I describe the week’s actions and discuss where we are in the market for the upcoming week.
India’s “Nifty 50” Stock Index currently faces a key inflection support level at the 4,800 level. Let’s take a quick look at the Index and plan for potential action at this visual chart level. First, let’s see the Confluence Support Line that develops from the Weekly Chart: Again, a quick glance shows the 4,800 Index…
Which stocks are most over or under-extended from their 200 day simple moving average? Let’s take a look at the current scan results and the opportunities these stocks may present. First, here are the most ‘bullishly over-extended’ stocks in the S&P 500: This scan returns the percentage distance above or below the 200 day Simple…
Wednesday’s Federal Reserve announcement and Press Conference shook the cross-market landscape in a somewhat expected pattern. Let’s take a look at the intraday ‘spiky’ movements and then assess the broader Daily Chart levels in the S&P 500, Oil, Gold, and the US Dollar Index. Here’s the inter-connected intraday picture: (Click for full-size image) We’re seeing…
The week so far has already been active in both directions between short-term EMA support and resistance levels. Let’s take a look at the market action – and chart structure – as the mid-week approaches. What price levels are most important to suggest trading strategies from here? Let’s start with the S&P 500: For reference,…
The gold market has been in a deeper retracement than many traders expected, and now price challenges a critical support level as seen from all three major timeframes. Let’s start with the Monthly Frame and then drill down to the Daily Chart to pinpoint this critical level we’ll all be watching: Instead of going into…
Even if we follow the Daily Charts for short-term swing or intraday trades, it’s helpful from time to time to assess the structure – and especially key levels – of the weekly charts of the ‘big three’ US Stock Market Indexes. Let’s see what these higher timeframe charts are now saying about the broader stock…
As a follow-up to yesterday’s “Bullish Sector Rotation Model” post, let’s take a moment to clarify how investors and traders can use top-level Sector Rotation themes to their advantage. Traders and investors often use the model – or at least compare sector relative performance – to pinpoint trading or investing opportunities from the strongest stocks…
While the NASDAQ recently crested above both its 2011 and 2007 (before the recession) high, the Russell 2000 – an index mainly of small-cap stocks – struggles to overcome its key long-term resistance level. Let’s build the charts and view the key level to watch – for both long-term and short-term planning – in the…
TLT is a popular proxy for traders and investors to watch for bond prices, or to use as a hedging or trading vehicle. Let’s take a look at the recent “Rounded Reversal Arc” in price which now challenges its first potential support target on this week’s recent breakdown. Here’s the Daily Chart “Arc” Pattern into…
Despite its recent drop, Silver current rests above a key confluence support price level. Let’s identify this level and develop a game-plan for whether this support level holds… or fails. Here’s the Weekly Structure with a Fibonacci Grid: Silver developed a downtrend after spiking into the $50.00 per ounce area. Since then, price has been…