I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
From the negative divergences in an overextended market, a pullback was precisely the expected future. However, this pullback was faster and more furious than expected, collapsing the market straight into a key target. Here’s today’s updated Emini (@ES) trading levels for your trades: Be sure to revisit last week’s updates regarding Market Internal Divergences and…
We know that US Stocks surged to new all-time highs this week as the Dow Jones broke above 20,000. However, did you know what happened to Gold, Oil, and the US Dollar Index? Let’s scratch beneath the headlines of the stock market to see fund money flow in our quad-market grid: First, stocks traded sideways…
Down from the highs we go! At least temporarily. Yesterday we looked at our negative divergence in Market Internals which suggested a likely pullback (lower) in price… and here it continues today. Here’s today’s updated Emini (@ES) trading levels for your trades: I’m plotting Breadth (Advancing minus Declining Issues) with price to highlight the negative…
How high will this breakout travel? Let’s take a moment to look beneath price to our market internals. Here’s today’s updated Emini (@ES) trading levels for your trades: Finally, we have an exciting and profitable bullish breakout OUT OF our sideways (highlighted) trading range. Unfortunately, we don’t have clear Fibonacci or other key price levels…
The market just became exciting again! After a month in a well-defined sideways trading range, buyers finally won the battle against sellers, resulting in an initial breakout and now a powerful short-squeeze (breakout) in motion. Here’s today’s updated Emini (@ES) trading levels for your trades: Fortunately, we have an exciting and profitable bullish breakout OUT…
Nobody wants to be a “Creeper” but as traders we certainty do enjoy “creeper” intraday uptrends like these. Let’s chart today’s price action with the most recent similar “creeper” intraday uptrend and draw some parallels as to what’s happening and what we can do about it. First, take a look at today’s morning update on…
Trading the market is extraordinary easy right now – buy when price touches the lower support and short it when it touches the upper resistance of a clearly-defined trading range. Easy right? Of course it’s not so easy but that’s what’s worked so far in 2017. Here’s today’s updated Emini (@ES) trading levels for your…
Stop what you’re doing and look at the trading range. Now. Take off all indicators and focus on price. We’re still trading within a clear range – no breakout yet – and today’s action fits perfectly in that context. Here’s today’s updated Emini (@ES) trading levels for your trades: We continue to see price –…
If you’ve ever wondered why we chart momentum and volume along with price, BMY tells us why. Today shares literally collapsed back to the lows, down from the prior swing highs. Wouldn’t it have been nice to know this was a distinct possibility? Divergences warned us many days in advance. Let’s study this example from…
A major part of technical analysis (charting) is identifying prior patterns – and their outcomes – and comparing them to what’s happening right now in the market. It’s not to say that history will repeat 100%, but if it does, you have an advantage over other traders who don’t see the pattern (and who are…