I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
What should we be watching in today’s market breakout? Let’s start with our “Sector Breadth” Chart and follow-up with our intraday scan list of trending stocks: Perhaps not surprisingly, intraday Sector Breadth paints a very bullish picture at the moment. Our worst performing sector is the defensive Utilities space and the three strongest sectors include…
Amazon.com (AMZN) shares continued with follow-through from a breakout buy signal I highlighted last week. Let’s update our chart and highlight the new levels to watch after the breakout triggered: Start with last Friday’s AMZN post for additional background and to set the stage for today’s Breakout Follow-through. Today’s quick update shows the follow-through and…
Amazon.com is showing signs of life this morning with a range breakout into a key resistance area. Let’s update our Amazon (AMZN) chart planning levels and note what event could trigger a breakout trade. I like to keep the charts simple, so let’s focus our attention on the highlighted box (between the $322 and $338…
With price breaking under the rising parallel trendline channel, the expectation was for a logical continuation of the sell-off triggered by this morning’s gap. Buyers (bulls) had other plans (as usual). Let’s take a look at the current S&P 500 key levels and highlight our trending stocks of the day: See my prior updates this…
I wanted to update the simple “Color Price Structure” chart I’ve been showing all week with respect to the simple yet effective price planning pathway for the S&P 500. Let’s take a look at the current “Color Structure” chart and plan how to trade the current swing already in motion: To get a sense of…
Today continued the expected sell-swing already in motion and price achieved its downside target (see yesterday’s intraday update and level planning to recap the live analysis as it occurred now that we know the outcome). With price back into a support target level, let’s update our intraday charts and trending stock scan: The intraday target…
If you followed yesterday’s morning update, then you’ll find today’s market action is exactly what was suggested (a sharp downside swing) from the “Planning the Next Swing from Color Structure” chart I highlighted previously. Let’s update the market, note what happened (faster than expected) and plan the NEXT swing for price: Be sure to read…
What levels are we watching at the moment and which stocks are setting up as potential Trend Day candidates? Let’s start with our S&P 500 intraday level-watching chart: The S&P 500 traded down from just above the 1,980 level on TICK and momentum Divergences into the upper trendline of a rising pattern (see this morning’s…
Let’s start our week with a simple “Color Structure” Chart of the S&P 500 and use it to plan a price pathway for the week. We’ll start with the current intraday structure chart to set the stage: The color structure chart shows a sideways rectangle (early May) which is a consolidation pattern and then the…
During the recent non-stop bullish price rally, which stocks have closed the most days in a row to the upside? Let’s take a look at our updated stock scan results and spot two specific trading opportunities in the list. Using TradeStation’s Stock Screener tool, we find the following stocks have the most consecutive daily chart…