I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
As I mentioned in last night’s post “S&P 500 Color Bars,” the S&P needed a little more ‘push’ to switch the color rule green, and that signal has triggered just now. Let’s take a mid-day look at the S&P 500 Index to see key overhead resistance points and see the “Green” Rule triggering on today’s…
What happens when a Security appears to be coming into resistance on the weekly chart and holding at support on the Daily Chart? Let’s follow the Ten-Year Note Yield ($TNX) Chart to find out. It’s almost like the question, “What happens when an unstoppable force meets and immovable object?” Answer = Definitions Change. Ten Year…
I wanted to introduce a new feature – that of “Color Bars” in our analysis. Let’s get started with a Daily look at the S&P 500 Index. Let’s do a quick introduction to the color bars and their logic. The bars are based on an Average True Range function (credit to LBR Group) where the…
With the middle of March almost upon us, let’s take a look so far at the Sector Returns (AMEX Sector SPDRs) year to date to see what the Sector Rotation model might be telling us. With little surprise, the Financials (XLF) grossly underperformed all other sectors year-to-date, losing 42% in just over a two-month period. …
We finally got that ‘oversold bounce’ we’d been anticipating – though that was an understatement! Let’s step inside Tuesday’s “Trend Day” action to see how one could have profited from the intraday structure and managed risk accordingly. DIA 5-min (March 10, 2009): First, the daily structure (in terms of two dojis in oversold conditions at…
That’s quite an ambitious headline, but it seems the US Equity Market is more than ready for a counter-trend retracement rally up. Let’s look at the S&P 500 to see the structure and how far the rally might last. S&P 500 Daily Chart: Friday’s close and Monday’s close both resulted in dojis in deeply oversold…
What a day! Monday’s (March 9th) intraday price action shows why it’s so important to go back and annotate the structure and “idealized trade set-ups” so you can recognize it quicker as it develops in real time in order to apply the most appropriate trading strategies early. Let’s step inside Monday’s 5-min DIA action: Let’s…
I’ve been watching Crude Oil very closely to see if we’d ever get a reversal as expected off these lows. Let’s take a look at the Daily Chart to see where we are and whether a possible reversal to the upside might be developing. (Click for larger image) Are we finally getting that reversal that…
One would think everyday consumer staples stocks would at least hold their own during a recession but Johnson and Johnson (JNJ), who make numerous household products we use every day, suffered a significant downswing in price over the last two weeks, hinting that not even “very safe” stocks (to hedge with, or for those who…
With the media discussing the six stocks that fell beneath $10 in the Dow Jones Average, let’s also compare that to the number and percentage of stocks that have fallen beneath $10 per share in the S&P 500 – you can also use this chart as a quick reference. Stocks Under $10 on the S&P…