I figured we might get some continued downside in the broader market today, but I’m always surprised at how swift and rapid these sell-offs actually are. Let’s take a quick look at the action so far as we near 2:30 EST in the trading day. I’ll be using one chart created ‘on the fly’ from…
The US Stock Market Indexes fell 1% today, after selling off into the close on Monday’s trading, causing price to trade at lower levels far quicker than it rose to these levels. Let’s look at the Dow for clues regarding potential structural trades you could have taken. The price began the morning with a sharp…
Today’s action was stellar both for the bulls and the bears, turning what looked like a trend day up into yet another end-of-day sell-off into the close. Let’s look at some possible trade ideas that you could have taken within this structure. I had expectations for price movement to the downside at the open, but…
The market indexes gave us another strange styled trend day today, with the market opening on the lows and closing on the highs while providing excellent retracement entry trades along the way. Let’s examine it: While traditional (or powerful) trend days begin with an opening gap, today’s price action opened very close to yesterday’s close. …
Today’s intraday action began with the promise of another trend day in the market, but ended on a terrible note, reversing the action into the close and causing a cascade off intraday highs for most stocks. Let’s peek at the action via the DIA (Dow Jones ETF): Trend days often start with an overnight gap…
Today’s US Stock Market Indexes surprised us with a semi-trend day. The day began with a perfect gap-fade and then gave us a ‘double-distribution’ trend day. Let’s look at it! In the DIA 5-minute chart, we see the day start with an opening gap that was filled and then the market trended in the direction…
So far, the US Stock Market Index trading has been stable using simple strategies that I have discussed frequently on the blog. Let’s examine the U-Turn Buy (or Saucer/Rounded Bottom) action along with the classic Gap-Fade trade today. You can almost ‘feel’ the balance shifting through simple visual inspection of the price action alone to…
I was quite impressed by the strength of the bears in swiping the US Indexes lower on Wednesday, giving the bulls only a marginal chance for any sort of retracement. I recommend saving today’s charts for the files under “strange price action” for future review. Let’s look first at the DIA: Price made its intraday…
Wow! What an interesting day it was for active traders. Yet another gap was filled and a sort of unexpected trend day emerged. Let’s look! Dow Jones ETF (DIA) 5-minutes Today opened with a sharp intraday gap down, which spent the first 10 minutes continuing downward. I prefer to wait for 3 bars (15 minutes)…
Today marked yet another opening gap that filled in the major US Stock Market Indexes. Gaps are one of my favorite opening patterns to play because they can provide a dual edge for traders. By ‘dual edge’ I mean they can provide a higher % win rate and also generate more profits when correct than…