I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Technical traders across the world are monitoring current US Equity Indexes as they interact with the “Zone of Resistance” from their prior 2011 price highs. Let’s take a quick check-up on where the “Big Three” markets stand at the moment in relation to “The Zone.” First, the S&P 500 which hasn’t quite cleared the Resistance…
Silver (and its popular ETF SLV) face a major resistance barrier overhead which should be watched closely. Let’s update the current Daily Chart of Silver and SLV to note this key price level to watch as a reference. Let’s focus most of our attention on the overhead resistance cluster at the $35.00 per ounce level….
With US Equity Indexes challenging and breaking to new recovery highs, it can be helpful to take a moment to raise your perspective to the monthly chart frame. Let’s take a quick look at the monthly index charts, starting with the S&P 500: The S&P 500 lags the Dow and NASDAQ at the moment, as…
This morning’s better than expected Jobs Report sent US Equity Indexes into or above key target areas that – if the momentum continues as it appears currently – will break price into New Recovery High territory which you’ll want to monitor closely. Let’s take a look at the S&P 500, Dow Jones, and NASDAQ to…
Both the Dow Jones and S&P 500 face price challenges at critical levels currently, particularly that of the rising 20d EMA. Let’s take a look at these levels to watch and perhaps develop trades on any breakout from these levels. First, the simple S&P 500 Daily Chart: Removing all other factors, the Daily S&P 500…
One of the main activities that trip up traders, especially new traders, is the concept of continual price movement in one direction without meaningful pullbacks – also known as “powerful trends,” “creeper trends,” or “positive feedback loops.” Let’s take a look at the current situation and put it in the context of prior S&P 500…
Amazon’s (AMZN) chart structure is creating an interesting breaking point of tension between the higher and lower timeframes. While the daily chart argues for potential reversal higher, the weekly chart shows a barrier of overhead resistance that must be broken before a reversal higher can take place. It’s a good example of how to incorporate…
Following up with my prior inter-market post this week “Something’s Gotta Give,” let’s take a look at the sharp down-move that developed since then as seen in bond funds IEF and TLT. Let’s start with the 7 to 10-year Treasury Fund IEF: Quick analysis shows us a lengthy (mature) uptrend that is undercut by lengthy…
If you use Intermarket or Cross-Market Analysis in your trading or investment decisions, you’ve probably noticed something very strange over the last few months. Let’s take a look at “What’s Going Wrong” from a classic Intermarket perspective which leads us to “What’s Gotta Give” in terms of a building reversal. First, the closer perspective of…
Dual intraday divergences can be very helpful in pinpointing short-term turns (reversal) in price which create ideal low-risk, high probability trade set-ups for the intraday index futures or ETF trader. Let’s highlight a good example reference from today’s action on January 13th using the @ES Futures contract as our proxy. Click for full-size image. Without…