I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
If you’re trading WYNN stock or considering it – or just want to learn a neat real-time lesson as price breaks lower – then take a moment to view the current trend, charts, and levels. We’ll start with the broader picture trend on the Monthly Frame: Just based on monthly closing highs, the key simple…
Can this market actually go down? It seems like the answer is no – at least not for long. Buyers swooped in once again to thrust the market higher on the hint of a possible decline in the market, using the retracement as a knee-jerk reaction to buy. Let’s update our levels and highlight the…
Monday indeed was the end of the pullback and short-lived victory for the bears. Now, our strategies shift toward the “will the market break through to all-time highs or stall into resistance” logic. Let’s update our mid-day information and highlight our trending stock candidates for today’s session. The V-Spike Reversal occurred at the beginning of…
Yesterday seems to be all the pullback bears get. Buyers stepped back in as bears stepped out with another financially losing short-squeeze against them. For the set-up and now the real-time resolution, be sure to see yesterday’s post for key target levels to “plan the pullback.” Let’s update our mid-day information and highlight our trending…
Sometimes the simplest scans work better than complex methods, especially in a trending market like this. The thesis is “What is strong tends to get stronger” and these stocks may yet still deliver additional upside gains. Let’s highlight our “Top Trending” Dow 30 Stocks and note the sectors from which these names emerge. We’ll start…
And now for something completely expected – after multiple days in a row to the upside with persistent negative divergences, stocks pulled back from their overextended conditions. However, how far may stock prices fall and what levels are both potential downside targets and possible buy levels? Let’s update our charts and plan accordingly: Markets tend…
We can learn valuable lessons by studying classic examples of price action – in this case, a large divergence into snap-back reversal event (which stuns traders when they’re caught in the sharp sell-off). Let’s take a quick look at a recent clear example in Keurig Green Mountain Coffee Roasters (GMCR): The Daily Chart revealed a…
I had a question about Natural Gas this morning and found something interesting on the current chart – note the key levels and breakout opportunities that are setting up currently. Let’s see these levels and highlight the key targets and structure moving forward: The indicator-heavy chart above shows the trend, spike in bullish (buy) volume…
We continue to see “more of the same” action and the simplest play is to “go with it.” Yet so few traders actually do that it seems. Nevertheless, let’s update our mid-day information and highlight our trending stock candidates for today’s session. We’ll actually start with Sector Breadth which is MIXED BULLISH today: On today’s…
Best Buy (BBY) shares continued their uptrend with a breakout gap into “Open Air.” Let’s highlight this chart and plot a “pullback” or else surprise breakout plan. Here’s the Daily Chart: Best Buy (BBY) has charted three symmetrical bullish swings (blue lines) from the May 2014 lows. This time, we see an extension and bullish…