I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
India’s “Nifty 50” Stock Market Index recently bounced sharply from a critical weekly support level, but not before triggering a Bear Trap outcome beneath the support level. Let’s start with the Weekly Chart critical planning level and move to the Daily Chart for additional analysis and planning. From the weekly chart above, we can clearly…
As August winds to a close, let’s take a quick look at a key chart-based support or inflection level for shares of Google (GOOG) both on a Daily and Weekly planning chart. We’ll start with the Daily Chart which highlights the key inflection point best: After a “Cradle” Sell Trade into the cross-under of the…
It doesn’t take long for the cross-market landscape to react to a major news event, and that’s certainly what happened over the last few hours. Let’s take a quick end-of-day overview to assess what’s happened and where money’s flowing in the aftermath of escalating Middle East tension. We’ll start with the pure futures chart overview:…
In a follow-up to this morning’s “Planning the Daily and Weekly S&P 500 Chart,” let’s add a quick glance at the current state of ETF relative performance to highlight the two top and two bottom Sector ETFs in terms of performance. Here’s the broader picture chart (click to enlarge): The purpose of this chart is…
To get our week started, let’s take a quick overview of the Weekly Chart (showing no resistance) and the Daily Chart (showing a key level on which to focus) as we plan for potential outcomes for the week ahead. We’ll start with the picture on the Weekly Chart which shows bullish strength: First and foremost,…
In the trading and investment landscape, stocks that are initially strong tend to get stronger over time. GameStop (GME) shares continue to show a powerful example of this statement with today’s gap-up and breakout event. Let’s take a look at what brought us here and then study prior highs with structure on the Weekly Chart…
One of my favorite set-ups takes into account a visual intraday divergence into a known higher timeframe key support or inflection level. That’s what happened this morning – as I highlighted in yesterday’s planning post – and it has resulted in a stellar rally and great real-world educational example. Let’s step inside the market this…
If you follow Cross-Market analysis or Intermarket Analysis, you may have noticed a subtle shift or bend in current relationships in 2013. Let’s take a look at the recent shift, note what’s happened, and then peek at the broader picture of cross-market money flow in 2013. For a reference, we’re seeing the leading ETFs (Exchange…
After breaking under the rising 20 day EMA (as mentioned in the prior update), the SP500 traded quickly down toward the 1,655 support and indicator confluence. Let’s update the plan and see what the chart suggests to do at the new price inflection (planning) level. Here’s the Daily Chart so far: I wanted to use…
With the pre-market futures gapping lower under a key support level, let’s step back to see the picture of Market Internals behind the price action. Price has formed a sideways consolidation rectangle pattern between the 1,685 and 1,700 index levels along with a “Bull Trap” or failed breakout above the 1,700 key target. During August,…