I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
There’s a quick and easy way to chart Volatility and assess whether we’re in a low or high volatility period and what’s likely to happen next in the cycle. Price alternates between periods of High Volatility to Low Volatility and it’s important to adjust your expectations and trading strategies as necessary. Let’s see one of…
Wednesday saw a huge impulse movement for Gold into a key target. What happens if Gold breaks through the current key target resistance level? Let’s highlight our key levels and plan for the immediate future: A quick look at the Daily Chart shows a recent sideways consolidation between $1,180 and $1,220. Note the Fibonacci Retracement…
2015 so far has given us two tight range consolidations in the S&P 500 and we’re potentially nearing the end of the second coil. We’re on “Breakout Watch” where “Any Day Now” we can see a possible breakout event. Let’s highlight our key levels and plan for the inevitable future breakout: Price alternates between two…
One of my favorite intraday patterns is the bull and bear flags. How do you identify and then trade these patterns? Let’s focus just on the bull flag for this post. Why do I like this pattern? It is relatively simple to identify, only uses price (no complex indicators), and the stop-loss along with profit…
Traders frequently combine volume studies with price studies and indicators to gather a larger picture of where prices may be headed in the future. In the futures market, traders can utilize signals from Open Interest in combination with price and volume for and enhanced picture. Open interest for any futures contract, be it index, agricultural,…
CME Group (CME) offered traders a breakout buy opportunity as the strong uptrend continued. Shares now enter a “Green Zone” or “Open Air Pocket” which we can see on the Daily Chart. Let’s see the levels, opportunity, and targets available to traders now: The Daily Chart above highlights the $92.00 per share level as the…
The trading range continued which meant that today’s session was another expected bullish surge up away from support (which began Wednesday afternoon) toward the prior high target of 2,120. Believe it or not, the market is doing exactly what it should be doing, at least according to classic analysis. Here’s where we were, where we…
This morning’s Jobs Report was the catalyst that continued the rally off support as price challenged the underside of new all-time highs. Let’s take a “Triple Index” Perspective of the trend, consolidation, and key levels to highlight right now. We’ll start with the S&P 500: In January, price bounced back and forth between the 2,000…
Wal-Mart is a component in the Dow Jones Index that is facing a critical support-test of a key level. In simplest terms, traders can enter at key pivot levels as it offers a low-risk opportunity to play a movement away from a key level. In this case, WMT faces a support-shelf test where a breakdown…
Surprisingly, the market is behaving normally at least in terms of efficient movement between – toward and away from – key daily chart levels. We expected a bounce/rally up off the 2,065 target which began into yesterday’s close – the rally continued today. Here’s our Extended T3 Trend Day down for reference: Here’s a snippet…