Daily Commentary

Stocks tested their lows as an ongoing consolidation (range) environment continues. What levels are we focusing on now? Let’s see! For the S&P 500, buyers have supported the market into the 2,088 reference level. Monday and now Tuesday saw strong rallies up off this key short-term trading level. For now, price continues to trade in…

Apple (AAPL) shares entered distribution mode with a breakdown under support and the 200 day SMA. What’s happening now and what downside support levels are valid targets? Let’s start with a zoomed-in Daily Chart view of Apple (AAPL): First, start with a prior update from July appropriately titled “Apple Breaking Down – New Price Level…

Is a reversal developing in the stock market? Let’s listen to the message from two charts of stock market breadth. We’ll start with the Percentage of Stocks above Key Moving Averages: The chart above shows the Daily S&P 500 Index with two indicators: The percentage of stocks (in the S&P 500) above their 50 day…

Though buyers attempted a bounce-rally up off 2,100’s key support level, they failed as the market dropped sharply to a new swing low. What levels are we focusing on now? Let’s see! For now, we continue to focus on two simple levels: Though buyers had an opportunity to enter and bounce price higher Friday, they…

Short term traders benefit from taking a moment to view the larger picture of ongoing trends. There’s a clear trend – and clear levels to watch – in the S&P 500 during the ongoing bull market. Let’s update our “Parallel Trendline Channel” Structure and note what levels are important here. First, here’s the broader picture…

Buyers bought a downside swing this morning, resulting in a price swing back to the 2,110 resistance level. What levels are we focusing on now?  Let’s see! For now, we continue to focus on two simple levels: 2,100 (Round Number) and 2,110 (Prior High). Note the negative divergences building at the 2,110 level. For short-term…

Is this the spot to buy Facebook (FB) shares? Let’s update our daily chart levels, note a key confluence, and plan trades from the current swing. Facebook (FB) shares are trending higher as evidenced by price (higher highs and higher lows) and a rising moving average slope. Following the trend, we tend to look for…

As we head into today’s Federal Reserve announcement, let’s quickly update our key levels on the “big three” US Stock Market indexes. We’ll start with the S&P 500 with clear level planning: Price once again rallied strongly away from the 2,065 target which is the rising 200 day SMA. The initial target – achieved in…

Stocks continued their sell-off toward lower support targets, and that’s where we begin today’s update. Let’s get right to it! Here’s a game-planning quote from last night’s member update: “For now, unless buyers can push the market up off the 2,070 @ES pivot as drawn (2,080 SPX), then we’re going to keep aggressively playing the…

After a price surge and gap higher, Netflix (NFLX) shares are retracing in an ongoing uptrend. For traders, there’s a clear price level to watch for clues to the future action – and opportunities. Let’s pinpoint this level and update our price targets for Netflix (NFLX): We’re seeing the 30-min Intraday Chart above with two…