Have you seen the triangle pattern that’s been forming over the last few days in the S&P 500 or SPY? If not, let’s take a few chart glances at the pattern, explain what it means, and what we can expect in the week ahead from the pattern. First, the pure price glimpse at the ascending…
If you’re watching or trading the Euro, there’s a key level right here that you need to watch closely to see what the outcome of this important test is. What is that boundary? Let’s look first at the Euro Index ($XEU) and then note the same level in the respective Euro ETF: FXE The chart…
A lot of traders have been puzzled lately by the strength in homebuilder stocks in the face of some of the worst economic data that just came out about the housing market. Remember, the stock market is (generally) a leading indicator of economic activity so perhaps the poor news was already “baked into” the price…
While most traders pay much more attention to gold, silver is trying to vie for their attention currently. While gold rallied into a known resistance area recently, silver quietly broke to new recovery – and new 52-week highs. The question now remains – is the breakout real or just a trap? Let’s start with the…
This morning, we saw price pause and decline from the 1,100 level in the S&P 500. Let’s take a closer look at that level to see its significance, and the other key reference price levels to watch that have more importance. S&P 500 “Pure Price” Daily Chart: Let’s start first with the horizontal (highlighted) line…
Did you see the strength in Deere & Co (DE) last week? If you missed it, here’s a closer look and what it might mean for the bigger picture if the stock breaks above key resistance to new recovery highs. The chart above shows the Daily Structure and recent strength in DE – specifically last…
The markets for some reason are much more sensitive to pattern repetition lately – so that begs the question: “Will the current rally pattern continue?” Oh – first, let’s define the rally pattern and then see what the current ‘pattern completion’ and target is. Officially, we’re in a sideways trading range that began in June…
What are market internals saying about the recent rally? They strengthened with a positive divergence ahead of this week’s rally but now…. Let’s take a quick look at S&P 500 Market Internals as they stand now: First, let’s start with the positive divergence signal sent on August 31st from Market Internals. As I show frequently,…
It’s often helpful to pull the timeframe back to see what the weekly and sometimes monthly chart are showing about popular or volatile stocks. That’s especially the case right now in Google (GOOG). Have you seen its monthly chart lately? Let’s take a quick look: A quick glance shows us a double chart confluence at…
It’s the same price pattern I’ve been highlighting for quite some time now, but perhaps now is a good time to define the pattern, show it, and state what it means for traders. Reference my prior post: “Magic Mystery Buyers in the S&P 500 Define Bull/Bear Battle.” First, the pattern: A lot of people are…