I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
The tech-heavy NASDAQ index has been underperforming the S&P 500 and Dow Jones (both shy of all-time highs), but the NASDAQ may be showing signs of bullish life. Let’s take a look at a breakout that slammed into the first resistance target, and what levels to watch should buyers extend the breakout beyond the current…
Today’s action saw a continuation rally off the 1,870 support and reversal play from yesterday’s session. Let’s take a look at the current intraday levels, Sector Breadth, and potential Trend Day Continuation stocks: For intraday traders, we note the upper resistance target into the 1,885/1,886 level as our key reference point. Beyond that, we’ll reference…
What is the main chart pattern – and key levels – to monitor (and plan trades) on the S&P 500 and Dow Jones charts? Let’s take a look at the dominant range trendlines which provide a clear roadmap for planning the short-term future. We’ll start with the S&P 500: We’ll just focus our attention here…
Wow – with the market reversing down against resistance (creating a Trend Day by mid-day), let’s take a quick moment to see what’s happened, what levels are important, and which stocks are trend day candidates. The S&P 500 stalled into the 1,886 level which was yesterday’s ceiling/resistance high. The lengthy negative momentum and TICK/Internal Divergence…
Like many other similar stocks today, Netflix (NFLX) generated a potential breakout buy signal on a shattering of overhead resistance. Let’s focus our attention on a near-term upside target along with an Open Air breakout pathway should the next higher target also fail to hold the onslaught of recent buying pressure. Here’s a simple planning…
It’s mid-day and we’re currently trending higher on strong sector breadth. Let’s update our current intraday chart, study the message of breadth, and highlight trend day trading candidates for May 19. The S&P 500 continued an intraday trend reversal into an uptrend off the 1,870 reference level. After a mini-gap down, price broke to new…
With Apple breaking above the $600 per share level this morning, let’s take a look at this new bullish development and plan potential targets should the breakout continue higher. We’ll start with a quick glimpse of the breakout currently in motion: Apple shares broke a falling trendline or triangle pattern above $530 per share which…
A bull trap outcome collapsed the market down away from 1,900 toward lower targets as seen on our S&P 500 indtraday chart. Let’s take a look at the reversal and key levels to watch intraday – and which stocks are potential trend day trading candidates. The downside reversal – with plenty of divergences – from…
We’re seeing a logical retracement down from the recent breakout above the 1,900 level in the S&P 500. What’s going on beneath the scenes from breadth and which stocks are potential trend day trading candidates? Let’s start with our S&P 500 intraday chart: We’re seeing another consolidation or triangle action in the S&P 500 chart…
File this under “I didn’t expect that!” – Treasury prices continue their recent rally and broke powerfully to new highs at roughly the same time the US Stock Market surged higher beyond resistance. The implication is that “something’s gotta give,” so let’s look at the situation and try to figure out what’s likely to happen…