I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
If you’re an intraday trader of stock market index futures or ETFs, you probably noticed visible surges of buy/bullish volume into these funds today and Wednesday. Let’s zoom-in on this bullish volume action and put it in context of the critical higher timeframe support level at 1,300 in the S&P 500. First, the SPY ETF…
It’s time for another update on the “Stocks Most Over/Under-Extended from their 200 day SMA” list! It’s surprising how much has NOT changed since the last update, but that is part of the benefit of this occasional scan. The scan is designed to find the strongest and weakest stocks in terms of their distance –…
With the broad indexes challenging – and in some cases breaking – initial ‘barrier’ support levels, the financial sector is already breaking down into fresh 2011 lows. We see a similar picture in the triple-leveraged financial bull fund FAS – a popular vehicle for aggressive traders. What’s the current pattern and critical level to watch…
The three major US Equity Indexes have been precariously straddling initial support levels, and as we start this May 23rd week, all three indexes gapped down under these initial levels. Let’s take a “Triple Index” overview of the current structures with regard to the “Barrier” levels to watch and then future “Points of No Return.”…
I wanted to show a follow-up to my prior post “Clear Bearish Signals Developing from the Sector Rotation Model,” and focus on the breakouts in the “Big Three” Defensive Sector ETFs: Staples, Health Care, and Utilities. Let’s take a quick look at the similarities – and strong recent breakout – in these defensive funds. First,…
What are the “Big Three” Market Internals saying about the current structure in the S&P 500? Let’s take a look: I shared this chart in yesterday’s Idealized Trades member report, and we’re already seeing the bullish follow-through today that was suggested from the picture in Market Internals. To recap, the “Big Three” Internals are Breadth,…
Traders who enjoy playing price off major inflection (decision) points have a potential opportunity forming here in Monsanto (MON) – an important agricultural company – as price sits atop a critical support/reference area at $63.00 per share. Let’s see how this area has become important and what the implications would be if the area holds……
I’ve been writing about the critical “Make-or-Break” area in the S&P 500 near the 1,340 level, and that is exactly where we start the new week. Let’s take a focused look at this key level and set-up target expectations depending on whether the support level holds or breaks. The 1,340 key pivot is important because…
What does the Sector Rotation Model reveal about the current market situation? Money appears to be flowing into Defensive Sectors and in part away from Offensive Sectors, which is a clear “Caution” or warning sign for the market at the moment. Let’s take a look at Sector Performance Year-to-Date: I break down the nine Sector…
While scanning major ETFs, I found an interesting pattern/structure that I wanted to share on the Regional Banking ETF – KRE. The Regional Banking ETF can be a good proxy for smaller/community banks as opposed to the large financial institutions like Bank of America, Citigroup, JP Morgan, etc. So what’s going on and what should…