I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
You’ve probably heard about the large-scale data breach exposing customer data at Equifax (EFX). We’re not here to talk about that, but instead note the affect the news had on this strongly uptrending stock. Here’s the run-up and the collapse on the chart: We like to identify “Strong Stocks Getting Stronger” and buy pullbacks in…
As if there were never any doubts, equities surged to new all-time highs this week. Beneath the stock market’s action, we’re seeing a sudden surge of “Risk-ON” money flow accompany the stock market’s rally. What does that mean and what’s happening right now? Let’s find out: We’re seeing our quick “Quad-Market” or “Intermarket” Money Flow…
Like a strong tree rotting on the inside, the S&P 500 breadth currently tells a story of an impressive rally that is deteriorating from within. What’s the picture and what does it mean for our future short-term trades? Let’s take a peek inside: We’re seeing the S&P 500 (top) with two measures of Breadth: The…
Our breakout beyond 2,470 was short-lived last week. Now, we’re back within our grid. Let’s chart today’s @ES Fibonacci Grid in play: After the Labor Day holiday, shares plunged back toward our 2,448 Fibonacci Pivot and reversed powerfully up away from this level, closing back at the 2,458 Fibonacci Target. At the moment, we’re back…
General Electric (GE) is a horrendously downtrending stock but we’re seeing a big counter-trend bounce taking place now off support on positive divergences. Let’s step inside this price action, paint a target, and plan for the future swing yet to come: Shares peaked at $33.00 per share last July 2016 and have been strongly downtrending…
Wow, that was fast! Stocks rebounded like a rocket off our 2,425 Fibonacci Pivot. Let’s chart today’s @ES Fibonacci Grid in play: I highlight these levels develop a game-plan for the next trading day for our members. The prior gap-down (overnight) sent the market back to our 2,425 level and ended the session at our…
If you’ve been trying to find a bottom in Snapchat, August may have been your month. Price rallied up toward the falling 50 day EMA target, and we now await a breakout event or a simple resumption of the downtrend with the current “bear flag” trade opportunity against resistance. Which scenario will prevail? That’s your…
We finally got a breakout of our Fibonacci Grid!!! Here’s today’s big update in price action. Let’s chart today’s @ES Fibonacci Grid in play: I highlight these levels develop a game-plan for the next trading day for our members. Yesterday saw a gap-down to our 78.6% level (overnight) and a strong intraday rally back inside…
Let’s expand the perspective on today’s “Dollar Drop and Gold Breakout.” The two charts below compare the divergent Daily Trends of the Dollar and Gold: Gold surged in early 2017 off the $1,150 price pivot quickly toward the $1,300 target. From there, an $80 sideways trading range developed, allowing us to play “ping-pong” trades between…
We don’t fight or fade trends in motion, and the big gap-and-trend action in both the US Dollar Index and Gold remind us why we hold this core trading strategy. Let’s take a look at the “gap-and-trend” action: The key resistance level – and target – for Gold was $1,300 and buyers shattered this level…