Right on schedule, price rallied up from a known support target level and we have yet another Trend Day in motion. Start with this morning’s S&P 500 Support Bounce Rally post and let’s now take a look at our intraday update. Let’s jump into today’s update with an update on the S&P 500: Take a…
Despite the lengthy uptrend, the shorter-term S&P 500 has devolved into a sideways trading range with clear boundaries. Let’s take a look at these boundaries, chart the current rally, and plan the near-term future for the market. We’re using the @ES futures chart to highlight the recent trading range and the visual divergences that have…
Here we go again! The market continued its slide lower – as was widely expected – and so far is creating another trend day lower. However, not all is bearish in the market, as seen from our intraday stock scan. Let’s jump into today’s update with an update on the S&P 500: I expanded more…
Netflix (NFLX) shares face an important turning point at a key support (pivot) level. Let’s plot this level – see why it’s important – and design a trading strategy around it. Focus on the rising 20 week EMA (price so far reversed up off this level): The rising 20 week EMA rests at the $440…
With all the attention focused on the iPhone 6 this weekend, traders may be missing an iTriangle Pattern forming on the stock chart of Apple (AAPL) shares. Let’s take a look at the Classic Chart pattern, note the boundaries, and trading tactics we may use as this pattern develops. Shares continue a strong bullish uptrend…
Well this is fun, isn’t it? The market actually traded lower after many days of straight-up price action. It’s almost like the law of gravity actually applies again to the stock market! That being said, let’s take a look at our S&P 500 intraday chart, note a stunning signal from Breadth, and then chart our…
In simplest terms, a pullback or retracement is the most logical thing to expect for the US Stock Market at the moment. However, logical does not mean guaranteed. Let’s chart the S&P 500, Dow Jones, and NASDAQ to plan the possible pullback already underway: Stepping back in September, we saw a similar “overextended” rally into…
I’ve been hearing a lot of discussion about the “Death Cross” in the Russell 2000, particularly in the IWM ETF. Let’s identify what a “Death Cross” is and then test out prior performance of “Death Crosses” specifically in the IWM Russell 2000 ETF. Here’s a current chart – and we’ll step inside it all shortly:…
Perhaps not surprisingly, the stock market pushed yet again to another intraday high today as the non-stop bullish uptrend continued, yet this time we saw a quick retracement down to the rising trendline. Let’s start with our updated, uptrending S&P 500 intraday chart: A stable rising trendline pattern contains the progressive higher highs and higher…
Perhaps not surprisingly, the stock market pushed yet again to another intraday high today as the non-stop bullish uptrend continued. Let’s take a look at our current S&P 500 levels, Sector Breadth, and note the top trending stocks of the day: Yesterday’s Fed Day simply spurred additional buying pressure into the market – initially from…