I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Today’s session continued the selling pressure of yesterday, but the bears were less relentless. Buyers stepped in to support the market – at least twice – into the 2,040 S&P 500 pivot. Let’s update our key levels, highlight the divergence, and of course note trending stocks today: Our critical support pivot (intraday) will simply be…
The selling pressure continued today on the support breakdown under 2,070’s pivot. What resulted – logically – was a strong trend day down toward the next target just like we saw on Friday. Let’s update our key levels, highlight the divergence, and of course note trending stocks today: After a reasonable bounce up off the…
During market pullbacks, it’s often helpful to step inside the market to see which stocks are showing relative strength, or “holding their own” against the tide of selling in the broader market. Let’s pinpoint five strong stocks going toe-to-toe with the sellers – these shall warrant our attention as buy candidates when the tide of…
It’s easy to get caught up in thinking “The market will go up forever!” when in reality, the rules of gravity have not been permanently amended. What goes up must come down, and trends (even intraday ones) must eventually retrace. Divergences are great warning signs that a mature trend may soon reverse. Let’s revisit this…
Is Apple (AAPL) a buy right here at a key inflection level as news broke that Apple would replace AT&T (T) in the Dow Jones Industrial Average? Let’s take a look at this key trader level and plot the bull/bear scenarios: Just looking at the Daily Chart, Apple (AAPL) is a potential BUY for a…
Luckily, Friday’s session is exciting – certainly not boring at all! Let’s quickly chart four related strong/impulsive morning moves occurring after the US Jobs Report: Again, this is just a quick comparison – use these as springboards for additional analysis and trading opportunities. Stocks broke sharply under the 2,100 pivot and have moved lower in…
Stocks stabbed at the lows with more sharp rallies today, as we’ve seen over the last few sessions. We’re now seeing a sideways triangle consolidation at key levels with a clear pathway forward. Let’s update our key levels, highlight the divergence, and of course note trending stocks today: Note the sideways intraday triangle trapping price…
Today’s session is playing out identically to yesterday’s session, with the early down-move and the reversal off the lows. We’ll highlight yesterday’s structure and note whether we see a further repeat of the pattern… or perhaps something different (like a sell-swing into the close). We’ll update our key levels, highlight the divergence, and of course…
What looked like a possible bullish breakout devolved today into a trap as Copper buyers failed to hold the breakout level. Let’s update our chart of Copper – and ETF JJC – and plan where were go from here: Similar to Crude Oil, Copper fell through the end of 2014 and at the beginning of…
After forming a base support level, stocks rallied sharply this morning and continued a short-term sideways trading range as described in today’s update. Here’s the Structure and Planning Levels on the S&P 500 intraday: After a near-exact repeat day Friday (from Thursday’s pattern), buyers flooded the market this morning with a powerful rally that took…