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 look at a Fibonacci Retracement Confluence Grid (chart) for the US Dollar Index and see what levels are critical support and potential future targets for the index. The chart above shows the US Dollar Index ($DXY) on the hourly chart with five Fibonacci Retracement grids stretching from the recent closing high…
I’ve often documented periods where the SP500 (and related indexes) trended steadily between the first and second “sigma band,” and we’re in another period of similar behavior. Let’s update the current S&P 500 and Dow Jones “Sigma Band” (standard deviation) chart and note what levels to watch for clues. The chart above shows the S&P…
With a week of ‘creeping trend’ behavior, what are key Market Internals revealing about yet another “new recovery” high made this morning? Let’s take a look at the message from recent and current market internals on the S&P 500: Starting with the past and moving to the present, I highlight (yellow) to periods where internals…
The S&P 500 continues to trade within a well-defined broadening triangle pattern while the Dow Jones broke above a key rectangle resistance pattern along with a smaller triangle pattern, according to market structure. Let’s view the Triangle Boundaries on the S&P 500 along with the updated ‘breakout impulse’ structure on the Dow Jones. The broader…
With the Dow Jones at new lifetime highs and the S&P 500 similarly breaking a resistance level to new recovery (but not all-time) highs, what does the snapshot of Market Internals reveal about the breakout? Let’s take a quick mid-day look on the message, starting with the 30-min view: Cutting straight to the point, BREADTH…
As we did with the recent update on Gold’s structure and key levels, let’s take a look at the current progression and price structure that’s developing in Crude Oil. As an educational bonus, we’ll review one of my favorite chart patterns that completed with a powerful outcome. First, the Hourly Intraday Structure Chart of Crude…
After a sharp rally up off the$1,550 initial target support level, gold broke today above the key $1,600 ’round number’ reference level. Let’s update the intraday structure charts of gold and make a note of the $1,600 breakout and what area draws our attention currently. First, the Hourly “Price Structure” Chart of Gold: Gold is…
For this month’s update of the “Top Five S&P 500 Stocks Most Extended from their 200 day SMA,” we have two very popular stock names on opposite sides of the scanning results. After a stellar reversal and strong rally, Netflix (NFLX) takes the top over-extended spot while Apple (AAPL) makes its debut in the top…
What happened today (February 20th) and what are Internals and Market (Price) Structure suggesting about the present and short-term future of the S&P 500? Let’s take a quick look at the sharp post-Federal Reserve minutes announcement and make sense of the current environment and key levels to be watching this week. First, a look at…
With the S&P 500 pushing to the 1,525 target – a new recovery high – what do Market Internals say about the health of the rally that price doesn’t reveal alone? Let’s pull back the hood of the market to assess an interesting pattern forming in Market Internals: The chart above shows the S&P 500…