I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
I wanted to do a quick update on the current support/inflection level on the S&P 500 which could set the stage for the rest of the trading week. Let’s look at the Daily “EMA Confluence” level along with the hourly intraday rising trendline pattern. In simplest terms, the key level we’re monitoring is the 1,410…
As we prepare to react to Wednesday’s Fed Day Announcement and Chairman Bernanke press conference, let’s take a look at Tuesday’s breakout, the prior compression in Market Internals, and what levels are important going forward. We’ll start with the 30-min intraday chart of the S&P 500 with Breadth (Advancers minus Decliners) and VOLD (Volume Difference…
December 4th’s intraday trading session provided an intraday reversal opportunity and I wanted to take a moment to review the main lessons in anticipating – in real time – and then trading an intraday stock market reversal. Let’s review the steps a market tends to take prior to an intraday reversal and then highlight the…
Today’s trading session began with some very interesting – and conflicting – information from the Intermarket perspective. Let’s take a look at today’s closing data and put that in context of the shorter term trends in Stocks, Gold, Oil, and the US Dollar Index. In general terms, we group each major market into “Risk-On” (offensive)…
There’s an interesting level we should be watching on the S&P 500, NASDAQ, and Russell Indexes but the Dow Jones hasn’t cleared above it yet. Let’s look at these main equity indexes as they struggle to stay above the 50 day EMA – we’ll also be on guard for a “repeat scenario” from June. Here’s…
I’m a big fan of observing EMA Compression set-ups on the charts and Apple (AAPL) is forming a clean pattern on the daily chart that may be worth your attention. Let’s take a look at the daily chart key levels – and EMAs – to watch and then study the recent arc pattern and intraday…
As we transition to December soon, let’s take a look at the critical level to monitor in the S&P 500 to determine our trading strategies as December approaches. Here’s the top-level Daily Chart with key level highlighted: Cutting straight to the point, the Key Inflection Level is 1,410 which reflects the confluence of the following:…
Previously on the blog, I provided monthly statistics for gaps (fades and unfilled gaps) and I wanted to return to that quick research on monthly gap statistics. Here are the Gap Numbers – filled and unfilled – for October 2012: Using Excel from Yahoo Finance data for the SPY, we see that the month of…
As you’re probably aware, the Thanksgiving holiday week tends to be a bullish week and Monday’s price action may be setting the stage for continued bullishness. Let’s take a quick look at the S&P 500 “Big Three” Market Internals and note the recent powerful divergence that set the stage for Monday’s big rally. Here’s the…
Let’s take a look at the most recent scan for the top stocks most over and under extended from their respective 200d SMA to get a sense of potential trading opportunities. Depending on your style of trading, you can use these scans for aggressive “fade/reversal” opportunities or pro-trend retracement style strategies. Here are the stocks…