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 moment to update the current Sector Rotation chart to see which sectors may require our trading attention, and what the broader money flow suggests. Here’s the broader perspective of performance year-to-date: From StockCharts, we see the AMEX Sector SPDR ETFs with respect to absolute performance from January to present (mid-September 2012). We…
It may be helpful to spend some time this weekend studying which stocks and ETFs moved the most (higher and lower) after Thursday’s QE3 policy announcement. Let’s take a quick look at which major ETFs moved the most on the day QE3 was announced. Here’s a “Bubble Chart” from FinViz which emphasizes percentage movement of…
We’ve been anticipating a breakout in gold prices, and the last few weeks have delivered the likely upside break into the initial target. Let’s update the Daily and Weekly chart and note the key level that price may be breaking again to the upside. Here’s the bigger picture Weekly Update: On the Weekly Structure, price…
Which stocks in the S&P 500 are most over and under-extended from their 200 day Simple Moving Averages? And how might we use this information for potential upcoming trades? Let’s take a look at the new scan results at the end of August 2012 and find out. Here’s the Top 5 Stocks Most Over-Extended S&P…
There’s an interesting chart phenomenon I’ve covered in the past and the S&P 500 is currently repeating the pattern. Let’s take a look at the updated Sigma Band (Bollinger Band) chart for the S&P 500 and take a look at two recent examples of a similar pattern to monitor. Here’s the current S&P 500: What…
If the bulls were any stronger, we’d be seeing a straight up rally in the market! Let’s take a quick morning look at the interesting situation in SP500 Market Internals as price continues to defy expectations at the highs. S&P 500 30-min intraday perspective: We’re focusing on two Market Internals Indicators: NYSE Breadth and VOLD…
If you are a swing trader, it can be helpful to drop to the intraday or lower frames to assess the current structure and indicator combinations to plan your next plays. Of course, intraday traders will be keenly aware of the indicator signals and key levels, but it can help to put your market in…
Let’s take a moment to update the long-term and short-term Fibonacci Retracement grids for the S&P 500, taking note of which levels are in play at the moment. For that, let’s start with the larger Weekly Chart perspective: These levels are the dominant Fibonacci Retracement Levels against the 2007 Bear Market decline. I highlighted regions…
From a chart perspective, the big news is that the main US Equity Indexes continue to trade within the clear trendline boundaries of a parallel trendline channel. Let’s take a quick look at the new boundaries and structural levels to watch after another successful week in the pattern. First, the S&P 500 Daily Chart: As…
We’ve been following the long-term Support Shelf in Gold near $1,550 along with the declining “triangle” trendline, awaiting the possibility for a breakout in gold prices. What started as an initial triangle break seems to have stalled at the first resistance target, so let’s update the charts on Gold and highlight the key area on…