I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
On Friday and today’s bullish session, four stocks in the Dow Jones Industrial Index of big blue chip stocks made new 52-week highs in a strong and persistent uptrend. What are they and what do their uptrends look like right now? Let’s see them and plan our next move: From the screenner in FinViz, we…
Greece is saved! For the one hundredth time. And stocks boosted higher off the open as a result! Nevertheless, here we are as we start a fresh new trading week near all-time highs. What’s going on now and what levels are important? Let’s see: Positive news on Greece (which can change just as quickly with…
After two solid up-sessions, price pulled back in a retracement from resistance today. What’s going on now and what levels are important now? Let’s see: Price “Short-Squeezed” its way up to the 2,125 target yesterday and is now retracing down away from this level on negative divergences. At the moment, we’re focusing our attention on…
Post-Fed Day! Buyers were happy with the Federal Reserve’s statement and thus boosted the market straight up, achieving targets along the way. The uptrend continues and bullish money flow is once again the driver of the market (in a short-squeeze). What levels are important now above 2,100? Let’s see them! Logically speaking, 2,100 is our…
We’re seeing a number of stocks build similar patterns but I wanted to highlight Harley Davidson as a great example of a stock building a base ahead of a rally on positive divergences. Let’s note the example and then plan possible targets now that buyers have revved up this stock from support. Here’s the Weekly…
You certainly don’t see patterns like this every day! Lesser-known stock DS Health Care (DSKX) just jumped to the top of one of my stock scan lists and I wanted to highlight the sweeping “Parabolic Arc” which is one of my favorite broader price patterns. Here’s the “Pure Arc” – we’ll delve into specifics on…
Yesterday’s Fed Announcement that interest rates will likely remain unchanged through most – if not all – of 2015 sent markets moving in expected directions. A “Risk On” environment altered the intermarket landscape as was logical from the news. Let’s chart the quad-market grid and note these knee-jerk reactions: With the Fed remaining on hold,…
One of the strongest stocks today is TripAdvisor (TRIP) which launched powerfully up from a key support level and positive divergences. Shares have already broken resistance and trade just shy of a key price target. Let’s update our chart and see this event and what levels are important to traders right now. Here’s the level…
Fed Day! Today we’re trading in a news-driven volatile environment as the Fed releases its forecasts. We’re seeing the typical “Fed Day” pattern so let’s update our charts and be ready to react. What levels are important now into 2,100? Let’s see! Logically speaking, 2,100 is our simple “Key Pivot” reference level and we’ll use…
The Federal Reserve announcement and press conference today could be a catalyst for a breakout of the current trading range in the stock market. Otherwise, we’ll continue to note these reference levels, targets, support and resistance zones into our planning of the next few trading session. Let’s highlight these levels and targets first on the…