I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
While consumer staples/defensive stocks may not be the most exciting names in the market, they can offer stable uptrends along with their stock dividends. Day traders won’t gravitate toward these stocks due to the low relative volatility, but swing traders and some investors may use them in their growing portfolios as stable, consistent plays. Let’s…
I’m a big fan of so-called “EMA Compression” patterns because they often set-up breakout opportunities from clear reference levels. Let’s take a look at the Daily Chart “EMA Compression” pattern in gold and what levels are important in the near future. The main idea here is to recognize the price compression or consolidation between the…
Netflix (NFLX) recently attracted trader and investor attention with the recent gap-up and reversal off its 2012 low, so let’s take a moment to view a key Fibonacci pivot level and assess the Rounded Arc Reversal pattern that brought the stock to its current point. As a bonus, let’s look at price levels that may…
We’re watching a key inflection level in Gold and I wanted to update the current chart landscape to show these levels along with the developing short-term structure. Let’s start with the Daily Chart and highlight the easy-reference levels: In simplest terms, the upside resistance barrier exists from $1,680 to $1,700 while the downside support level…
I wanted to show a quick chart that tracks the progression in terms of S&P 500 Market Structure moving from clear to unclear – from stability to instability. Let’s see what I mean starting with the 30-min intraday structure of the S&P 500: Market Structure give us a quick glance of the progression and strength…
As we turn the corner into 2013, there are four main AMEX Sector SPDR ETFs that have exceeded and trade well above their 2007 “Bull Market” high. Two ETFs are in the “Offensive” Sector while the other two are in the “Defensive” Sector, which makes an interesting situation. Let’s take a quick overview of these…
After some volatile action, Apple (AAPL) prices have settled within a short-term trading range or descending triangle pattern. Specifically, prices have bounced between a key support level and falling daily EMAs. Let’s update our current Apple charts and note these short-term levels along with the Weekly Chart Fibonacci and potential targets should Apple break free…
As we start 2013 with the news that the so-called “Fiscal Cliff” is solved (or at least averted), let’s turn our attention to the Dow Jones, S&P 500, and NASDAQ charts to note current uptrend structure and possible upside targets for a continuation of the rally. Let’s start with the bigger picture of the S&P…
I wanted to update the structure of the S&P 500 from last week’s “Rising Range Trading Tips” post and also focus on the key reference level as we close out the last week of 2012. Here’s the “Rising Range” Structure update: Last week’s post saw the S&P 500 into the 1,450 upper trendline and we…
The S&P 500 Index began trading in a Rising Range pattern as we turned the corner into December and so far has continued bouncing between the trendline boundaries of the pattern. Let’s take a moment to learn a key trading lesson from recognizing and trading this popular price pattern – the tip is to drop…