I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Today marked an important initial breakdown in the daily chart of key bond funds TLT and IEF. Let’s take a specific look at the 7-10 year IEF Treasury Fund, and the corresponding breakout in the leveraged inverse TBT 20+ year Treasury ETF. The IEF is the lesser-known cousin to leading bond fund TLT (20+ Year). …
The S&P 500 bottomed (recent swing low) at the 1,040 level at the end of August/start of September and has rallied almost non-stop to the 1,230 area. Two quick questions come to mind – how have the individual sectors performed, and what does this say about the broader market? Let’s take a look: When doing…
While a one-day move greater than 10% is stellar for any stock, especially one as watched/traded as Cisco Systems (CSCO), let’s take a look at the bigger picture and journey from the monthly chart down to the daily frame to put this overnight move into a broader context. First, CSCO’s Monthy Structure: In the grand…
I admit that the most recent move higher in Exxon-Mobil (XOM) – a leading bellweather stock to watch – has been impressive, taking price up into weekly resistance. Let’s move our way up from the daily chart to view the weekly level and find out what might be the next potential move for XOM. I’ve…
With stocks at new 2010 highs, what is the VIX – Volatility Index – printing on its year-to-date chart? Let’s take a look at the SP500, VIX, and then an overlaid SPX and VIX Chart to gather insights from this important indicator. First, the S&P 500 to serve as a reference: I’ve posted about this…
A lot of traders have been paying attention to the Dollar, but it’s also important to watch the Euro and what’s taking shape on its respective price charts. Let’s take a quick Weekly then Daily look at the Euro-trust ETF – FXE – and reveal a weekly confluence level to watch, and a possible daily…
Borrowing a phrase from the Guy Fawkes Day chant “Remember, Remember the 5th of November” (popular in the United Kingdom), I thought it was fitting to take a look at the “Fibonaccis in November,” namely the Dow, NASDAQ, and S&P 500 61.8% large-scale Fibonacci retracements – which are playing a role in the current market…
Ahhh breakouts – while most traders love them, they can be frustrating to trade for others. Given this morning’s activity, I wanted to do a quick profile on three leading stocks breaking out to new 52-week highs and revisit the “Popped Stops” logic from this morning’s post. First, I’ve been very interested with Caterpillar (CAT)…
Going up into this week, I’ve been describing two scenarios – one of which was the expectation for a “Popped Stops” bust-out if the S&P 500 rose above the 1,200 (targeting 1,220) and then of course higher beyond that on a second break above 1,220. With this morning’s upside action breaking 1,200, the immediate and…
I posted a recent update on Caterpillar (CAT) on September 30th, noting the price at the $80 level, and one month later… not much has changed. Caterpillar shares have held the $80 per share level like a major wall of overhead resistance, as we’ll see in this update, and now it’s time to turn back…