I describe the week’s actions and discuss where we are in the market for the upcoming week.
With the US Stock Market closing again at all-time highs into the 1,675 target, let’s take a moment to look under the market at the Top Three Sectors (ETFs) also at new all-time highs (not all sectors are participating equally in the rally). We’ll start with a Comparison Chart of the Top Three Sectors: The…
After the collapse Thursday in the price of gold toward and then under the $1,300 support target level, let’s update our Fibonacci grid and note why this level is so important both as a target and yet another “make or break” key level on the chart. Here’s the Monthly Fibonacci Retracement Grid: I just wanted…
As we reach the halfway point of June 2013, let’s pull back the perspective on the “Big Three” US Equity Indexes (Dow Jones, SP500, and NASDAQ) to get a sense of the primary and intermediate trends along with the current reference levels for strategy and trade planning. We’ll start with the SP500 ‘Bull Market’ chart…
What are near-term and longer-term trends in money flow on the Cross-Market or Intermarket Landscape revealing about the current environment and factors to be watching currently? Let’s start with the Daily Chart or Short-Term View and then broaden our perspective going back to 2009: As I do for weekly membership reports, I’ll use the SP500…
Was the big breakout this morning in stocks a surprise or was it part of ongoing visual trends in broader money flow across the intermarket landscape? Let’s look at the charts stretching back to late 2012 to see patterns and short-term insights into cross-market money flow: As a proxy for “Money Flow,” we’re viewing the…
A member asked me about the relatively low intraday TICK readings on Friday’s big breakout above 1,600 in the SP500 and 15,000 in the Dow Jones and wondered why the TICK did not spike well above 1,000 on the opening gap and intraday breakout higher. For example, the NYSE Intraday TICK high on an ohtherwise…
Let’s take a quick look at a Fibonacci Retracement Confluence Grid (chart) for the US Dollar Index and see what levels are critical support and potential future targets for the index. The chart above shows the US Dollar Index ($DXY) on the hourly chart with five Fibonacci Retracement grids stretching from the recent closing high…
For this month’s update of the “Top Five S&P 500 Stocks Most Extended from their 200 day SMA,” we have two very popular stock names on opposite sides of the scanning results. After a stellar reversal and strong rally, Netflix (NFLX) takes the top over-extended spot while Apple (AAPL) makes its debut in the top…
As intraday or short-term traders, we often get caught up in our particular futures contracts, ETFs, or favored indexes and we can easily miss the bigger picture in related or similar indexes, especially on the larger frame. That’s the case currently for those of us (I’m guilty too) who focus most of our attention on…
With the S&P 500 recently breaking to new recovery highs above 1,474 and continuing unopposed to the initial 1,500 target, I thought it would be a good exercise to chart prior S&P 500 breakouts to new recovery highs and look at the outcome of these events. Starting with the 2011 breakout above 1,220, there have…