I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Let’s take a quick check of our ongoing view of Market Structure, which we last updated in our April 10 “Interesting Breakout Structure” update. We can now see the resolution of the “interesting” situation that developed recently. We’ll start with the @ES Futures (SP500 Index): In the prior update, we viewed the market pushing into…
Apple (AAPL) stock has returned to a key support inflection level and we once again see an IF/THEN situation where the short-term downtrend will either reverse at the inflection point or else break again lower, creating a breakdown opportunity. Let’s focus on this key inflection level, a situation that we saw not too long ago…
With the recent collapse (lack of liquidity/buying pressure) under longer term support levels in gold and silver, let’s take a moment to step back and view historical “Volatility Pockets” in price and what this may mean for the current “pocket.” Let’s start with Gold: The Daily Chart above shows two range or volatility indicators: The…
With the Dow Jones and SP500 both breaking – and closing – at record all time highs, let’s take a quick look at intraday structure, trendlines, and factors to watch going forward. We’ll start with the SP500 (@ES Futures) which generated more headlines today than yet another record close in the Dow Jones Index: You’ve…
As April 2013 began, we saw positive reversals and breakthroughs in “Risk-off” US Treasury funds TLT and IEF. Let’s update these charts and note key levels and factors to watch for the rest of the month. TLT is the iShares 20+ year bond fund that is tradable as an ETF. We see the critical support…
This morning brought a continuation of the short-term downtrends for Gold and Silver as price collapsed toward a critical target zone which now calls our attention. Let’s take a quick, simple look at the current structure and critical levels to watch for these markets at the moment. Gold Daily Chart: The key focal point is…
As we start April near all-time highs in the SP500, let’s take a quick look at pure price structure on three intraday frames and note key developments and levels in focus as a new month begins. First, let’s view the larger short-term structure from the 30-min chart: In simplest terms, structure refers to the progression…
As we end March and the first quarter 2013, let’s take a look at a simple reference chart of how volatility – in terms of intraday range and opening gaps – has cycled over the last few years while highlighting what the current conditions reveal about volatility. Let’s take a look first at the SPY…
A quick intraday glance at the US Equity Indexes reveals a sideways consolidation pattern with clear range boundaries that form the structure for short-term traders. Let’s take a look at the Dow Jones, SP500, and NASDAQ Indexes to highlight these patterns and whether the market may break through these levels in the near future. First,…
For short-term traders, Google (GOOG) is forming an interesting compression triangle pattern that may warrant our attention. Let’s start with the Daily Chart, note the key levels with structure, and then zoom into the lower frame charts to highlight a price compression triangle at work. Starting with the structure, Google (GOOG) remains so far in…