I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Buyers won’t let the market roll-over, as proven with today’s power-buy rally off a support level. What’s going on now and what levels are important? Let’s see: In this morning’s TradeStation Morning Market briefing, I highlighted the likely price movement down toward the 2,040 level which is the rising 50 week EMA (and lower Bollinger…
With stocks testing support and threatening a possible breakdown (reversal), US Treasury prices (measured by popular bond fund TLT) are staging a possible reversal higher of its key support level. Let’s pinpoint the level, highlight the positive divergences, and plan for a possible reversal up for bonds. Here’s the Daily Chart with the Divergences at…
An update to our Weekly (and Daily) Sigma Band Chart of Apple (AAPL) reveals another tight volatility compression or “Bow Tie” Pattern. What does this mean and what can we expect once this pattern resolves? Simple – let’s take a look: For a bit of background, see my recent S&P 500 Sigma Band chart for…
You’re missing breaking news and a “Rocket Arc” Pattern collapsing price to support in China if you’re hyper-focused on news from Greece recently – which is understandable. Let’s break through the clutter and highlight this price pattern which reflects a stellar price rise and the current collapse – or “return to earth” part of the…
As we cruise into the Fourth of July holiday weekend, let’s take a moment to update our “Sigma Band Volatility” Chart of the S&P 500 and note just how far this week’s Greece news rocked the market. We update volatility using Bollinger Bands to pinpoint key levels and provide structure. Here’s the current Volatility –…
On what level should we be focusing right now in the S&P 500? Let’s zoom-in to pinpoint this current pivot level and plan accordingly: As I’ve been highlighting to members, price has been in a stable trading range between the 2,120/2,130 upper resistance and 2,080 lower support. Monday’s “Greece is falling apart again!” news triggered…
Price traded in a similar pattern to what we saw yesterday, starting strong but weakening throughout the day. What’s going on now and what levels are important? Let’s see: Compare yesterday’s early morning gap bounce with today’s gap rally into resistance. Both sessions price traded into resistance above 2,080 and then gave back the gains…
And so begins Quarter 3 2015! The reversal continued yet price struggled mid-day in a falling range environment. Let’s jump straight into our July 1st mid-day market update and stock scan. What’s going on now and what levels are important? Let’s see: Price is building off the “Rounded Reversal” and Positive Divergences off our 2,055…
“What gets weak tends to get weaker; what gets strong tends to get stronger.” Which four stocks in the US Dow Jones Industrial Average are “really weak” right now, so weak that they are downtrending and pushing to brand new 52-week lows? Let’s highlight four companies that are swimming against the broader market’s tide (and…
What goes down must come up… right? After an initial bounce in the morning, price retested the low on positive (stretched) divergences ahead of our logical snap-back rally we’re seeing mid-day. What’s going on now and what levels are important? Let’s see: Here’s a key strategy planning quote from last night’s members-only update: “…be ready…