Daily Commentary

Following-up on this morning’s intraday Breadth and Trending Stock Scan update, let’s take a quick look at the seven stocks pushing to new 52-week highs and the one lonely stock breaking to a new 52-week low on today’s bullish support bounce intraday session. The following stocks pushed to new 52-week highs today, as seen on…

While the broader US Stock Market rallies sharply off an inflection low today, the Sector Breadth performance sends caution signals despite broader bullish price action. Let’s see what’s going on under the market and identify our key trending stocks for today’s session. Despite across the board bullish price action where 90% of Dow Jones and…

With the broader market breaking a key support level this morning, let’s take a quick look at mid-day Sector Breadth and view the results of our Trending Stock Scan candidates. Here’s current Bearish/Breakdown Sector Breadth: We’re seeing another clear example of Bearish Breadth where the strongest sector is Utilities ($XLU) followed by Energy ($XLE). All…

With the US Equity Markets correcting lower against recent highs, let’s take a moment to update our short-term Fibonacci Retracement Reference levels and note something very interesting about how far the NASDAQ has fallen. We’ll start with the S&P 500 levels: The S&P 500 is stair-stepping lower, starting with the 38.2% Fibonacci Retracement level which…

We’re seeing another sharp rotation of money flow out of stocks as seen by price itself and the rotation into defensive sectors again. Let’s start with our mid-day Sector Breadth Grid to assess the damage (and opportunity): If we go back to intraday updates from “April 7th Collapsing Breadth” along with “April 4th Reversal Day,”…

Well that was a relief!  Price continued to rally up off the key support level and parallel trendline structure (see yesterday’s Triple Index Update for key reference levels) and we’re seeing a return to short-term bullish money flow. Let’s start with our current mid-day S&P 500 Sector Breadth Chart: Unlike yesterday’s clear bearish sector money…

With a sudden reversal off expected support in the S&P 500, let’s dig a little deeper and study sector breadth and update our potential trend-day trading stocks for the remainder of the session. We’ll start with S&P 500 Sector Breadth: While Utilities remain the #1 Sector so far, Energy trails closely behind. Unlike yesterday’s “Clear…

After a Bull Trap outcome sent equity prices back to the lower support boundary, let’s take a moment to update the key levels to watch in the US Equity Markets. We’ll start with the S&P 500 and will use the futures contracts for our reference levels: For simplicity, this post will focus on the key…