I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Up, back down, up, back to a new low, and now off to a new high – that’s today’s session in a nutshell. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Our 1,835 SP500 target was achieved yesterday and price rallied up into the close on positive…
Which of the nine major sectors is currently the strongest, which is the weakest, and what does that say about the likely future of the stock market? Let’s take a look. The simple price comparison charts above – noting trend – highlight the nine main AMEX Sector SPDRs. We use this as the basis of…
Two months into 2016 and the stock market is falling to fresh new downtrending lows. Let’s take a quick look at the chart, note the new trend and highlight the key levels for planning and trading. We’ll start with the Daily Chart of the S&P 500: I highlighted the short-term Bear Flag (blue trendlines) to…
Tech stocks lead the market lower and there are some surprising drops in major names. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: I highlighted the Negative Divergence and Bull Trap for you (and members) yesterday morning and indeed the trap scenario was accurate. Buyers pushed the…
With price collapsing once again as the downtrend continues, the S&P 500 index faces a critical “make or break” challenge at a key pivot level. Let’s pinpoint this level and get ready for the next swing yet to come. Here’s our simple Daily Chart with reference levels: Before focusing on the current level, be sure…
We’ve been targeting the $1,150 level in Gold and price achieved that key target this week. What’s going on and what’s the next trade plan for gold now that this one was successful? Let’s see and plan it! In the Weekly Member Reports, I’ve been calling for a third “counter-trend rally higher” toward the $1,150…
Yesterday saw a bullish “surprise” reversal and today gives us the opposite – a bear trap and bearish reversal. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: Price rallied up and reversed yesterday from a visual positive momentum and TICK (internal) divergence… and we see the bearish…
Stocks fell sharply from a key overhead resistance target – with divergences – to produce today’s Trend Day Down. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: For members last night and on the TradeStation Morning Market Briefing, I highlighted the 1,945 level as the key pivot…
Google (GOOGL) broke impulsively higher to a fresh new all-time price high today after yesterday’s better than expected earnings announcement. Let’s update our Google (GOOGL) charts and take note of the new breakout in an ongoing strong uptrend. First, take a look at last week’s post “The Bullish Breakout and Uptrend Continues in Google.” In…
Crude Oil (@CL) broke lower at resistance with stocks this morning. Let’s overlay a Fibonacci Retracement Grid and plan the key levels and opportunities right now: We were targeting the $34.00 level (a Daily Chart target) after the intraday V-Spike Reversal on January 20th. Price waved its way up to that target, giving a few…