I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Uptrending Stock JetBlue (JBLU) broke under a key support level today, triggering an opportunity for traders. What’s the trading opportunity and target with the breakdown? Let’s check it out! JetBlue Airways (JBLU) continued a very strong trend through 2015, retracing twice into June and August. September to December saw a sideways trading range (consolidation) that…
As stocks threaten to trade lower, let’s highlight the four weak (downtrending) Dow Jones stocks at fresh new trending lows. These stocks remind us why it’s better to trade WITH a trend as opposed to fighting it (playing reversals). In addition, these serve as possible candidates for short-selling retracements or additional breakdowns should these strong…
Today gives us another uptrending session (so far) for stocks as price bounces from the 2,040 pivot. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: In-depth analysis is always provided to members of the Premium Daily Reports – I hope you’ll join and benefit. Buyers reversed the…
That was a BIG reversal! Stocks initially traded higher this morning, only to reverse powerfully lower mid-day. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: In-depth analysis is always provided to members of the Premium Daily Reports – I hope you’ll join and benefit. We’re still in…
What levels and targets are important for traders on the S&P 500? Let’s update our charts and take a closer look: With the exception of the late 2015 Collapse and Instant Recovery, price has remained trapped within the “Great Rectangle of 2015” between 2,040 and 2,120. The Midpoint Magnet Level (yellow) of this Great Rectangle…
Wow! As if the market didn’t need another reason to rally in the ongoing uptrend, today’s better than expected Jobs Report served as the catalyst for buyers to re-enter and short-sellers to cover. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: In-depth analysis is always provided to…
The one-two punch of Mario Draghi’s ECB announcement with the Fed’s “we’re going to raise rates in December we promise!” statement contributed in part to big price moves and short-term trend reversals in all main markets we follow. Let’s take a quick snapshot of today’s Money Flow grid across six (futures) markets: Fundamental news and…
Fresh off news that the ECB will expand stimulus but NOT as much as expected, the Euro surged from a known support level. Let’s study this picture – add in the clear lengthy positive divergence to the recipe – and plot the current rally. Here’s the EURUSD Daily Chart: I recently highlighted the lengthy positive…
Stocks triggered a Bull Trap Reversal this morning as internals diverged lower from price. The result was an intraday collapse away from the key 2,100 level. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: In-depth analysis is always provided to members of the Premium Daily Reports –…
In our current environment where “bad news is good news,” Yahoo! (YHOO) gives us another example – and opportunity – to trade wacky outcomes to news. News broke that the Yahoo! corporate board will be meeting (news links via Fortune and the LA Times) to consider spinning off their internet business, arguably the core of…