I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
When studying price charts, it’s important to note historical ‘repeat’ patterns or echoes from the past, which is what we’re seeing right now in eBay shares. Let’s take a look at a prior lengthy “Box” pattern from 2011 along with the current “Rectangle Range:” Starting in 2011, eBay shares stalled into resistance at the $35.00…
I wanted to highlight two pro-trending stocks that continue to breakout and rank highly on technical (chart-based) relative strength stock scans. Gaming related stocks Electronic Arts (EA) and GameStop (both retail names) continue to see inflows of money into their stocks. Let’s take a quick look at these names and what this suggests about the…
What is a “Normal” monthly percentage performance for the SP500? Is the current performance for July normal or not normal? Is it totally unprecedented? I had a member ask a question along these lines and I thought it would be interesting to try to answer the question what is “normal” for the SP500. For that,…
Let’s update our ongoing stock scan of the uptrending stocks most overextended and downtrending stocks most under-extended stocks from their 200 day Simple Moving Average. This scan provides candidates to trade pro-trend retracement entries or alternatively, aggressive reversal or ‘fade’ candidates for those inclined to trade counter-trend movement. We’ll start with the Most Over-extended Stocks…
With the SP500 logically retracing lower from the 1,700 level, pay attention to the mid-day picture of Market Internals and the visual divergence that undercut the sell-off for the moment. Here’s the pure SP500 Breadth or Advancing Stocks minus Declining Stocks during the session: With the SP500 trading down intraday into the 1,680 level, a…
If you closely follow the day-to-day activities on the Intermarket Landscape, you probably saw Crude Oil diverge relative to the new highs in the SP500. If not, let’s take a look at the close connection that’s been strained temporarily with respect to price action over the last few sessions. Here’s the broader intraday picture: The…
Gold continued its downtrend but recently retraced to a key decision point in terms of short-term trading strategies. Let’s zoom-in on this level and note the corresponding targets on a bullish breakout or bearish downtrend continuation. First, the Daily Chart of GLD: For the moment, the critical planning level is the $130 per share quadruple…
Microsoft shares had been trading on a lengthy divergence ahead of last week’s down-gap action that locked in another Bull Trap at the Highs. Let’s take a look at the current Daily and Weekly Chart of Microsoft for key price levels to watch along with possible trading opportunities that arise from these levels. We’ll start…
With the SP500 recently closing up eight sessions in a row, let’s scan for the stocks in the SP500 that also showed the greatest number of consecutive daily and weekly chart closes to the upside to continue an uptrend in a bull market. These stocks may not otherwise show up on other types of scans…
With the SP500 closing at all-time highs, let’s take a look at Market Internals and plot two Price Pathways for trading either a breakout or retracement outcome into known and obvious resistance. We’ll start with the SP500 Daily Chart itself: The main idea for swing trade (or even intraday) planning is that the SP500 is…