Let’s take a quick snapshot update of today’s breakdown from the Symmetrical Triangle Pattern we’ve all been watching in the S&P 500 (and SPY). Today hit the initial downside target, but what’s the bigger picture saying? Let’s start with the Hourly Breakout: Take a look at our prior updates this week from the S&P 500…
So far, the Symmetrical Triangle Pattern has held firm, containing this week’s moves into the upper and lower compressing trendlines. Let’s update the original “SPY/S&P 500 Symmetrical Triangle” post from earlier in the week with a mid-week perspective: The dominant trendlines have compressed to the 1,260 and 1,240 area (plus or minus a few index…
Oil put in a stellar upside performance from October to present, and now faces yet another “Resistance Challenge” (it’s passed the others so far) into the $100 price resistance confluence. Let’s view three timeframes of Crude Oil to see what to look for and what might come of the “Battle for $100.” The main idea…
It makes sense that the broader market would pause to catch its breath after such a stellar October performance. That’s what’s happening at the moment as the S&P 500 consolidates/pauses in a sideways/symmetrical triangle price pattern. Let’s review the pattern and the current trendline reference areas and develop a game-plan of what to do with…
The Las Vegas Trader’s Expo is quickly approaching and now is the time to plan ahead! The Expo will take place November 16th to 19th at the Bally’s/Paris Las Vegas and it will be a great time to round out the year, network with colleagues/fellow traders, and learn a wide variety of new trading strategies…
Gold fell sharply from the $1,800 resistance level, so let’s take a look at what led up to the fall and what the current structural levels to watch are for gold, including a Fibonacci Cluster near $1,730. First, the Hourly Structure: First, Gold’s Hourly (intraday) structure is in a confirmed UP-Trend as evidenced by the…
Stocks and Crude Oil performed well in October, breaking critical weekly (and of course daily) resistance levels to shift the dynamic to the buyers. Let’s start with the weekly chart of Crude Oil and focus on the key price levels to watch going forward: In the bigger picture, Oil – like stocks – benefited from…
After a stellar October, the US Equity Markets have paused briefly between two main bracket (confluence) levels. Let’s take a quick look at these levels on the daily chart and use these for trade planning: Let’s drill down to the simple levels and you can build plans from there. After triggering a terribly violent Bear…
Following up with the Inter-market charts at the beginning of November, let’s take it a step further and quantitify the levels of volatility – using Standard Deviation Bands – of the S&P 500, Gold, Oil, and US Dollar Index. Let’s start with the S&P 500 Standard Deviation Band Chart: First, a little explanation about what…
With the sharp rise in volatility in the cross-market landscape – mainly driven by Greece’s bailout then walked-back with the surprise announcement of a referendum vote – let’s take a quick look at where the current intermarket landscape resides at the moment. Click for larger image. To recap, Thursday (October 27th) gave us a positive…