I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
It’s hard to believe it’s Leap Day 2016 already! Let’s jump right in to our Monday Trade Planning Levels for the S&P @ES (E-minis) and trade the movement toward or away from these key levels. I’ve been highlighting these levels each day to our Daily Planing Members (join us for access). A quick glance reveals…
The initial breakout continued but stalled into the 1,960 area, sending price back to the breakout level. Will price continue to break out? See yesterday’s update for targets if so. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: The initial break above 1,945 set in motion a…
If you don’t actively follow commodities, you may have missed the severity of the ongoing “commodity creep” or “commodity collapse” which has taken the broader CRB Index to a startling location. Let’s begin our perspective with the Monthly Chart: The Thompson Reuters/Jefferies Commodity Research Board CRB Index is a measure of 19 commodities, though Oil/Petroleum…
Yesterday’s “Bear Trap” reversal propelled price back to the highs into 1,945 ahead of a possible breakout. Will price break out? See this morning’s update for targets if so. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Sellers formed united resistance into the 1,940/1,945 upside target but…
Both the Dow Jones and S&P 500 have bounced between daily moving averages in a key short-term range level. Soon, both markets will break free from this range. What’s the range, where are the breakout levels, and what may happen next? Let’s start with the S&P 500 key levels: For the S&P 500, our key…
What’s Chipotle (CMG) shares up to now? What opportunities exist to trade them? Let’s start with the Daily Chart, note the key levels, and plan from there: The E.coli scare sent investors fleeing the stock, resulting in a collapse from $750 to $400 per share. It’s possible if not likely that Chipotle (CMG) shares bottomed…
Yesterday saw the S&P 500 trade up into the 1,940/1,945 upper resistance target and today the market fell lower from this target level. Let’s update our S&P 500 intraday chart and note the key trade planning levels right now: For the broader (Daily Chart) perspective, see yesterday’s S&P 500 Breakout or Range Update. We noted…
Technology sector Dow stocks Cisco (CSCO) and IBM have been strongly downtrending into 2016. However, like October 2015, we’re seeing impressive reversal bounces in these stocks. Let’s chart the reversal and plan the pathway ahead for these giants: Shares of IBM have been strongly downtrending since the early 2013 peak above $210 per share. Price…
Might the S&P 500 break powerfully through resistance from the current “Neutral Zone?” If so, what are the upside targets? Let’s highlight our current “Neutral Range Zone” levels and plan for a possible breakout: I’ve been charting for members the “Repeat Pattern” of October 2015 which you can see highlighted above. Let’s start there. In…
Price fell as forecast from the 1,925/1,9230 level toward our 1,900 pivot – where we bounced powerfully today. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: We expected a movement “down away from” the 1,925 level toward 1,900 and price almost exactly achieved this target. A strong…