I describe the week’s actions and discuss where we are in the market for the upcoming week.
We once again find the S&P 500 fiercely challenging the rising 200 day Simple Moving Average, a key pivot level in the ongoing bull market trend. Let’s highlight how price has behaved with respect to this key indicator going back to the start of the current bull market. Here’s the full perspective of Price and…
An update to our Weekly (and Daily) Sigma Band Chart of Apple (AAPL) reveals another tight volatility compression or “Bow Tie” Pattern. What does this mean and what can we expect once this pattern resolves? Simple – let’s take a look: For a bit of background, see my recent S&P 500 Sigma Band chart for…
You’re missing breaking news and a “Rocket Arc” Pattern collapsing price to support in China if you’re hyper-focused on news from Greece recently – which is understandable. Let’s break through the clutter and highlight this price pattern which reflects a stellar price rise and the current collapse – or “return to earth” part of the…
On the short-term frame, Gold trades within a well-defined rectangle trading range. Traders can continue playing “Ping-Pong” range-fade trades as long as price bounces between clear support and resistance levels. However, let’s pull the perspective up to the weekly frame to note just how important our current levels have become and what may be the…
One of the strongest stocks today is TripAdvisor (TRIP) which launched powerfully up from a key support level and positive divergences. Shares have already broken resistance and trade just shy of a key price target. Let’s update our chart and see this event and what levels are important to traders right now. Here’s the level…
Quite simply, what we THOUGHT was a Sideways Range was NOT actually a Sideways Trading Range. What’s changed our thinking and what does it mean about the current state of the coiled stock market? Let’s take a look: First, let’s build off an assumption that we’re challenging. I’d multiple times recently assumed that the S&P…
Disney (DIS) – one of the strongest trending names in the Dow Jones Index – reported strong earnings and revenue this morning, gapping the stock to new all-time highs. However, as soon as the new high popped, sellers crushed the stock back under the breakout level. Let’s highlight the gap, weekly trend (it’s stellar), and…
Crude Oil traded powerfully up to a known resistance target, and we’ll plan our next trade (or even series of trades) based on this key level and the new targets for the next price swing. Let’s build the case from the Monthly Chart down to the Daily Chart: While not to the same magnitude or…
India’s Bombay Sensex and “Nifty 50” Indexes are trading into critical support levels and could bounce powerfully from these key levels. Let’s highlight the Weekly and Daily Chart support levels and plan the next action – which could just as easily be a shattering of support (we’ll plan for that as well). We’ll start with…
Yesterday we updated Gold, Oil, the S&P 500, and the US Dollar Index but let’s take a slightly broader perspective and add four more commodity futures charts into the grid to get a fuller picture of money flow across the market landscape as we begin the new week. First, take a look at Monday’s “Quick-Charting…