Popular stock Apple (AAPL) now faces a key “make or break” confluence level on both the daily and weekly chart that traders will find very interesting. Let’s start with the weekly chart and drill-down to find the important confluence level and thus the “IF/THEN” trading set-ups that are likely to come into play. Cutting right…
I’ve received a few requests to update current analysis on India’s “Nifty 50” index, and indeed after a big recent rally, the index is at an interesting confluence target level traders should watch very closely in the days ahead. Let’s start with the weekly chart and drop-down to focus on the confluence: Without getting into…
I’m overdue for an intraday trading lesson! Today gave us a great example of how to set-up, forecast, and trade a classic “Dead Cat Bounce” set-up on the intraday charts from a surprise or ‘shock’ move that created a large impulse move. Let’s take a moment and learn this lesson step-by-step, keeping in mind that…
Picking up on yesterday’s theme of “Higher Timeframe Perspectives,” let’s take a look at the larger structure of silver and learn a few lessons in commodity price breakouts which can travel higher than many traders think they can. Let’s start with the big monthly frame of Silver Prices: Keep in mind that silver prices are…
A lot of us intraday traders hyper-focus on the intraday charts and might come to one conclusion, but if we pull the perspective back to the higher timeframes, we might have an “A-ha” moment and see the broader picture that the intraday charts can’t reveal. Namely, the Russell 2000 just touched all-time highs, the NASDAQ…
As of this moment, Gold and GLD are threatening another poke-out to new lifetime highs this morning, so let’s zoom-in to the daily chart and see the current chart picture and current levels to watch for positioning. GLD Daily: Getting straight to the point, there is a clean horizontal band of lower support in the…
What do current market internals say about the stock market as we teeter at new recovery highs? Let’s take a quick look at the current multi-day structure and signals: Don’t panic when you see this chart – let’s take it step-by-step. First, we see the S&P 500 Index and the current stair-step rally from the…
It’s back – and you’d be surprised at how few changes there were in the Top Three Extended Stocks from their 200 day SMA. I originally posted a similar screen on March 21st and – surprise – there few changes to the top listing via the FinViz stock screener. Let’s take a look at the…
It seems all traders seek to answer the same question: “When is this market likely to reverse?” Newer traders tend to love “reversal” style strategies, wanting to enter as close as possible to a trend reversal in order to have the tightest stop and biggest target possible. While no strategy can call a top or…
I strongly advocate “thinking in themes” rather than indicators and keeping your focus as much as possible on price structure. Namely, you want to know “what is price doing and how effectively is it doing in?” Here – let’s look at the current SPY intraday world to pick up on a theme that you may…