While scanning the stocks in the Dow Jones Index just now, a particular move in the stock price of McDonalds caught my eye that I wanted to share. Let’s see the creeper power-up trend that gave-way to a ‘hard fall’ to a key daily support level. It’s a good example of watching support as it…
While many investors or traders have been focused on gold prices, the Silver market has actually outperformed in a big way, but it’s come into a round number resistance level that’s worth studying more. Let’s take a look at the (amazing) weekly chart of Silver, then turn to the Daily Chart for key levels to…
I’m excited to announce that I’ll be participating in an eTradingExpo Chat Session from the MoneyShow (Las Vegas Traders Expo) on Wednesday, December 8th from 12:30 – 1:00 EST (11:30am – 12:00 CST) and wanted to invite you to the interactive session. I’ll be doing a brief chat – introduction/explanation – on the Popped Stops…
Bank of America has been in the news lately, and it’s one of the major financial companies that’s underperfoming its peers in the financial sector. Let’s start with the Weekly Chart and then drill down to the Daily Chart to look at possible opportunities, levels, and lessons. BAC Weekly: If we cut through the noise…
What are current market internals – specifically Breadth and Volume Difference (of Breadth) – revealing about the current strength of the recent price push into overhead resistance? Let’s take a look and devise an “IF/THEN” scenario to plan what to do depending on what happens here at the key overhead levels. Traders often look “under…
I recently posted a Sector Rotation update wherein the strongest Sector off the September market bottom was Energy – as shown by the 25% gain in three months from the energy sector. Let’s now step deeper to look at the weekly then daily structure of XLE and note key levels to watch – along with…
With the S&P 500 batting up against new recovery highs, what does the short-term sector rotation/strength model show us? Good question! Let’s take a look at the recent move off the 1,040 level (September lows) to the present push to the 1,220 level (early December) and take note of the strongest sectors and insights from…
The recent 30-min intraday chart of Crude Oil (futures – CL) serves as a great example of how a certain type of price reversal forms, along with showing specific components that go into the short-term trend reversal process. Let’s take a moment to learn from this example and see the applicable lessons in this situation:…
The 10-year Treasury Note Yield rallied to a critical resistance level today, and the corresponding bond fund – IEF – fell to a critical support level today. Let’s take a quick look at these important levels and play the “Will it Hold or Break-through” game, with targets to take note. First, the 10-Year Treasury Note…
I’ve been making note lately about the “range” between the 1,200 level in the S&P 500 as short-term resistance and 1,175 as the short-term support. Let’s now step into the futures market – including overnight levels – to see the current structure of the compressed range and what it means for intraday traders right now….