I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
With traders focused on the S&P 500 at the round-number reference level of 1,300, let’s take a quick look at two competing classic price patterns that have formed into this critical level. Is the S&P 500 completing a short-term “Double Top” reversal pattern or an “Inverse Head and Shoulders” continuation pattern? Let’s look at these…
The S&P 500 is compressing between a shorter-term and broader consolidation pattern, so it could make for an interesting breakout resolution yet to come. Let’s take a look at the bigger picture of Market Structure and then zoom-in on the intraday structure to note key reference levels. First, the broader picture starting with 2011: To…
The fact that the S&P 500 “did nothing” in 2011 fails to take into account the performance of the individual sectors of the stock market, some of which returned as much as 15% in 2011. Let’s review Sector Performance in 2011, learn insights into the Sector Rotation Model, and see where capital flowed during the…
Will history repeat or will this time be different? That’s the famous question we’re all asking right now as Google shares break to new multi-year recovery highs not seen since late 2007. Let’s peek at the Weekly chart, note the key level to watch, and then compare that with what’s happening right now on the…
What a year it’s been! Unless there’s a major surprise in the next few days, the S&P 500 will end 2011 right where it began the year – at the 1,260 price region making this a stagnant year despite two big volatile periods. Let’s take a pre-end of year view of where the S&P 500’s…
Gold recently broke from its larger Symmetrical Triangle daily chart pattern, but the S&P 500 (Stock Market) hasn’t followed suit yet. Let’s update the current “Bigger Picture” Triangle Price Pattern, note key boundaries, and what to expect next. First, the S&P 500 standard Daily Chart: A Symmetrical Triangle Price Pattern – or any major consolidation/compression…
It’s understandable if you’ve forgotten about the bond market with all the activity centered on the stock market along with the recent multi-month sideways “rectangle” pattern in Bond Prices, but if you haven’t checked a recent leading Bond ETF chart, now might be a good time to do so. Let’s start with the popular 7-10…
Gold prices ejected downward from their Symmetrical Triangle bigger price pattern this week, resulting in a continuation breakdown move towards expected lower targets. Let’s take a look at the original “Symmetrical Triangle” prior update (ahead of the break) and now update what’s happened and where we are now, starting with the “Pure Price” pattern itself:…
How have market internals given us clues about the last two short-term stock market reversals, and what are they saying currently? Let’s check out the 30-min intraday S&P 500 Chart of Breadth-based Market Internals: What we’re seeing above (click for full image) is the S&P 500 with the NYSE Breadth and NYSE Volume Difference of…
Not to be outdone by the recent S&P 500 triangle pattern, Gold is forming a broader Symmetrical Triangle Consolidation Pattern that we’re following closely for any sign of a breakout from the converging trendlines. Let’s look at this situation from two perspectives, starting with the “pure price” intraday level: When discussing a Symmetrical Triangle, it’s…