I describe the week’s actions and discuss where we are in the market for the upcoming week.
As we turn the corner into 2013, there are four main AMEX Sector SPDR ETFs that have exceeded and trade well above their 2007 “Bull Market” high. Two ETFs are in the “Offensive” Sector while the other two are in the “Defensive” Sector, which makes an interesting situation. Let’s take a quick overview of these…
After some volatile action, Apple (AAPL) prices have settled within a short-term trading range or descending triangle pattern. Specifically, prices have bounced between a key support level and falling daily EMAs. Let’s update our current Apple charts and note these short-term levels along with the Weekly Chart Fibonacci and potential targets should Apple break free…
With Election Day Tuesday and the market at a pivot point that determines how we play the next swing, I thought it would be a good opportunity to look at the outcome going toward December of the past three US Presidential Elections. Let’s start with the outcome of 2000 and move forward to today’s structure:…
Is the market setting up for another period of high volatility? Let’s take a look at three price-based volatility indicators and see what they suggest about the current S&P 500. The chart above shows the Daily S&P 500 with the following price-based volatility indicators: ATR (Average True Range) which measures the daily high-low range, Bollinger…
We’re seeing a bit of price pattern repetition in Apple’ s (AAPL) stock chart so let’s take a quick look at the recent and current retracements to see what levels to watch at the moment. First, here’s the broader Weekly Chart picture of the ongoing trend: After a stellar rally and breakout above the $425…
If you are an intraday trader and use the NYSE (or related) TICK indicator in your trading decisions, it’s very important to calibrate important TICK Levels with respect to volatility. In simple terms, a TICK Value of 1,000 means different things during periods of high or low broad market volatility, and you can easily make…
What does the intermarket picture show in terms of current money flow to Risk-On or Risk-Off Markets? Let’s take a quick look as we end September 2012 and the third quarter: The chart above shows three “Risk-On” Markets (Stocks, Gold, and Crude Oil) juxtaposed with two “Risk-Off” Markets (10-Year Treasury Note Price and the US…
I think a lot of traders were surprised with the sharp sell-off last week in Crude Oil from the $100 resistance level. Let’s take a look at the weekly and daily chart to learn the key levels to watch and what structure suggests about potential opportunities in the near future. First, we have the Weekly…
Let’s take a moment to update the current Sector Rotation chart to see which sectors may require our trading attention, and what the broader money flow suggests. Here’s the broader perspective of performance year-to-date: From StockCharts, we see the AMEX Sector SPDR ETFs with respect to absolute performance from January to present (mid-September 2012). We…
We’ve been anticipating a breakout in gold prices, and the last few weeks have delivered the likely upside break into the initial target. Let’s update the Daily and Weekly chart and note the key level that price may be breaking again to the upside. Here’s the bigger picture Weekly Update: On the Weekly Structure, price…