Weekly Commentary

Can they do it?! Can they do it? Buyers will be eager to step in to hold support at the current critical pivot for ULTA shares. What’s the pivot and what’s the swing trading play from here? Before we get to the pivot play, let’s look at the beauty of the divergence and clear reversal…

Autozone (AZO) shares experienced serious selling pressure in 2017, collapsing from the $800 level toward the current break beneath $500 per share. Let’s highlight the “Rounded Arc” Pattern – one of my favorites – and plot where we are now: A lengthy bullish uptrend sent shares trending steadily higher above $800 per share. However, negative…

Shares of General Electric (GE) sank lower today after forming a larger Weekly Arc Reversal pattern. Let’s see the pattern and pinpoint the current support/target levels for price right now: We see a long term uptrend from 2012 continue until the 2016 peak above $32.00. During the 2016 period, price stalled with a “Rounded Reversal”…

As we rush into 2017, let’s pause a moment to assess the health of  this strong price rally at the end of 2016. We know that price and the trend is strong, but what about the “guts” or internals of the market? Here they are in full bullish glory: Let’s first take a moment to…

Dow Jones component Nike (NKE) has not had a very good 2016. Price peaked above $66.00 per share at the end of 2015 and share prices currently trade at the $50.00 level. Let’s highlight the downtrend in motion and set up the next swing trade for this stock, one of the weakest in the Dow…

As we begin the new week, let’s reflect on how markets have predictably moved AFTER last week’s expected Fed Interest Rate hike. Let’s view our quick Quad-Market Money Flow Grid: First, let’s state the obvious:  markets widely expected the Fed to boost interest rates 0.25% which is what happened. Higher interest rates inherently are… BULLISH…

If you don’t actively follow commodities, you may have missed the severity of the ongoing “commodity creep” or “commodity collapse” which has taken the broader CRB Index to a startling location. Let’s begin our perspective with the Monthly Chart: The Thompson Reuters/Jefferies Commodity Research Board CRB Index is a measure of 19 commodities, though Oil/Petroleum…

The “Distribution Arc” pattern I highlighted at the beginning of January has indeed played out to the full target levels. What now? Let’s quickly update our key levels on the weekly chart of the S&P 500, Dow Jones, and NASDAQ at the midpoint of January 2016. Here’s the S&P 500: First, take a moment to…

Friday, we discussed a “Weekly Chart Perspective of the Retracement” so let’s take a moment to start Monday with an even larger perspective of where we’ve fallen and – more importantly – where price has traveled during the 2008 market crash and 2009 to present recovery period. Given the negative divergences in momentum, volume, breadth,…

Given the negative divergences in momentum, volume, breadth, and market internals – along with the “arc” trendline distribution pattern – stocks had extremely high odds of breaking lower into a steep retracement. At the moment, that’s precisely what they’ve done this week, right on schedule (or perhaps a little overdue). Let’s update our Weekly Perspective…