I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
The S&P 500 has moved up into a short-term Gann Squares inflection level – similar to a Fibonacci level – which is worth considering as we move into the final push of 2010. Let’s take a look at the updated Gann Squares Chart of the S&P 500 to see what the current and future levels…
I love highlighting divergences in posts – they’re also enjoyable to trade when you get used to seeing them at key turning points in the market, particularly at a higher timeframe key level. Let’s learn from a recent example from this morning’s hard push to new lows… that was met with a sharp positive TICK…
There’s something rather odd about the relationship between Treasury Yields and the S&P 500 over the last few months, as we’ll soon discover in the chart. Let’s take a look at the past positive relationship from the start of the Recession through the current Recovery and make notes and observations along the way. I always…
We’re seeing a big move down this morning in the US Dollar Index (and by proxy, a move UP in the EUR/USD FOREX Pair). Let’s take a quick look at the Hourly Structure and see how this is playing out and what to watch next. In this week’s Inter-market Report to subscribers, I wrote of…
Sandisk (SNDK) has been an interesting stock and is currently knocking at – or perhaps breaking through – key overhead resistance at the $50 per share level. Let’s take a look at the current chart picture, note key levels to watch, and the dominant larger-scale “IF/THEN” logic to monitor as the weeks go on from…
I’ve had a few requests to keep up with China’s Shanghai Stock Exchange Index, and indeed it’s trapped right now between two key confluence levels which make for an interesting chart picture. Let’s start with the Daily Chart, note the key levels, then move to the pure Fibonacci Confluence Retracement Chart for additional clues, and…
While scanning the stocks in the Dow Jones Index just now, a particular move in the stock price of McDonalds caught my eye that I wanted to share. Let’s see the creeper power-up trend that gave-way to a ‘hard fall’ to a key daily support level. It’s a good example of watching support as it…
While many investors or traders have been focused on gold prices, the Silver market has actually outperformed in a big way, but it’s come into a round number resistance level that’s worth studying more. Let’s take a look at the (amazing) weekly chart of Silver, then turn to the Daily Chart for key levels to…
Bank of America has been in the news lately, and it’s one of the major financial companies that’s underperfoming its peers in the financial sector. Let’s start with the Weekly Chart and then drill down to the Daily Chart to look at possible opportunities, levels, and lessons. BAC Weekly: If we cut through the noise…
What are current market internals – specifically Breadth and Volume Difference (of Breadth) – revealing about the current strength of the recent price push into overhead resistance? Let’s take a look and devise an “IF/THEN” scenario to plan what to do depending on what happens here at the key overhead levels. Traders often look “under…