I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Today’s Breakdown under support officially triggers a “Bull Trap” Outcome and tilts the market to the bears. Let’s get a quick perspective on the breakdown and highlight the key levels to watch right now in the S&P 500. Here’s the Intraday Hourly Chart which zooms-in the perspective of the Trap: I stressed to members the…
I’m seeing bears celebrate today’s sell-swing but this is actually the most logical/expected outcome given the divergences and weakness into the new highs. Before the bears throw a huge party, let’s take a look at the intraday action and focus on a critical level. Our key focal point is the 2,100 “Round Number” S&P 500…
US GDP, a Federal Reserve (FOMC) announcement, a Dollar breakdown, Twitter’s (TWTR) breakdown, a V-Spike Intervention Reversal (like yesterday), and more. I can’t imagine you being bored with the market, but if you were, price once again threw us an exciting curve ball in the form of a second V-Spike Intraday Reversal amidst all the…
Today’s surprise decline in the reported US GDP was the catalyst that finally broke the US Dollar Index under support, triggering a sell signal for the Dollar and a buy signal for the Euro. Let’s update our Dollar and Euro charts and note what’s happened and where price may be heading now. First, reference last…
India’s Bombay Sensex and “Nifty 50” Indexes are trading into critical support levels and could bounce powerfully from these key levels. Let’s highlight the Weekly and Daily Chart support levels and plan the next action – which could just as easily be a shattering of support (we’ll plan for that as well). We’ll start with…
If you’re trading Yahoo! (YHOO), you may have a breakout trading opportunity shaping up as price consolidates into a visual triangle ahead of a likely breakout. Let’s study the pattern, note the breakout levels, and highlight possible targets on a successful breakout impulse play. A Triangle Trading Pattern (education link) occurs when price consolidates into…
In case you were becoming bored with the market, price threw us an exciting curve ball in the form of a V-Spike Intraday Reversal. Let’s dive inside action and note key levels and the trending stocks of the bullish day: After Monday’s failure – Bull Trap – at the highs, price collapsed toward the first…
Which stocks topped our “Steady, Stealthy Trender” Scan this week? Let’s take a look at four names that made the list and highlight something very similar about them. In no particular order, we’ll start with Electronic Arts (EA): Like the broader S&P 500, all of these four selected names are trending higher (though these stocks…
Will the clear Bearish Engulfing Candle at the highs result in a logical sell-off in stocks? Let’s chart Monday’s candle, note what accompanies it, and how to plan the week ahead. First, note the weakening bullish trend in stocks and the two sideways consolidations in 2015. February saw an impulsive breakout to new highs and…
As we transition from April into May, let’s examine what the Sector Rotation model suggests about where we are in the cycle by comparing relative strength and weakness. A second bonus of Sector Rotation is to highlight sectors that call our attention – and others that probably should be avoided. Let’s start with our Sector…