I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Twitter (TWTR) is back in the news with a bullish breakout and a strong recent rally. There’s an important pattern in price, momentum, and volume aligning that suggest even higher price highs are more likely to come in the near-term future. Let’s see the pattern and chart the levels in the relatively new stock Twitter…
Which two country ETFs are breaking out to new highs in a continuing uptrend? And which ones – on the grid – lag behind? Let’s take a quick update on a portion of our International ETF (Country) Grid: On the selected country ETFs above, two jump out as relative strength leaders: EWL Switzerland EWJ Japan…
After the Federal Reserve dropped the “patient” language but reminded us that recent economic conditions have deteriorated, making a June hike less likely, stocks rallied sharply and short-sellers rushed to buy-back losing positions which helped propel price higher in a large short-squeeze. Today’s session has seen a logical retracement of yesterday’s big move, so let’s…
Markets today retraced part of the sudden movement following yesterday’s Federal Reserve announcement. Let’s take a quick fly-by glance at the cross-market money flow reaction, today’s retracement, and something you missed if you weren’t watching the Dollar Index last night. With the Fed dropping the word “patient” from its forecast, the Fed counteracted that hawkish…
One of my favorite breakout trading patterns is the Triangle, and GoPro (GPRO) just gave us three back-to-back-to-back intraday examples of this set-up. Let’s take a look at these patterns and learn specifically how to recognize and trade this pattern. Let’s focus on the three highlighted triangle patterns step-by-step. First, a Triangle develops when price…
With the market near all-time highs again, which sectors are the strongest and which are the weakest? Let’s update our Color Sector Strength Grid and pinpoint broader trends and current leadership: We’re seeing our Color Sector grid of the nine major AMEX Sector SPDRs (ETFs). The top six sectors are classified as “Offensive” or Aggressive…
Counting today, the last four trading sessions have reversed off clear divergences, and today’s session is just a continuation of this powerful pattern. Divergences can be extremely important in planning and trading intraday market reversals. Let’s update our key levels, highlight the divergence, and of course note trending stocks today: Review a few posts from…
Divergences can be extremely important in planning and trading intraday market reversals. Momentum and – as I documented – TICK/Internal Divergences preceded both the support-bounce rally along with today’s sharp fall (sell-swing). Let’s update our key levels, highlight the divergence, and of course note trending stocks today: First, review Wednesday’s mid-day update for a real-time…
As was suggested in yesterday’s post, stocks stabilized off support with positive divergences and today we’re seeing the logical rally-bounce higher – and it’s a big rally. Buyers stepped in to support the market – at least twice – into the 2,040 S&P 500 pivot and kept it up into today. Let’s update our key…
There have been some big moves in the Cross-Market (Intermarket) Money Flow landscape recently. Let’s take a quick fly-by look at the Cross-Market grid and note these movements closely: The four highlighted markets include the S&P 500 (@ES), Gold (@GC), Crude Oil (@CL), and the US Dollar (@DX). I’m using the continuous futures contracts for…