I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Monday’s trading was surprising both to bulls and bears – opening with a large overnight gap which was quickly faded, and price closed near the lows of the day. Let’s look at the structure and possible trading opportunities that presented themselves. DIA 5-min chart: With price opening with an overnight (over-weekend) gap, odds are favorable…
Friday’s intraday action in the major US Indexes was nothing shy of stellar, given all the potential economic turbulence that set-up during the day. Let’s look at the DIA – Dow Jones ETF 5-minute chart: The day opened with news that Freddie Mac (FRE) may be in severe trouble, and then rumors of a financial…
Treasury Bond/Note Yields rose rapidly for the first part of June and then fell just as rapidly through the second part. With yields testing weekly support, and failing daily support, are we due for a reversal back to the downside or a simple reassertion of the potentially newly developed uptrend? Let’s look at the 10…
It’s time to broaden our perspective and view the major market indexes from countries around the world. How have they performed since the October 2007 US Stock Market Peak? Let’s review the percentage comparison for insights. Since the October preak, only Brazil ($BVSP) has held its own, and has now turned negative from the peak…
Today’s intraday price action in the major US Indexes was nothing short of fascinating. Swift moves caught both longs and shorts off guard, and momentum, velocity, and volatility was high – despite the day ending not far from where it started. DIA 5-minute chart: I expected an upside, potential upside reversal bias to the day…
The Stock and Index Futures market recently plunged precipitously and are currently trading at session lows due to increased uncertainty about the state of the economy. Let’s look at the plunge and the pattern preceding it. The chart shown is the @YMU08 or Dow-Mini futures contract (instead of the DIA, which I normally show). Price…
Last week, gold prices broke a set of resistance trendlines, and could be headed higher. Let’s look at the chart to see the recent developments. Gold prices (per ounce) daily: Whether you draw the longer trendline off the closing (or even intraday) highs from mid-March, or of the most recent two swing highs, price indeed…
Is Apple Inc (AAPL) coming up on a short-term buy signal? Let’s look at the price structure to see. Let’s start with the weekly chart: Price may be finding potential support at the rising 20 week moving average, which could set-up a low risk entry (with a stop possibly beneath the 20 period average or…
Crude Oil has been, and is currently, the focus of an extraordinary amount of coverage in the media, and is a dominant topic at the watercoolers and at home. Ask anyone you see and odds are they have a strong opinion about high crude oil (or gasoline) prices – and it’s probably strongly negative. This…
Today was quite the interesting and surprising day in the major US Indexes. Why? They flip-flopped more than a politician campaigning. Let’s reveal the intraday action and see if there’s anything we can learn from today’s action. DIA – Dow Jones 5-min chart: There really is so much to say about today’s action. Let’s start…