Chipotle (CMG) offers plenty of lessons of pro-trend trading tactics such as retracement and breakout trades in a strongly trending stock. Let’s start with the Weekly Chart and study the lessons and current activity in this strongly trending popular stock. The main concept I wanted to highlight is the “persistence of rally” or sustained uptrend…
With the recent breakout to new highs, the market is experiencing above average volume during the upswing which serves as a confirmation of the rally in motion. Let’s take a look at other phases during the broader S&P 500 market rally for similar periods of increasing volume during bullish phases. The chart above – created…
India’s “Nifty 50” and Bombay Stock Exchange/Sensex broke to new highs recently along with the US Equity Indexes. Let’s take a broader perspective beyond the daily charts to a Weekly “V-Spike” trendline channel and a larger Ascending Triangle Pattern on the Monthly Chart. We’ll start with a comparison of the Monthly Charts: Using StockCharts data,…
Which stocks have closed the most days to the upside for the prior few weeks and also days? How might we trade these stocks? Let’s take a look at the “Most Consecutive Closes to the Upside,” starting with the Weekly Chart Scan: Using TradeStation data and screener, we find the following stocks have closed 8,…
Which sectors are on the move at the moment while the indexes break to new all-time highs and which are lagging behind? Let’s update our Sector Rotation or Sector Strength charts and see for ourselves! Using StockCharts data, we see the nine major AMEX Sector ETFs displayed in order of the Sector Rotation Model (from…
Not to be outdone by Google’s breakout above $1,000 per share this morning, Amazon (AMZN) shares also broke to all-time highs this morning to continue the persistent uptrending action already in motion. Let’s start with the Weekly Trend Structure and then move to the current daily breakout: One of the foundational principles of technical analysis…
In our last update of Google (GOOG), we noted the “Sideways Range and Key Levels for Trading Google,” and we now note the upside breakout of the trading range not just to new all-time highs, but beyond the $1,000 per share reference level which is sure to generate headlines. Let’s update the Google chart with…
With equity markets continuing to focus on headline news from the US Capitol (is there a deal or not?), let’s take a broader look at the Dow Jones, S&P 500, NASDAQ, and Russell 2000 equity indexes and note relative strength and weakness within the context of rising parallel trendlines. We’ll start with the S&P 500…
In conjunction with this morning’s post regarding the midpoint of a Linear Regression line currently intersecting the 1,715 index level, let’s also take a look inside the market at the “guts” or Big Three Market Internals which are flashing a caution signal after three days of intense upside price action. A quick view of the…
In the previous update about the “Trendline and Target Planning for the SP500,” we noted the index was at a critical inflection point and likely to reverse higher off the confluence support target to continue the lengthy uptrend in progress. I think we can all say that the market successful achieved its “support-bounce” goal better…