I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
The Steep Stock Market Retracement continues with a breakdown under yet another support level (2,045) into a second impulsive trend-day type environment sell-off. What levels are we focusing on now amid this large trend day? Let’s chart them: Again, please take a moment to review the prior “What Two Breadth Charts are Saying about the…
Given the negative divergences in momentum, volume, breadth, and market internals – along with the “arc” trendline distribution pattern – stocks had extremely high odds of breaking lower into a steep retracement. At the moment, that’s precisely what they’ve done this week, right on schedule (or perhaps a little overdue). Let’s update our Weekly Perspective…
Stocks continued the bearish action, breaking away from the midpoint level of 2,100 toward the 2,045 target. What levels are we focusing on now amid this large trend day? Let’s see! We have an update THIS Monday of more of the same: “Yes, We’re STILL In the Trading Range.” The S&P 500 is testing the…
How would you like to buy a stock – or ETF – that tripled in value in less than two months? Sounds impossible? It’s not – that’s exactly what triple leveraged inverse fund DWTI did recently. Shares of the ETN tripled from the $60.00 per share level to the breakout high above $180.00 today. Let’s…
Wal-Mart (WMT) continues to appear on our stock scans as a “Weak Stock Getting Weaker,” and shares gapped and broke to a new swing low in an ongoing downtrend. Let’s update our chart and note the breakdown – and where price could be headed: First, compare Wal-Mart’s ongoing downtrend and “Weak Getting Weaker” status with…
We love the concept of “Strong Stocks Getting Stronger,” and Home Depot (HD) continues to trend powerfully higher, extending its bull market with a fresh new breakout today. Let’s chart this stock and discover what opportunities may be present here for us: First, we’ll start with a daily chart to highlight the 2015 uptrend, “flag”…
The Russell 2000 Small Cap Index has shown relative weakness to the S&P 500, but the index – and the IWM ETF – are at key pivot levels traders should know. Let’s update our chart and note the bull/bear pivot point level for our trading plans: The chart above shows the Russell 2000 Index on…
The broader consolidation continued as price reversed strongly off support this morning. What levels are we focusing on now? Let’s see! First, be sure to view Monday’s “Thrilling, Non-Stop, Exciting Trading Range of 2015” for context. We have an update THIS Monday of more of the same: “Yes, We’re STILL In the Trading Range.” A…
We begin the new week at the midpoint of our broader trading range rectangle in the S&P 500. In fact, we’re seeing a short-term Triangle within a larger Rectangle – a deep consolidation. Let’s update our charts and note these new developments… within the exact same levels. First, please take a look at LAST Monday’s…
After a volatile Wednesday, stock prices settled into a welcome trading range consolidation to end the week. What levels are we focusing on now? Let’s see! First, be sure to view Monday’s “Thrilling, Non-Stop, Exciting Trading Range of 2015” for context. We’re simply seeing a continuation of this higher timeframe Trading Range structure, despite a…