I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Despite a strong uptrend, Celgene (CELG) shares face a critical challenge at a make-or-break(down) support level from a potential Head and Shoulders Reversal pattern. Let’s take a look at the pattern, note the “neckline” support line, and plan contingencies for the short-term future. Here’s the Daily Chart with indicators and H&S Pattern Illustrated: Celgene (CELG)…
I’ve been covering the price breakout and impulsive trend move up for Caterpillar (CAT) shares. Recently, shares reached a key price target which gives us a chance to study a quick lesson and plan the next potential swing for this Dow Jones stock. Let’s start with the Triangle Pattern Target that has been achieved (and…
As we trade through St. Patrick’s Day, which stocks top the list of intraday uptrenders or downtrenders, and what is the pulse of the market at the moment? Let’s start with our intraday uptrending candidates: On today’s bullish reversal higher session, we draw our attention to Fastenal (FAST), First Soloar (FSLR), Tyco International (TYC), and…
We don’t see Utility Stocks gain as much media coverage or trader attention as high-flying names like Apple, Amazon, PLUG, or Google, but that doesn’t mean we should ignore this sector completely. Utilities have had a strong three day rally despite a broader sell-off in the stock market. In fact, when almost all stocks were…
On a sideways range day in the US Equity Market, we may be less interested in “Top Trending Intraday Stocks.” Keep in mind we achieved initial targets I set forth in March 11th’s “Pullback Pathway Planning” for the S&P 500 (initial downside action also developed as highlighted in our Goldman Sachs (GS) Resistance Retracement Planning…
Gold prices broke through a ceiling of resistance this morning into an Open Air pocket, generating an aggressive breakout buy opportunity for traders. Let’s chart the breakout and note new upside price targets that are now active as long as price remains above the breakout price. As I’ve been highlighting to members of the Weekly…
Which stocks call our attention as the top “Trend Day” trading candidates? Let’s start with our power uptrenders for the session: In today’s session, Whole Foods Market (WFM), General Mills (GIS), Marathon Petroleum (MPC) and Archer-Daniels-Midland (ADM) span our “Top Intraday Uptrending Stock” list for potential trend continuation into the close. For the downtrending candidates,…
As I highlighted this morning in the S&P 500 “Pullback Pathway Planning,” we’re seeing a similar situation develop in the EUR/USD FOREX pair. Let’s take a look at the Euro’s break to new highs and the potential pullback – or alternate breakout – strategy planning. Like the S&P 500, the Daily Chart reveals a pause…
What S&P 500 levels are we watching and what are we planning for the immediate trading strategies this week? Let’s start with the Daily Chart and plan a “Pullback Pathway” tempered with an “Alternate Breakout”Plan: As I continue to highlight in the Game-Planning Daily Membership, classical odds favor a pullback or retracement down against the…
What short-term message is TICK telegraphing about the current intraday S&P 500? Let’s take a look at divergent TICK Channels and reversals: With the recent intraday action, we see price trading down in a short-term falling rectangle pattern while TICK (highs and lows) trades up in an opposite or divergent rising rectangle pattern. Typically, these…