I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Which top trending stocks – both bullish and bearish – are most extended from their rising (or falling) 200 day Simple Moving Average? Let’s use this simple yet effective stock scan to highlight eight trade-trending (or fading) candidates right now: This scan was created from FinViz.com’s Screener Tool focusing on the stocks most over and…
A quick “Quad Index” Grid shows us that the small-cap Russell 2000 is showing relative strength to the other major US Equity Indexes. Let’s take a moment to update our charts and highlight this situation and what it may mean going forward. I’m charting the futures contracts for the main index markets and we’re seeing…
Price action continued its bullish activity despite a morning retracement against the broader trend. Note the support/reversal level into 2,040. Let’s update our charts and highlight some strong trending stocks for potential candidates to trade: The trendlines converged into the key 2,040 level and we saw another Bullish V-Spike Reversal event thrust price back toward…
How do you trade run-away markets? Very carefully! Let’s chart the intraday stock market action and focus on a kindergarten-simple strategy that beats virtually all others when the market forms these sort of creeping-trend patterns. With the market overextended and negatively divergent into resistance, logic and most strategies suggested odds favored a retracement lower. However,…
Let’s take a quick fly-by overview of the international ETF landscape to reveal an interesting fact of the current environment. Here’s our quick 12-International ETF Comparison Chart: With the exception of Japan – which recently entered an official recession (by definition) – the other country ETFs trade far away from their 2014 peaks. Of course,…
I couldn’t resist the catchy headline to demonstrate the mini-Diamond Pattern forming in the S&P 500. Let’s take a look and chart a possible course for this developing pattern: Diamonds are relatively rare consolidation or contraction patterns that represent balance in price. At the moment, the “Balance Price” is the 2,036 level which reflects the…
Apple (AAPL) shares continue to enjoy their bull-run and new all-time highs, but what does the Monthly and Weekly chart suggest about additional upside action? Let’s take a broader “Triple Timeframe” chart view of this stellar stock and note a key price level target to watch – and plan. Here’s our Big Monthly Chart: Keep…
Wow – well that was certainly interesting. Stocks continued their short-squeezed march higher but stumbled on divergences and an intraday reversal shy of the 2,050 target. Let’s update our charts and highlight some strong trending stocks for potential candidates to trade: The trading range developed between the 2,040 level and the 2,035 support (with minor…
Crude Oil traders have found it impossible to call a bottom (reversal) in the sharp decline in Crude Oil prices. Admittedly I’ve fallen victim to trying to call that elusive bottom in this strong collapsing market but so far it’s not been the case that oil has bounced for anything but a small retracement against…
“And now, for something a little different.” Stocks have traded sideways into the 2,040 S&P 500 level and we can define a short-term range for our trade plans. Note this morning’s market update on the magic of the 2,040 level and how we’re planning around it. Here’s our updated levels as the S&P trades through…