I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Of the recent intermarket price swings, the most interesting development has been the ongoing slow collapse of the US Dollar Index. It’s set the stage for recent bullish rallies in both Gold and Oil – commodities priced in Dollars. Let’s see what’s happening in the intraday intermarket grid: I sandwiched the falling US Dollar Index…
The Big News yesterday was the snap-collapse of the NASDAQ and leading tech companies mid-day. The result – so far – has been a sharp drop and bounce today off the first Fibonacci Target. Here’s the NASDAQ – @NQ futures – and the new Fibonacci Grid in Play: A sudden sell swing swept the market…
After a series of new all-time highs – at which point we really can’t draw a Fibonacci Grid to target pullbacks – we ARE seeing a decent pullback today to a key “first Fibonacci” target. Here’s today’s updated Emini (@ES) trading levels for your trades: A big rally emerged on July 6th off the 2,410…
While you’re watching the big bullish breakout in Facebook (FB) this morning – along with a smaller breakout in Amazon (AMZN) – let’s pull the perspective back to the broader Technology ETF – XLK. How’s it doing? It’s doing very well, thank you very much. Yesterday saw a slightly weak breakout to new all-time price…
If you’re a big fan of technical analysis and bear flags like I am, you’ll love Ford (F) right now. We’re seeing price in a downtrend rally toward a critical resistance pivot in a Bear Flag… and then break (collapse?) beneath the trendline this morning after falling from the resistance pivot. It’s a great lesson…
Finally, we get an example of a big stock beating earnings positively and then rallying. AMD is our latest bullish “strong stock getting stronger” that broke resistance last night to trade up to the next target level, and sneak to a new high – above $15.50. What are we watching and what are the trading…
On a day that the broader stock market breaks to another new exciting all-time high, Google (GOOGL) lags behind at the moment with a sharp gap down from $1,000. Let’s pinpoint this rare stumble and see what levels are important for your trades now: At the moment, a “Double Top” price pattern formed into the…
Is THIS the actual Big Bullish Breakout for BIDU? After a nasty Bull Trap tricked traders in May, price held support in the lower rising triangle trendline, keeping the pattern in play. After three weeks (so far) in a row above the falling triangle trendline, is THIS a valid break? Let’s take a look: If…
When swing trading, we like scanning for “strong stocks getting stronger.” A simple, effective method for doing so is to identify stocks extended above their rising 200 day Simple Moving Average. Let’s highlight the Top Three Trending Stocks right now under this metric: Strongly trending stock NVIDIA (NVDA) tops our list of stocks extended (by…
General Electric continues to struggle with a breakdown to new swing lows this morning. We’ve been discussing this “Rounded Arc” pattern as seen from our July 10 post “GE Struggles with Weekly Arc Lower.” Today, we’re seeing a resolution of that arc with continued downward momentum in price. Here’s the latest developments: This morning price…