I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Google shares (GOOG) have fallen to a critical “make or break” price support level as seen both on the weekly and daily chart. Let’s take a look at the two-timeframe action and see what the current chart says about potential opportunities. Google (GOOG) Weekly: Cutting right to the chase, the flat 200 week Simple Moving…
While scanning the major Sector ETFs, a shelf of support (pattern) in the Energy ETF – symbol XLE – caught my eye. Let’s take a look at the current support level at $72 and then note a logical downside target if the key support level here fails to result in a rally as the next…
At the start of last week, I showed the “Arc Pattern” trendline boundaries that were forming at the peak of the intraday arc in gold prices, and this week, the arc continues right on schedule. Let’s take a look at the updated/current “Arc” pattern and then see where that structure takes us on the daily…
I’m seeing a lot of comments about Sina.com (SINA) stock, first with the run-up in share prices and now with the stellar retracement/sell-off phase underway. Let’s take a look at the current action and mix in a few important trading tips and lessons along the way. First, the “bigger picture” Daily Chart for perspective: Starting…
Financial stocks have seen relative weakness with companies in other sectors, as evidenced by the lackluster performance and recent support breakdowns in the leading Financial ETF – XLF. Let’s take a Daily then Weekly view to learn lessons from the structure, and see current reference levels to watch. First, the Daily Chart (notice the “Arc”):…
Intraday Gold prices are forming a classic “Arc Trendline” pattern that should be interesting to follow in the week ahead – depending on whether this structure continues gently or if price breaks firmly through one of the arc trendlines in place. Let’s take a look at the pattern and note the levels we should be…
Market participants can’t say the “worse than expected” Non-Farm Payrolls (Jobs) Report was a complete surprise, given that the tide of economic news recently turned sharply negative (or at least has been hitting consistently under expectations). With Friday’s “Jobs Report” also worse than expected, let’s take a quick pre-market look at the current intraday intermarket…
What key reference price levels should we be watching in crude oil at the moment? Let’s take a look: A quick look at the chart above shows us two levels of confluence at the $103 overhead level – perhaps more appropriately $103.75 or $104 for a nice clean round number. Why is that level significant…
What message is the market sending as we transition into June 2011? More importantly, what levels are the current reference boundaries that – when broken – will likely trigger an impulse breakout swing? Glad you asked! Let’s take a look at the “Big Three” US Stock Market Indexes and review these levels. First, the S&P…
Many investors were taken sharply by surprise initially by the stellar run-up in Silver prices, and then perhaps more so by the dramatic collapse in prices after the period of euphoria and instability. But how do you define “instability” and “euphoria” objectively? Let’s learn a lesson from Silver’s Sigma (Standard Deviation) Bands and see what…