Daily Commentary

Yesterday I charted two strong financial Dow Jones stocks for you – Goldman Sachs and JP Morgan. Today, let’s switch gears and highlight three weak – and getting weaker – stocks in downtrends for comparison. Three of the weakest (most dowtrending) names include one large retailer and two oil/energy companies. Let’s start with the weak…

Bond prices are breaking down sharply this morning as yields spike. Let’s chart this logical movement, note key levels on which to focus, and add some context to today’s move. We’ll start with the Daily Chart of popular bond fund TLT: First, the TLT Exchange Traded Fund represents the longer-term US Treasury Bond Fund from…

Were you eager for a bearish breakdown in the market today?  Bulls had other plans again! Despite everything, BULLS still rule this market and that’s the current reality – fighting it has been futile. Let’s take a look at the current picture and plan the next swing in the market: Buyers swooped in once again…

LinkedIn (LNKD) just triggered a “Turbo Breakout” Impulse Buy set-up and we’re seeing additional upside action propel price higher. Let’s see the intraday breakout and power-surge, along with the Reversal Arc we’re seeing on the Daily Chart. Here’s the Intraday Arc Reversal – and Turbo Breakout – in LinkedIn (LNKD): First, LinkedIn just topped the…

Leading Financial stocks JP Morgan (JPM) and Goldman Sachs (GS) topped the list of “Strong Dow Jones Stocks Getting Stronger” last night. Let’s do a quick update and plan what opportunities are in store for trading these big names. Goldman Sachs Daily Chart (GS): After the January sell-swing ended into the $172.50 level, buyers propelled…

If you’ve been watching the Transports, you’re seeing a Rounded Reversal and bearish breakdown. However, you’re not seeing a similar picture in the Dow Jones Industrial Index. Let’s chart the arc and make some sense of what’s happening at the moment: I’m a big fan of “Rounded Reversals” or “Arc Trendlines” in price because they…

Dish Network (DISH) topped our “Bullish Intraday Trending” Stock Scan this morning. Let’s take a look at the bullish breakout – a reversal play – and what levels are most important for traders. Here’s Your Daily DISH: First, let’s start with the March to May downswing from $80.00 to $65.00 per share. This sell-swing ended…

Stocks continued a sideways range, though we’re just now seeing a potential bullish breakout. Let’s take a look at the current picture and plan the next swing in the market: Price initially continued the intraday downtrend (falling trendline channel) but reversed up off another positive divergence at the session low. From there, we saw a…

Today’s session allowed for stable range trading with divergences into the reversal high and low.  It’s a great example so be sure to use it as a reference. Let’s take a look at the current picture and plan the next step: If you’re a fan of trading divergences and intraday reversals, today was the session…