Daily Commentary

Chipotle shares (CMG) are forming an “EMA Compression” trade set-up which is a specific type of breakout pattern. Let’s see the chart, note the trigger levels, and plan a strategy for those interested in this high-priced stock. A few things jump off the chart at us at first glance. First, there’s the price pivot point…

Following up from the prior “Pullback Planning Update,” let’s take a quick look at the broader S&P 500 and Dow Jones to note the logical pullback (retracement) toward the rising weekly targets. Let’s start with the S&P 500: Focus our attention on the price, upper Bollinger Band, and rising 20 week EMA (green). I highlighted…

Look out below!  Price broke support and collapsed in a liquidation event today where the selling has (so far) been relentless. We recorded perhaps our most bearish breadth chart since I’ve been keeping record of intraday sector breadth on the open blog. Let’s see the current S&P 500, note ultra-bearish breadth, and then highlight our…

Right on schedule, price rallied up from a known support target level and we have yet another Trend Day in motion. Start with this morning’s S&P 500 Support Bounce Rally post and let’s now take a look at our intraday update. Let’s jump into today’s update with an update on the S&P 500: Take a…

Despite the lengthy uptrend, the shorter-term S&P 500 has devolved into a sideways trading range with clear boundaries. Let’s take a look at these boundaries, chart the current rally, and plan the near-term future for the market. We’re using the @ES futures chart to highlight the recent trading range and the visual divergences that have…

Here we go again!  The market continued its slide lower – as was widely expected – and so far is creating another trend day lower. However, not all is bearish in the market, as seen from our intraday stock scan. Let’s jump into today’s update with an update on the S&P 500: I expanded more…

Netflix (NFLX) shares face an important turning point at a key support (pivot) level. Let’s plot this level – see why it’s important – and design a trading strategy around it. Focus on the rising 20 week EMA (price so far reversed up off this level): The rising 20 week EMA rests at the $440…

With all the attention focused on the iPhone 6 this weekend, traders may be missing an iTriangle Pattern forming on the stock chart of Apple (AAPL) shares. Let’s take a look at the Classic Chart pattern, note the boundaries, and trading tactics we may use as this pattern develops. Shares continue a strong bullish uptrend…

Well this is fun, isn’t it?  The market actually traded lower after many days of straight-up price action. It’s almost like the law of gravity actually applies again to the stock market! That being said, let’s take a look at our S&P 500 intraday chart, note a stunning signal from Breadth, and then chart our…

In simplest terms, a pullback or retracement is the most logical thing to expect for the US Stock Market at the moment. However, logical does not mean guaranteed. Let’s chart the S&P 500, Dow Jones, and NASDAQ to plan the possible pullback already underway: Stepping back in September, we saw a similar “overextended” rally into…