I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
After spending months consolidating with a “Rounded Reversal” basing pattern, Apple (AAPL) shares powerfully broke a critical resistance level which triggered an official trend reversal signal. Let’s view the chart from the top-down, starting with the Weekly Chart: In my prior August update for Apple (Apple Trades into Overlapping Resistance Target), I highlighted the confluence…
After triggering a retracement or bear flag trade recently, gold buyers rushed in to prevent the sell-off and continue the ongoing trading range in price. Let’s take a look at the sudden bullish reversal and note key ‘range’ or trendline levels to watch going forward. We’ll start with the Daily Perspective: Let’s start with the…
Here’s a quick update regarding the conflicting trendlines for the US Dollar Index along with a weekly trendline which may be standing in the way of a daily “Broadening Formation” pattern that’s been developing. Let’s take a look at these chart structures and the key levels to watch going forward. We’ll start with a quick…
The market reversed course with an initial Bull Trap event after a breakthrough above the known 1,700 key index target level. Let’s step inside the failed breakout, identify key factors that hinted at the reversal, and compare this outcome to recent Bull Traps. Here’s the intraday SP500 index chart with Internals: In general, a breakthrough…
After a stellar rally from the recent lows – and a ’rounded reversal pattern’ – Apple (AAPL) shares have achieved a confluence upside price target which now becomes the focal point of short-term trading strategies for the stock. Let’s take a look at what indicators overlap at the current levels and the game-plan created from…
With the recent breakout to all-time highs in the SP500, what message did Market Internals send and what are they revealing with today’s sharp reversal and initial Bull Trap? Let’s take a look and study the recent message from Market Internals: A quick glance of the “Big Three” Market Internals (broader NYSE Breadth, TICK, and…
This morning saw an initial breakout and powerful upside continuation for shares of BlackBerry (BBRY) which draws our attention this morning. Let’s take a quick chart-update for the stock and note the breakout and key levels to watch going forward. First, the broader Daily Chart (note the 20d EMA breakout): From a historical perspective (at…
Following up to this morning’s post on the US Market Breakout and Sector Strength/Weakness, I thought it would be instructive to take a look at broader global ETF money flow as well in terms of relative strength and weakness. As there’s more to view, let’s get straight to the charts: It’s a lot to view…
While the SP500 itself broke to all-time highs this morning, not all sectors participated in the breakout. Swing trading opportunities often come from focusing on strong stocks in strong sectors while avoiding weak stocks in weak sectors. Let’s take a quick glance at the Nine Sector SPDRs (ETFs) and note the relative strength to the…
Let’s take a moment to update the prior post “Trade Planning and Levels to Watch in Gold” with respect to the new price compression between daily moving averages, a key Fibonacci Level, and an active trendline all aligning at the same level. We’ll start with the broader Daily Chart: First, let’s focus on the price…