) up from the 1,980 higher…
Arc Trendline Patterns are among my favorite things to see on a chart because of the simple pattern and the large reversal that can occur once price breaks free of this “exponential” event. Crude Oil is forming an “Arc Trendline” pattern as it collapses rapidly, so be sure to watch this pattern and how price…
After what looked like a positive opening, stocks continued their sell-swing lower, breaking the 2,000 support level. A bullish divergence and V-Spike Reversal took price back to – then under – 2,000 which will be our focal point for the day. Let’s update our levels and highlight the strongest trending stocks to trade for the…
Right on cue, and directly from the key confluence level I highlighted yesterday, the bulls intervened to thrust this market higher again with a sharp retracement swing higher. Should we have expected anything different? Let’s update our levels and highlight the strongest trending stocks to trade for the moment: Buyers rushed to prevent the ongoing…
The S&P 500 has retraced quickly to a known support target and we’ll focus on this current confluence level with great interest. Let’s highlight this level and plan a pathway if buyers fail to intervene here as they’ve done in the past (on the weekly chart). A simple plan would have us focus on the…
After a stellar intraday reversal yesterday, sellers continued their pressure today with a breakdown Trend Day. Let’s update our levels and highlight the strongest trending stocks to trade for the moment: Our key focal point yesterday was the 2,035 level from which the V-Spike Reversal developed Price traded toward the 2,060 level and now has…
What broader price levels are important for trading (or planning trades in) Tesla? Let’s chart our broader Fibonacci Confluence Grid and find out where these levels overlap for targets and entries: The chart above shows how I constructed the Fibonacci Confluence Grids. For planning, be sure to view the tighter-zoomed chart below:
Even though we’re seeing the widely expected and highly logical pullback, buyers continue to show their strength with another intraday V-Spike Reversal. Let’s update our levels and highlight the strongest trending stocks to trade for the moment: The widely (negatively) divergent market couldn’t sustain the thin-air highs any longer and retraced sharply lower toward the…
A longer-term comparison reveals the current strongest sectors and weakest sector for trade and position planning. Let’s see these weekly charts and highlight key levels to watch for additional opportunities: Depending on how you measure relative strength, you’ll find that the Financial (XLF), Technology (XLK), Staples (XLP), and Health Care (XLV) sectors all show steady…
Can this market actually go down? No. It can’t. Absolutely not. A sell swing would be silly. I’m being sarcastic of course, though it doesn’t feel far from the truth! Buyers swooped in to thrust the market higher, building on yesterday’s two V-Spike intervention reversals. Let’s update our levels and highlight the strongest trending stocks…