I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
As we update the current picture of the S&P 500, we find that not much has changed from last week’s mid-week update, at least in terms of the “Bear Flag” Trendline Boundaries. Let’s take a quick look at the current SPX price pattern boundaries and how to develop a game-plan. Refer to the previous “July…
We’re hearing much talk about the potential Bear Flag pattern on the S&P 500 Daily Chart. Let’s take a mid-week update on the pattern and note the current key price boundary levels to watch for clues. First, here’s the S&P 500 Daily Chart trendline structure: Moving from right to left, we see the current “Bear…
The S&P 500 currently rests near a midpoint of the recent swing high and low, but there’s a key support level we’re watching for clues as to which level to target next. Let’s update the current S&P 500 near-term support and structure chart, starting with the Daily Frame: Keeping the chart as simple as possible,…
With half of 2012 behind us, let’s take a quick check of what the Sector Rotation Model is suggesting, both from a Year-to-Date perspective and from the 2012 peak so far. First, let’s update Sector Performance Year-to-Date: The Sector Rotation Model classifies the major sectors into two broader categories: Offensive or “Risk-On” Sectors (such as…
With Thursday developing into another big news day, let’s take a quick morning check on current daily resistance (or key) price levels and what to watch from here (upper and lower short-term targets) in the US Equity Markets. First, the S&P 500: Let’s discuss the current conditions which apply to all indexes. First, June gave…
I’ve been highlighting the trend of distribution volume in the SPY (S&P 500 ETF) since April, and that trend continues presently. Let’s take a quick update on what volume suggests about the health of the stock market: We continue to see phases of Distribution Volume as price rallies and retraces from May to present. To…
As June winds to a close, let’s take a quick look at the current Risk-On/Risk-Off trends within the Intermarket Landscape. Here’s the current Cross-Market Picture: For a quick review, the way we interpret the line chart above is to divide the broader markets into “Risk-On” or “Risk-Off” markets: “Risk-On” Markets include Stocks and Commodities (shown…
US Stock Market Indexes have rallied into the initial resistance level accordingly, and now appear poised to break through these levels with the favorable outcome in the Greek election over the weekend. Let’s take a quick glance at the current daily resistance levels that price could shatter this week on a push through a visible…
Monitoring Market Internals – particularly Breadth – tends to be very helpful for short-term traders to asses market strength or weakness, particularly during a mature rally or decline. Let’s take a look at the current state of Market Internals and how they have been effective for trading intraday trend reversals and breakthroughs. The simple price…
Following up from last week’s post on “Triple Stock Index Key Levels,” let’s take a quick mid-week update on what’s happened and what support levels continue to be key focal points in the “Big Three” US Stock Market Indexes. Let’s start with the S&P 500: The prior update focused on the 1,300 support bounce with…