I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Apple, Inc (AAPL), which has been on yet another amazing price run for 2008, recently retraced to its sharply rising 20 day moving average, which sets up a potential low-risk entry for traders. Let’s see this zone: The last time Apple retraced to support was near April 14th, which set up a ‘confluence of support’…
With the day’s action complete, let’s look at the key points you could have added to a core position, or traded for quick scalp profits during the highly expected downswing in the market today: First, there was a prevailing bearish bias going into the day from the structure of the daily chart on the Indexes…
I figured we might get some continued downside in the broader market today, but I’m always surprised at how swift and rapid these sell-offs actually are. Let’s take a quick look at the action so far as we near 2:30 EST in the trading day. I’ll be using one chart created ‘on the fly’ from…
This morning while scanning the Newsflashr Business Feeds section, I noticed that virtually every major news organization was reporting on Crude Oil prices breaching $130 per barrel for the first time. Most of the headlines were of this variety: “Crude Surges Above $130 on Supply Concern” – Fox Business “Oil Tops $130 for First Time”…
The US Stock Market Indexes fell 1% today, after selling off into the close on Monday’s trading, causing price to trade at lower levels far quicker than it rose to these levels. Let’s look at the Dow for clues regarding potential structural trades you could have taken. The price began the morning with a sharp…
After failing twice at its 200 day moving average, the US Stock Market indexes tested lower levels, and do so with a sharp sell-off. Let’s view the larger picture of where price is on the Dow Jones Index: The most recent action is not the end of the world by far. Price appears to be…
Today’s action was stellar both for the bulls and the bears, turning what looked like a trend day up into yet another end-of-day sell-off into the close. Let’s look at some possible trade ideas that you could have taken within this structure. I had expectations for price movement to the downside at the open, but…
Apple’s new store in Boston, MA was opened to the public Thursday evening and I must say I was amazed at the beauty and aesthetic appeal of the storefront. I wanted to share a couple of pictures: (Courtesy Apple Insider) (Courtesy Apple.com) They’re building a new Apple store in my hometown of Huntsville, AL which…
The market indexes gave us another strange styled trend day today, with the market opening on the lows and closing on the highs while providing excellent retracement entry trades along the way. Let’s examine it: While traditional (or powerful) trend days begin with an opening gap, today’s price action opened very close to yesterday’s close. …
The US Markets remain trapped beneath their 200 day moving average but above their rising 20 period average. A breakout is likely, but in which direction will it occur? Let’s look at the SPY (S&P 500 ETF): The 200 period average is declining while the 20 is rising, and price is in a strong uptrending…