Daily Commentary

For those aggressive traders who enjoy fading strength – or calling potential turning points in price – Exelon (EXC) offers a potential “inflection against resistance” opportunity. Let’s study this aggressive set-up and note the key parameters that will make-or-break a reversal play. First I came across this stock from a stock screen I run which…

With today’s Flat Range Day in motion so far, let’s take a look at our updated S&P 500 Sector Breadth and highlight which stocks are potential trend day trading (continuation) candidates. By reader request, I’ll start adding a flash-chart of the intraday S&P 500 to provide a sense of structure and key levels to watch…

With price breaking through resistance and defying divergences, let’s take a look at Sector Breadth (what’s strong, what’s weak) along with the top trending stocks of the day. We’ll start as usual with Sector Breadth: There’s a big push-pull situation where Bullish Days show strength in the Offensive/Risk-On Sectors such as Financials, Discretionary/Retail, Tech, Materials…

Could we be caught in the Twilight Zone again and doomed to repeat the same outcome in the market? Let’s take a look at our broader S&P 500 chart and highlight a repeat bullish outcome pattern and chart where we are and how far we have to go at the moment to repeat it again….

What message are the Big Three Market Internals sending us as we challenge an upper ‘boundary’ or reference level of our ongoing S&P 500 Rectangle? Let’s take a look – the message is clear but the outcome is never guaranteed: As is always the case, we monitor Market Internals with price, particularly comparing price highs…

Biogen (BIIB) is setting up an inflection or “Pivot Trade” that we can study as it unfolds in real time in the week(s) ahead. Let’s take a look at the set-up and plan the targets from a movement away from the current “make or break” pivot. Here’s the Daily Chart and key level: I crave…

What a difference a day makes! In yesterday’s mid-day update, I highlighted a broader bullish signal from breadth, namely from weakness in utilities and strength in all other sectors.  The suggestion was that price would likely continue higher. With today’s session another gap-up and trend event (so far), we saw that signal fulfilled; however, on…

Sometimes the simplest things are effective for finding candidates to trade on a short-term or intraday basis. For example, if you want to identify strong stocks that are likely uptrending – and may continue to do so – scan for stocks bursting to new 52-week highs in an uptrending market (particularly in strong sectors). Let’s…

We finally have broad bullish sector breadth for today’s bullish bounce session. Let’s take a look at S&P 500 Sector Breadth and the current trending stock candidates: In the previous bullish bounce sessions, we’ve seen “caution” signs coming from sector strength in Utilities and Energy. This time, we see broad bullish breadth where Industrials ($XLI)…

April 15th brings a lunar eclipse (blood moon) and “tax day.” Putting those things behind us, let’s take a look at our intraday update for S&P 500 Sector Breadth and identify which stocks may provide trend day trading candidates in the event we see a similar session to yesterday’s trading day. For yesterday’s update, I…