The bulls charge forward, carving out a new all-time high this morning. This afternoon doesn’t look so bullish – but let’s update our chart and note what’s new. Here’s today’s updated Emini (@ES) trading levels for your trades: Bull bull bull! Breakout breakout breakout! A “Creeper Trend” emerged after July 12th’s trendline breakout. We call…
Goldman Sachs (GS) reported positive earnings that beat expectations yesterday… yet the stock fell. Shares now face a critical “Make or Break” support challenge at a key confluence level. What is it and what’s the short-term trade from here? Let’s plan it: As a long-term trader, it still frustrates me to no end to see…
After a textbook Rounded Arc formation completed in Chipotle (CMG) shares, we now see a return to the prior lows. Let’s update our charts, note the key price level, and study the pattern: A big negative momentum divergence – a “Three Push” Pattern – set in on the rally toward $500 per share. Sellers stepped…
What are market internals saying about the recent big bullish breakout to new all-time highs? Let’s take a look and listen to the message beneath the market: We listen to the message from price which is saying “I’m breaking out – I’m all new all-time highs. I’m very bullish.” Great, Mr. Market – that’s wonderful. …
If you’re only watching the US Indexes like the S&P 500, you may have missed Wednesday’s and Thursday’s bullish breakout in Emerging Markets (ETF symbol EEM). Let’s take a look and see what’s happening in this lesser-watched market: While the S&P 500 trades just beneath its all time high – and the US Dow Jones…
Apple (AAPL) shares broke Thursday above a key price level, and we’re carefully watching what happens next. Here’s the breakout and the Daily Chart levels: Buyers held support after a steep pullback (retracement) toward the $142.00 price level. Note the yellow highlight and the positive divergence – with declining sell/bear volume. That combination (in an…
We’re seeing many exciting Triangle Price Patterns develop on the pathway lower for the EURUSD FOREX pair. After two smaller triangles, a clear sideways rectangle developed with clear boundaries. Let’s study these triangles and pinpoint the key pivots for future trades: On the way down from 1.50000 to the 1.0000 level, the EURUSD formed three…
Autozone (AZO) shares experienced serious selling pressure in 2017, collapsing from the $800 level toward the current break beneath $500 per share. Let’s highlight the “Rounded Arc” Pattern – one of my favorites – and plot where we are now: A lengthy bullish uptrend sent shares trending steadily higher above $800 per share. However, negative…
We couldn’t be more excited! Let’s celebrate the New All-Time, Never-before-seen, Highs in the Dow Jones Industrial Average!!! Before we get too bullish and excited, let’s take a look at the prior three new all-time highs and update a new Fibonacci Retracement Grid: The Dow Jones carved out two prior “New All-Time Exciting Highs” before…
You’d think today would be different but it’s not – and that gives us an edge as traders. Here’s today’s updated Emini (@ES) trading levels for your trades: Believe it or not, we’re STILL within our short and intermediate term Fibonacci Grid. Still! The market hasn’t made much progress since late May as price remains…