I describe the week’s actions and discuss where we are in the market for the upcoming week.
The three major US Equity Indexes have been precariously straddling initial support levels, and as we start this May 23rd week, all three indexes gapped down under these initial levels. Let’s take a “Triple Index” overview of the current structures with regard to the “Barrier” levels to watch and then future “Points of No Return.”…
What does the Sector Rotation Model reveal about the current market situation? Money appears to be flowing into Defensive Sectors and in part away from Offensive Sectors, which is a clear “Caution” or warning sign for the market at the moment. Let’s take a look at Sector Performance Year-to-Date: I break down the nine Sector…
We’ve seen huge volaitlity this week in silver, but what about the broader basket of commodities as seen in the CRB Commodity Index? There’s actually a critical overhead resistance level to watch, and the daily chart is showing caution signals at that level. Let’s start with the weekly Fibonacci Level and go from there: The…
What does the concept of angular momentum say about the current strong rallies on the daily chart of the S&P 500? Let’s take a look at both the angle of momentum and price distance traveled since the 2010 bottom: Click for full-size post. What we have above is a daily chart of the S&P 500…
If you’re focusing all of your attention on either the S&P 500 or the Dow Jones Index, there’s a major headline you might be missing: The Russell 2000 Broke to New Lifetime Highs while the NASDAQ Index Broke to New Recovery Highs. The Russell 2000 is comprised mostly of Small-Cap Companies while the NASDAQ is…
A lot of traders have been correctly focusing on the skyrocketing rise in Silver prices, but let’s look at the chart from a different angle. The Gold to Silver relationship (a relative strength measure) just hit new lows this week and that’s a very big deal. Let’s take a look at the last 30 years…
I’ve received a few requests to update current analysis on India’s “Nifty 50” index, and indeed after a big recent rally, the index is at an interesting confluence target level traders should watch very closely in the days ahead. Let’s start with the weekly chart and drop-down to focus on the confluence: Without getting into…
A lot of us intraday traders hyper-focus on the intraday charts and might come to one conclusion, but if we pull the perspective back to the higher timeframes, we might have an “A-ha” moment and see the broader picture that the intraday charts can’t reveal. Namely, the Russell 2000 just touched all-time highs, the NASDAQ…
I’ve heard a lot of chatter about Copper prices and a potential reversal lately, so let’s take a quick look at simple trend structure and levels to watch on both the important weekly and daily chart frames. First, the Weekly Chart gives the bigger perspective: First of all, when quantifying trend on the weekly chart,…
There are two main facts to know about the current chart structure for the four main US Stock Market indexes: First, ALL indexes have broken above a critical trendline and the 20/50 day EMAs Second, Volume has declined steadily as price rallied above these key levels. Let’s see how these two facts played out in…