I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
An interesting event is taking place from the Intermarket or Cross-Market Money Flow perspective and it’s worth taking a closer look. For one, we’ve seen continued strength in US Stocks and relative weakness or short-term downtrends in the other main markets. Recently, we’ve seen a clear counter-trend movement as seen clearly on the 5-market chart…
For traders of Amazon.com (AMZN), this morning opened with a sharp downside gap and a powerful Trend Day down continued the selling pressure. Let’s update our Amazon (AMZN) charts and note the current level to watch from our prior “Level Watching and Swing Trade Planning” parameters. From my prior update on January 16th, I noted…
As January 2014 comes to a close, let’s update our “Sector Rotation” planning grid using the main 9 AMEX Sector SPDRs arranged by the Sector Rotation Model. We’ll start with a grid from TradeStation showing price and the 200 day SMA: We’ll take a look specifically at the Sector ETFs in the charts below, but…
I wanted to highlight another example of the “Timing Intraday Reversals with TICK Channels” concept which just triggered from yesterday’s low to today’s mid-day bearish reversal. For additional background on this important concept for intraday traders, see my prior update: “TICK Deterioration and Intraday Reversals” Here’s the current example and outcome using the @ES Futures:…
Facebook (FB) shares are currently “trapped” between a key level and traders may have a key opportunity depending on what happens here. Let’s take a look at Facebook’s (FB) current chart, note the key levels (targets and entries), and also create a Fibonacci Confluence grid. A quick, simplified glance at the Daily Chart reveals that…
Emerging Markets have been in the news lately with respect to a sharp sell-offs in country ETFs. Let’s take a broader picture view of the popular ETF symbol EEM – iShares Emerging Markets fund – and chart the key pattern at work on the higher frame. In TradeStation we can see the broader “Rectangle” Price…
As traders, we often look to simple support levels to form the core of short-term trading strategies. For example, we may look to play bullishly for a bounce off a key level, or else trigger a short-sale position on a breakdown under the same level. It’s a way to view price without bias, awaiting a…
As a follow-up to yesterday’s post “Respecting the Range While Awaiting a Breakout,” let’s take a look at how the range boundary came into play yesterday and more importantly, on the “expected” breakthrough of the range boundaries. Here’s a quick chart of the @ES S&P 500 e-mini futures for reference: From yesterday’s post, I referenced…
Short-term traders have been forced to “Respect the Range” behavior of the US stock market indexes as they challenge – or break – to new highs. Let’s update the current range boundaries (price levels) of the S&P 500, NASDAQ, and Dow Jones which will be helpful for additional trade planning. We’ll use the futures contracts…
One of the greatest challenges as a trader is to determine whether a trend in motion is likely to continue or reverse. Reversing a trend is a process, similar to reversing a freight train, and a stock tends to signal reversals we can see on a price chart. Let’s take a closer look at four…