I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Caterpillar (CAT) has been forming a longer term triangle or compression pattern as seen best on the Weekly Chart, but let’s take a look at a Daily Chart Bull Trap and return within the larger pattern boundaries. For traders, the stock may continue to set up range-based fading trades or an eventual breakout opportunity from…
When playing a breakout trading opportunity, a trader must be aware of the possibility of a “Kiss” outcome where price retraces directly back to the trendline only to continue the breakout. There’s a couple of trading lessons we can learn from Gold’s recent “Breakout and Kiss” Outcome, so let’s take a look at what insights…
True to expectation, an outcome of “No Taper” from the Federal Reserve sent the US Dollar Index breaking a critical support level on the charts. Let’s take a look at the Daily Breakdown into a Weekly Support level that must hold now, or else risk a further collapse from a broader chart pattern. We’ll start…
We like to study money flow from a cross-market standpoint to pinpoint where money is entering and where money is leaving. Often, large events such as the Federal Reserve policy announcement – no taper (QE3 continues without changes) – is a catalyst for rapid money flow shifts across all markets simultaneously. Let’s review the instant…
It’s time to update our “Most Over and Under-Extended Stock Scans” for the month of September! Let’s start our search with the top six stocks most over-extended (on a percentage basis) up away from their rising 200 day Simple Moving Averages: It’s often interesting how a strong stock (or weak stock) can remain in the…
With the break to new recovery highs today in Yahoo (YHOO) shares after a stellar recovery, we focus our attention on the “will it or won’t it” continue the breakout or else pull-back once again with a trap. Let’s take a look at the Daily Chart “Make or Break” key level and put this in…
Gold is forming a rising parallel trendline channel or “flag” pattern that should call our attention. Let’s start with a pure price viewpoint of this pattern along with the broader picture for planning. There’s different names for the current pattern including “AB=CD” Measured Move, Rising Parallel Trendline Pattern, and broader “Bear Flag.” Either way, this…
In an update to August 26th “Weekly/Daily Planning for the SP500” post, we’ll take a look at today’s initial upside breakout and buy-signal trigger for the Daily SP500. We’ll need to watch this initial breakout into the close and whether the market can hold above the key level through the rest of the week. We’ll…
Even if you don’t trade Netflix (NFLX), you’ll probably find it interesting that shares are challenging all-time highs into the impressive $300 per share level from 2011. Let’s take a quick overview of the “Battle to Break $300” in spite of the Divergences and Bearish Rising Wedge Pattern in motion currently. Here’s a Weekly View…
With the recent breakout and short-term bullish trend reversal, Apple (AAPL) shares have continued higher to close above the 200 day SMA. Let’s focus on a key price level and potential bull flag or retracement set-up that’s developing at the moment. A quick glance at the chart shows the critical support ‘polarity’ level into $480…