I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Despite better than expected earnings per share and revenue, Netflix (NFLX) stock collapsed overnight into this morning with an “Oops” Breakout Pattern. Let’s chart our “Oops Breakout” and plot the current levels on which to focus in NFLX: We’ll see it clearer in the next chart but on the indicator-overlay chart, we see Netflix rallying…
The Intervention Pattern Continues with additional upside price action on a gap-up this morning. Like yesterday, let’s start with the recurring price pattern and then plan our trading levels: Here’s the Intervention Pattern: First, price gaps down strongly overnight or off the open. Second, buyers rush to put on positions, stabilizing the market and buying…
Buyers rushed in to halt a down-gap and sell-off this morning, resulting in a strong short-squeezed breakout. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: On the lower frame chart, we can see a “Flag” or AB=CD Price Pattern completing just shy of the full 2,000 target….
Let’s look very closely at a recent blatant pattern of intervention during the current market rally that occurred once again this morning. We’ll start with the recurring price pattern and then plan our trading levels for the day: Here’s the Intervention Pattern: First, price gaps down strongly overnight or off the open. Second, buyers rush…
Finally, we’re seeing a pullback from resistance. How far will the market retrace and what are our targets? Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: First, step inside the price action with our post about Market Internals (Breadth and TICK). I’m admittedly relieved that price didn’t continue defying…
We’re reaching the breaking point for our extended rally. Internals aren’t keeping pace with price, yet price plows over all evidence to the contrary. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Be sure to start with this morning’s “Defying Gravity Emini Breakout and Level Update” for…
Like Elphaba in Wicked, the US Stock Market continues to defy gravity with a breakout beyond resistance. With the @ES (Emini) “flying so high,” what new Fibonacci Levels and targets are in play? Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: First, step inside the price action with yesterday’s…
Breakout! Bulls everywhere! New Highs! No bearishness in sight! That’s not quite true at all, but nonetheless stocks did break into an impulsive trend day higher. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Be sure to start with this morning’s “Emini Breakout and Level Update” for…
The S&P 500 (stock market) broke out of a range to new swing highs today. What message is Breadth sending as to the health or weakness of the actual price breakout? Let’s take a look – the message is clear: For a broader perspective on Daily Chart Breadth, see our prior update this week. Breadth…
Breakout!! However, will the breakout hold and will price continue powering higher? Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: We’ll eventually have to abandon our Fibonacci Levels above but for now, they’re still in play for reference. Price closed the day into our 2,054.50 level Monday and then…