I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
“Stocks which are weak tend to get weaker.” Twitter (TWTR) continues to demonstrate the power of this simple statement for traders. It’s extremely tempting to find a weak stock and try to trade a reversal, but it’s more profitable to find a trend and ride it for all it is worth. Let’s chart the Weekly…
We’re seeing at least a short-term bounce develop off key planning levels for US Stocks. Let’s pinpoint these levels and craft a trading plan for the bounce or collapse from the new “Make or Breakdown” Pivot Points. First, take a look at last week’s “Bigger Picture Weekly Chart Price Pivot Levels” to accompany today’s post….
Can buyers catch a break? Or better yet, catch a falling knife? Not yet it seems. Yesterday’s big rally was completely erased with this morning’s opening gap – and the selling continued. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: As I highlighted last weekend to our…
The “Distribution Arc” pattern I highlighted at the beginning of January has indeed played out to the full target levels. What now? Let’s quickly update our key levels on the weekly chart of the S&P 500, Dow Jones, and NASDAQ at the midpoint of January 2016. Here’s the S&P 500: First, take a moment to…
Some might say we were way overdue for a larger rally or snap-back bounce for the stock market. Nevertheless, all in good time for the market – today’s session did result in a powerful reversal rally and strong trend day to the upside as buyers retook the 1,900 key level. Let’s update our levels for…
With the downside target fully achieved on a second “crash,” we prepare our next move as traders. Will we be “bounce bullish” on a third intervention and rally “up away from” the critical level or will the third time be the charm for the bears, extending the collapse and triggering a new wave of aggressive…
Crude Oil finally (and fully) achieved its downside round-number target of $30.00 per barrel this morning. What’s the play here? Let’s update our chart, learn a quick lesson, and plan the future. The first thing we do when we look at a price chart is assess the trend (Up, Down, Sideways). When a trend is…
Now it’s time for a little good (bullish) news for the market – or at least a particular stock. Lululemon (LULU) completed a “Saucer” or “Rounded Reversal” price pattern with a bullish breakout. Let’s see the chart and note the new opportunity and targets: Price gapped down into a bearish swing in the latter part…
Just how low can this market go and how many more support levels can it break? Let’s step out beyond the S&P 500 and the Dow Jones to focus on the Russell 2000, a small-cap index to get a sense of where stocks have traded. We’ll get an initial perspective from the Weekly Chart: To…
Are stocks set to bounce (rally) after multiple days of selling? Divergences at support say YES! While nothing is ever guaranteed, let’s set the stage for what catalysts may trigger a bullish reaction higher (which you can trade) and what targets to play for should it occur. We’ll start with the S&P 500 intraday chart…