I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Price traded into the 1,925/1,930 level in the S&P 500 and stalled for a retracement lower today. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Price fulfilled our expectation and traded sharply higher – impulsively – above the 1,900 level toward the 1,925 target yesterday. Price stalled…
Popular stock Amazon.com (AMZN) rallied to new highs at the beginning of 2016 but price collapsed as the weeks progressed. We now have a retracement to a critical resistance target and our planning comes from what happens here. Let’s chart the level and plan the next price swing to trade: It took just over one…
Trend Days! Bullish Price Action! That’s what we’ve been seeing the last few trading sessions. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: We were looking for upside action “away from” 1,825 “toward” 1,900, then higher on a breakout above 1,900. See yesterday’s post: “February 16 Price…
With the S&P 500 bounce up off support as expected, what levels are we watching for current trades? Let’s simply take a look: As planned in the Daily and Weekly Strategy Report for members, we expected another bounce or rally “up away from” the 1,825 pivot as shown above. Positive divergences appeared at the key…
Casino stock Wynn Resorts (WYNN) was a darling rising stock of 2013 but the trend reversed into a relentless bear market through 2014 to the present. Are shares staging a reversal here? And what levels are important? Let’s take a look: Price more than doubled in the run-up from 2012 to the 2014 peak above…
After sinking to new swing lows together, stocks and Crude Oil reversed higher off positive divergences. Let’s pinpoint the price action and study the lesson from the dual divergences and reversal: The unified chart above tracks the S&P 500 (@ES Futures) with Crude Oil (@CL) on the 5-min intraday chart. Price continued a sell-swing to…
If you’ve not been watching or trading gold, you’ve missed something incredibly exciting and rare. More than not, price trades orderly, moving from one target level to the next. Gold, instead, shot through two key resistance targets like a rocket soaring into space! Let’s update our Gold charts and plot the breakouts above resistance targets…
Yesterday’s divergences into resistance set the stage for a down-swing – and that’s precisely what happened. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Yesterday saw a rally into the 1,875 upper resistance target – on negative divergences I highlighted – and the end-of-day activity was a…
Gold is challenging the underside of the $1,200 key target level after a strong rally. Let’s update our short-term charts and plan the next swing from here: On the intraday frame, we can see the strong rally “up away from” the $1,150 level “toward” our $1,200 target. Buyers have taken profits logically into the underside…
Which five stocks are most over-extended above AND beneath their 200 day Simple Moving Average? Let’s highlight these candidates on our monthly stock scan. We’ll start with the stocks most over-extended to the upside (given the 2016 downtrend): Let’s take a moment to define what we’re seeing. This is a simple stock scan (from FinViz.com)…