Description: An analysis for the week ahead. Points of Interest: February Gap Zone; Uninspiring Upside Participation; Divergence Between Value And Price; ATH. Technical: Broad-market equity indices held onto recent gains, evidenced by the absence of directional surprise. Recapping last week’s action, on Monday, after the prior week’s action brought the...
Description: An analysis for the week ahead. Points of Interest: Prior-Balance; Weak Highs and Lows; Dull, Emotional Participation; Nasdaq Weakness; Financials Intact. Technical: Broad-market equity indices struggled to hold onto recent gains, evidenced by the failed continuation higher. Recapping last week’s action, on Monday, after a good amount of...
Description: An analysis for the week ahead. Points of Interest: S&P $3,200 Balance; February Gap; Nasdaq Weakness, Russell and Dow Strength. Technical: Broad-market equity indices balanced higher last week, evidenced by the responsive, tight trading range. Recapping last week’s action, on Monday, the S&P 500 gapped higher, outside of a prior balance...
Description: An analysis for the week ahead. Points of Interest: S&P $3,200 Balance; Multi-Week Consolidation; Close Above Mechanical Highs; Nasdaq Overextension; Financials Find Support. Technical: Broad-market equity indices balanced last week, evidenced by the responsive, tight trading range. Recapping last week’s action, on Monday, the S&P 500...
Description: An analysis for the week ahead. Points of Interest: Low-Volume Above $3,150; $3,200 Balance; Tech Overextension; Weakness In Financials, Energy. Technical: Broad-market equity indices one time framed higher last week, evidenced by the higher highs and lows on the daily time frame, and closed the week off near a resistive low-volume...
Description: An analysis for the week ahead. Points of Interest: Gap Above 78.6% Retracement; 100% Projection And VWAP Anchored From 3/23 At $2,850; Balance Below $2,975. Technical: Broad-market equity indices resolved a week-long balance area to the downside, albeit under weak selling. The S&P 500 managed to one time frame lower, as evidenced by the...
Description: An analysis for the week ahead. Points of Interest: 4-Day Island; Gap; 4-Day Balance. Technical: Mixed messages provided after equity indices broke the short-term, momentum driven uptrend, and corrected on June 11. Overall, the island of balance left behind, after the market sold-off, is still intact and will offer resistance on upward...
Description: An analysis for the week ahead. Points of Interest: 4-Day Island; Thursday Liquidation; Balance Area Below S&P 500 $2,975; Friday Corrective Action. Technical: Risk-off sentiment after equity indices erased an earlier gap that occurred on hopeful economic data. The island of balance left behind will offer resistance on any correction...
Description: An analysis for the week ahead. Points of Interest: ATH; Gap Above; Gaps and VPOCs Below; Absence Of Stronger Sellers. Technical: Risk-on sentiment in all major indices. Despite the Nasdaq-100 surpassing it’s all-time high, its moves have become more muted, signaling a rotation from the bigger technology- and innovation-driven companies to...
Low-volume areas develop when participants have directional conviction. Short term strategy is to fade those areas (short resistance, long support). When you trade into an area of low volume, then sentiment (directional conviction) has changed. Once prices penetrate this area, movement is swift. I am anticipating subsequent tests to follow through and get us to...
Description: An analysis for the week ahead. Points of Interest: 2975-2900 Balance Area; Friday Spike. Technical: Risk-on sentiment in all major indices. Monday gapped and accepted prices above the prior balance area. Tuesday’s selling diverged from breadth and broad market sentiment. Wednesday opened higher, reflecting underlying market...
Description: An analysis for the week ahead. Points of Interest: 2860-2900 Gap; 2975-2900 Balance. Technical: Nasdaq and S&P relatively strong. Russell, Dow, and NYSE are strengthening. Monday we gapped and met resistance at a low-volume area. Tuesday’s overnight broke above the high established on 4/29 and later liquidated, closing on the lows....
Description: A simplified analysis for the week ahead. Points of Interest: Monday High; Tuesday Spike, Wednesday LVNode; Thursday Low; Friday Value; Composite Profile; Balance. Technical: There is no clear direction in the market. Nasdaq relatively strong. Russell, Dow, and NYSE are weaker. On Monday, we made it into the $2950 zone of resting...
Description: A simplified analysis for the week ahead. Points of Interest: $2965 Low-Volume Area; Targets $2940, $3015; VWAP Feb ‘20 High, Mar ‘20 Low, and Dec ‘18 Low. Technical: Broad market indices, such as the Nasdaq (/NQ), have shown relative strength, trending higher and experiencing muted liquidations. The Russell (/RTY) took back the Volume...
Description: An analysis for the week ahead. Points of Interest: 4/29 Rejection; 2780 Gap; 5/1 Split b-Shape Profile. Technical: Other broad market indices, such as the Nasdaq have shown extreme relative strength in the weeks prior, with the /NQ spending a significant amount of time building value above it’s 61.8% retracement, a bullish sign. Indices...
Description: An analysis for the week ahead. Points of Interest: 2730-2845 Balance Zone; Targets 2930, 2630; CBOE:VIX at 36. Technical: Nasdaq leading to the upside, with a complete retracement of Thursday’s news-driven sell-off. Market is balancing, leveraging time to correct, rather than price. Composite profile (2/19-4/24) POC at 50%...
Description: An analysis for the week ahead. Points of Interest: 61.8% Retracement (YTD VWAP Nearby); 127.20% (2900) And 161.80% (2920) Extensions; 2790 Gap Fill. Technical: Despite terrible news, the value of the current down-move (2/19-4/17) shifted higher, as evidenced by fixed-range POC at 50% retracement. Other broad market indices, such as the...