One might describe Tuesday’s action as a “Creeping” or “Oozing” Trend Day which never really gave a clean retracement swing to enter as price bled its way to the close. Let’s look at the DIA and take a special glance at the NASDAQ’s near perfect trend channel which pushed the Index down for almost a…
Surprisingly (at least to me), the market gave us yet another trend day, though – again – it was not your classic trend day. Let’s continue to study each trend day occurrence for clues about how to trade them for maximum profit. DIA 5-minute chart: Typically, trend days follow range-bound, consolidation days – this was…
The market gave us yet another trend-style day down today, washing away most if not all bullish hopes for an extended counter-rally recovery. Let’s view the intraday charts to see what opportunities were in store for nimble and aware traders, who were able to take advantage of the trend structure today. DIA 5-minute chart: Most…
Today’s action gave us yet another “Trend Day,” but it wasn’t your typical trend day for the broader market. Let’s look at the charts and see what we can learn from the price action. DIA 5-min chart: Why was today’s action atypical of a trend day in the indexes? We lacked a large (or significant)…
After forming two seim-dojis in a row (indicating relative indecision), the market unveiled a pure trend day today, allowing quick and steady profits for those who were ready to trade it for all it was worth. How might you have traded today’s trend day? Let’s look. The odds were slightly higher that a trend day…
As I indicated earlier this morning, due to the double-doji pattern, odds favored price expansion today, with the bias being to the downside. How could you have turned that bias into profits and traded the trend day? Let’s take the S&P 500 as a proxy (you would use the SPY or the DIA … or…
With the day’s action complete, let’s look at the key points you could have added to a core position, or traded for quick scalp profits during the highly expected downswing in the market today: First, there was a prevailing bearish bias going into the day from the structure of the daily chart on the Indexes…
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…
Knowing how the market (or a stock) opens in relation to yesterday’s trading can give you a clue about what’s likely to happen for today’s trading. What are the three types of openings and what might they mean? 1. No Change This is the most typical opening, where today’s open is either equal or very…