I’ve received a few requests to update the chart of Apple (AAPL) which remains trapped within a multi-month sideways trading range. Let’s take a look at the current daily chart and note the levels to watch for a breakout, along with trading strategies while price remains trapped in the range. I last updated Apple (AAPL)’s…
Are you confused as to why the S&P 500 has been trapped in a tight range the last few weeks? Perhaps a look at key long and short-term Fibonacci retracements can help – in fact, looking at the recent Fibonacci grid can give you one of those “A-Ha!” moments. Let’s take a look at the…
What can the Consumer Discretionary (XLY) and Consumer Staples (XLP) ETFs tell us about the current state of the market? For one, it can clue us in to whether investors are seeking risk – by a strong move in the XLY Consumer Discretionary (Retail) fund – or seeking to avoid risk and be defensive –…
If you’re feeling as though the market is bouncing aimlessly up and down, you might be right – but in these times, it’s often helpful to draw classic Fibonacci retracement grids to help you determine what levels the market might “ping-pong” off of. Here – let’s take a look at the dominant short-term Fibonacci retracement…
Well that was interesting – the S&P 500 so far has played ping-pong between the 200 day SMA at 1,115 and the 50 day EMA at 1,094. Let’s look closely at these two levels which have become almost exactly today’s high and low price. Today underscores the importance of watching key daily moving averages in…
It’s mid-day, and so far the S&P 500 has formed a clean – nasty – bearish engulfing candle on the daily chart – that’s a very powerful signal. Let’s take a quick look at the formation of the bar and then look what happened the last time – June – when we saw this exact…
I highlighted a dual trendline cross this weekend in Crude Oil, and so far we are seeing the downside action suggested by this big bump into overhead resistance. Let’s look at the daily and then intraday charts of Crude Oil to see the combining of two trendlines, and a new – important – price level…
It’s mid-week and time for an update on key market internals as half the week is behind us. Are market internals confirming the recent push higher? Let’s take a look. First, the S&P 500: The quick answer is “No, not really,” as seen above in the Breadth, TICK Extremes, and VOLD. All three have been…
I’ve been commenting both on the open blog and to members of the Weekly Intermarket Report of the “heavy” chart appearance in gold, as evidenced by the negative divergences and ’rounded reversal’ structure, and now we are seeing the aftermath of these bearish chart developments. Let’s take a look at the current daily and weekly…
If you haven’t been watching it closely, you may have missed the recent strong breakout in the share price of Ford Motor Company (F). Not only does the daily chart reveal a strong breakout, but the weekly chart shows a steady structure of higher prices in a comfortable uptrend that’s worth a glance. Let’s take…