I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Of the 30 stocks in the Dow Jones Industrial Index, which 12 stand “head and shoulders” above the rest and continue to break through new 52-week highs? Let’s start with the “Strong 12” as seen on a performance chart from 2014 to July 1: The strongest trending stocks in the Dow Jones Index include American…
What support level must bond fund TLT hold or else trigger a breakdown/reversal event? Let’s start with the Daily Chart to highlight the structure and key level at play now: We’ll see the current trade level clearer on the hourly chart, but the first level to hold must be the current $111 price support level….
Like the rest of the market, Netflix shares (NFLX) continued their uptrend with a shattering of resistance into new all-time highs for July. Let’s start with the Daily Chart and note the breakout and updated levels to watch now: Note the divergent (momentum oscillator) reversal up off the $300 per share level in late April…
Last week I highlighted a “Tracking a Reversal and Breakout Opportunity for 3D Systems DDD” and this week, I wanted to provide an update as price moves through the Open Air pocket as expected toward the likely target. We’ll start with a quick recap of the Daily Chart and end with the Hourly Chart breakout…
Volatile stock MannKind (MNKD) crossed traders’ scans this morning with a breakout opportunity. Let’s take a look at the breakout set-up and note the key levels to watch for protection and profit: I highlighted three prior areas from the stocks’ journey higher in 2014 and you can compare the outcome. February resulted in a small…
Today’s session resulted in another sharp sell-off and “flag” style retracement for the S&P 500. Let’s again highlight the updated structure and pay close attention to the key levels in play: Notice the three yellow highlights I’ve drawn. The first was the sideways (rectangle) consolidation and the most recent highlights are “Bear Flag” style patterns….
The S&P 500 is retracing the losses from yesterday’s Morning Bull Trap and afternoon collapse toward 1,950. Price is rallying up off the 1,950 pivot and we’re watching the current 1,955 level. Let’s highlight the updated structure and pay close attention to the key levels in play: After yesterday’s sell-off, we’re seeing a push back…
Well that was exciting! The S&P 500 initially triggered the alternate breakout (above 1,964) thesis to continue a surprise short-squeeze toward 1,968. Divergences undercut the high and price began a logical retracement lower that morphed into a market collapse and reversal of the bullish price action. Let’s highlight the new structure and pay close attention…
A potential breakout buy (and short-term trend reversal) signal is developing in 3D Printing Stock 3D Systems (DDD). Let’s start with the Weekly Chart and focus our attention on the key price levels (and targets) to watch. The Weekly Chart shows a strong uptrend from 2012 until the January 2014 peak and sharp retracement back…
After yesterday’s Fed Day surprise breakout, the market is taking a break and consolidating after yet another stellar upside rally. Let’s highlight the structure and pay close attention to the key levels at the moment: Our clear level to watch is the current 1,960 support zone of the prior high and earlier session low (yellow…