I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Which stocks are trending in today’s “Jobs Day” mid-day update and what signal is Sector Breadth (money flow) sending? Let’s take a look, starting with the intraday S&P 500 reversal and key levels: After a better than expected jobs report and unexpected fall in the reported Unemployment Rate to 6.3% (consensus called for 6.3%), stocks…
It’s the day after the April 30th Federal Reserve announcement and the market continues its upward drift. Let’s take a mid-day moment to recap the current levels, sector breadth, and trending intraday stock candidates. Our S&P 500 intraday snapshot shows a clear rising trend – even rising parallel trendlines – which means we’ll likely continue…
Savvy traders know to treat “Fed Days” differently than normal trading sessions while new traders often get tripped up by the sudden volatility or instant shift in the rhythm of a trading session. Let’s take a quick look at today’s “Fed Day” action and segment the day into “Before Fed” and “After Fed” to note…
We’re all waiting eagerly for the announcement and volatile market action that often accompanies “Fed Day” sessions. With a few moments to go until the announcement, let’s frame the trading day, focus on key levels to watch in the aftermath, and note potential intraday trading candidates on this special occasion. I’ve been highlighting the broader…
What’s going on in the market and which trending stocks are calling our attention? Let’s jump straight ahead into today’s mid-day update as the trading range continues (so far): So far we see a Bullish Range Day session developing which is undercut by divergences in momentum and Market Internals. Logic would suggest a downside resolution…
As you know, I post a mid-day stock market breadth and trending stock scan each day. Today’s “intraday trend” scan returned some leading stocks which give interesting opportunities to play additional trend day continuation set-ups (such as retracements) in big-name stocks. Let’s jump right into our mid-day update and learn which stocks are our top…
With today triggering a “Bull Trap” reversal outcome (at least so far), let’s take a look at our mid-day S&P 500 and Sector Breadth Update. We’ll start with a chart of the mid-day S&P 500 and how we got to this point: First, be sure to brush up on this morning’s update regarding the broader…
Bank of America (BAC) shares are challenging a critical “Make or Break” rising trendline boundary which will trigger a short-sale bias if price trades beneath the level. Otherwise, if the rising trendline channel holds, shares could resume a primary uptrend. Even if you don’t trade this stock, it will be important to note whether buyers…
For intraday and short-term traders in the market, it’s important to develop a framework of key levels on the S&P 500. We’ve seen a clear sideways rectangle pattern develop with clearly defined boundaries (support and resistance) as price alternates within this range. Let’s update our range (which is unchanged) and note three painful Bull Traps…
We’re seeing a bullish but consolidating session after yesterday’s bearish range session. Let’s update our mid-day charts, note the message from Sector Breadth, and highlight the trending stock candidates of the day. A quick glance at our S&P 500 intraday chart shows another range day – a bullish range day but nonetheless another compression day…