The S&P 500 has retraced quickly to a known support target and we’ll focus on this current confluence level with great interest. Let’s highlight this level and plan a pathway if buyers fail to intervene here as they’ve done in the past (on the weekly chart). A simple plan would have us focus on the…
After a stellar intraday reversal yesterday, sellers continued their pressure today with a breakdown Trend Day. Let’s update our levels and highlight the strongest trending stocks to trade for the moment: Our key focal point yesterday was the 2,035 level from which the V-Spike Reversal developed Price traded toward the 2,060 level and now has…
What broader price levels are important for trading (or planning trades in) Tesla? Let’s chart our broader Fibonacci Confluence Grid and find out where these levels overlap for targets and entries: The chart above shows how I constructed the Fibonacci Confluence Grids. For planning, be sure to view the tighter-zoomed chart below:
Even though we’re seeing the widely expected and highly logical pullback, buyers continue to show their strength with another intraday V-Spike Reversal. Let’s update our levels and highlight the strongest trending stocks to trade for the moment: The widely (negatively) divergent market couldn’t sustain the thin-air highs any longer and retraced sharply lower toward the…
A longer-term comparison reveals the current strongest sectors and weakest sector for trade and position planning. Let’s see these weekly charts and highlight key levels to watch for additional opportunities: Depending on how you measure relative strength, you’ll find that the Financial (XLF), Technology (XLK), Staples (XLP), and Health Care (XLV) sectors all show steady…
Can this market actually go down? No. It can’t. Absolutely not. A sell swing would be silly. I’m being sarcastic of course, though it doesn’t feel far from the truth! Buyers swooped in to thrust the market higher, building on yesterday’s two V-Spike intervention reversals. Let’s update our levels and highlight the strongest trending stocks…
If you’re trading WYNN stock or considering it – or just want to learn a neat real-time lesson as price breaks lower – then take a moment to view the current trend, charts, and levels. We’ll start with the broader picture trend on the Monthly Frame: Just based on monthly closing highs, the key simple…
Can this market actually go down? It seems like the answer is no – at least not for long. Buyers swooped in once again to thrust the market higher on the hint of a possible decline in the market, using the retracement as a knee-jerk reaction to buy. Let’s update our levels and highlight the…
I wanted to support my colleague and friend Bennett McDowell of TradersCoach.com as he is offering a free market update/commentary as well as an educational webinar opportunity this Thursday. Bennett is well-known and respected in the industry – he also is the Wednesday Morning Market Briefing speaker with TradeStation (following me on Tuesday mornings). He’s…
Monday indeed was the end of the pullback and short-lived victory for the bears. Now, our strategies shift toward the “will the market break through to all-time highs or stall into resistance” logic. Let’s update our mid-day information and highlight our trending stock candidates for today’s session. The V-Spike Reversal occurred at the beginning of…