I describe the week’s actions and discuss where we are in the market for the upcoming week.
Gold recently broke from its larger Symmetrical Triangle daily chart pattern, but the S&P 500 (Stock Market) hasn’t followed suit yet. Let’s update the current “Bigger Picture” Triangle Price Pattern, note key boundaries, and what to expect next. First, the S&P 500 standard Daily Chart: A Symmetrical Triangle Price Pattern – or any major consolidation/compression…
Not to be outdone by the recent S&P 500 triangle pattern, Gold is forming a broader Symmetrical Triangle Consolidation Pattern that we’re following closely for any sign of a breakout from the converging trendlines. Let’s look at this situation from two perspectives, starting with the “pure price” intraday level: When discussing a Symmetrical Triangle, it’s…
Stocks and Crude Oil performed well in October, breaking critical weekly (and of course daily) resistance levels to shift the dynamic to the buyers. Let’s start with the weekly chart of Crude Oil and focus on the key price levels to watch going forward: In the bigger picture, Oil – like stocks – benefited from…
Following up with the Inter-market charts at the beginning of November, let’s take it a step further and quantitify the levels of volatility – using Standard Deviation Bands – of the S&P 500, Gold, Oil, and US Dollar Index. Let’s start with the S&P 500 Standard Deviation Band Chart: First, a little explanation about what…
We’ve been seeing copper in the news lately, mainly with its recent breakdown and consolidation off a key support level. Let’s take a look at the weekly frame then drill-down to daily chart levels to watch in both Copper and the related ETF JJC. First, the Weekly Chart of Copper: A quick glance of the…
What is the broader Sector Rotation Model saying about the current state of the stock market? Let’s take a look from two perspectives: January to October (year to date) and then from the May 2011 peak to present. First, the longer-term year-to-date Sector (ETF) performance: Before we look at the current picture, feel free to…
With the US Equity Market sitting currently atop a longer-term Fibonacci cluster level, let’s take a look at the Dow Jones, NASDAQ, and S&P 500 in terms of their recent “Bear Market” and “Bull Market” Fibonacci retracement levels for reference. Let’s start first with the S&P 500: Click each chart for a full-size image –…
With markets in a turbulent/volatile phase on the lower frames, it can be very helpful to slow the pace down by pulling up to a higher timeframe. Let’s take a look at two major Fibonacci Cluster levels that help us make sense of the current S&P 500 index activity: Starting with the larger – red…
What levels are we watching for set-ups/game-plans in the triple US Equity indexes – Dow, S&P 500, and NASDAQ? Let’s get a quick check-up on these levels and current market structure as we start the week: I’ll focus the majority of the description of structure on the S&P 500 as the picture is almost identical…
News of Greece’s debt and European contagion again dominated the headlines on Friday. The Euro broke major confluence chart support and is currently in free-fall… but what is the current structure saying and what are the current levels to watch as a reference? Let’s take a look, starting with the Weekly Frame: What we’re seeing…