I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Anyone who knows me knows how big a fan I am of “Market Internal” divergences (or momentum divergences as well). They’re one of my favorite methods of market analysis, as they seek to reveal the health – or weakness – of a trend in progress. Divergences often appear ahead of big turns in price, and…
So far, the S&P 500 has gently crept to the two shorter-term upside price targets after the breakout from resistance at 1,130. Now that the index tests the second upside target, what does the daily chart show and what are the odds of breaking through… or falling down from here. Let’s take a quick look:…
I was playing around with a new indicator in TradeStation that shows a similar style of Market Profile (Time, Price, Opportunity) charts and wanted to show the recent progression of the big move up recently in the S&P 500 (SPY). Let’s take a look at the chart and see what the “profile” reveals: (Click for…
I wanted to take a moment and remind you of the importance of analyzing price “Structure” when setting up what type of trades you are wishing to take, or how to be positioned for a swing or longer-term trade in a given market. Price Structure is probably the simplest form of Technical Analysis, but I…
One of the main themes recently in the FOREX market is the weakening of the Dollar relative to other currencies. Let’s that a quick chart-peak at the 2010 move in the EUR-USD FOREX Pair and note key resistance levels broken and a potential “Measured Move” price projection target that is due to hit soon… and…
I’ve been discussing this ‘triple-play’ extensively in the Weekly Reports, but I wanted to pull the perspective back and show the pure price moves that seem to be tripping up a lot of traders right now. I often show in blog posts and in member reports that the picture can become clearest without a myriad…
Investors in Amazon.com (AMZN) have been treated to a multi-month rally, but we need to watch the $160 level as overhead resistance, look to short-term support, and note the key price levels that will be important in determining the next likely move for the stock. Let’s start first with the Monthly ‘structure’ view: Without going…
If you’ve been watching shares of leading stock Caterpillar (CAT) recently, you probably noticed something extraordinary unusual – at least from a price standpoint. In a permanent reminder of why watching price levels on the higher timeframe is important to both investors and traders, Caterpillar shares again brushed up into an overhead brick wall of…
You may be asking, “What are Market Internals saying about the recent price action in the S&P 500?” Good question! Let’s take a look at current intraday market internals and also note the developing ascending triangle price pattern that is forming – and of course the trendline price boundaries to watch for clues for a…
Exxon-Mobile’s (XOM) stock chart has a tendency to form triangle patterns – as I’ve pointed out in the past. It looks like another symmetrical triangle price pattern has formed, with price slightly tipping above the upper boundary on lackluster volume and momentum – perhaps we’ll need to redraw the boundary. Let’s take a look at…