Chartology

Nasdaq 100 (NDX) Trading Update: Topping Formation?

As mentioned in the title, the chart of the Nasdaq 100 Index (INDEXNASDAQ:.IXIC) is showing topping formations. The chart below shows overhead resistance… and how momentum is beginning to stall out for large cap tech stocks. Although pullbacks are likely to be bought, traders should use caution here.  Below is…

Russell 2000 Volatility Index Hits Record Lows: Trouble Ahead?

Small-Cap volatility expectations just smashed previous record lows. I’ve written a fair amount lately on various themes related to volatility expectations in the stock market. Many of these posts focused on the behavior of volatility expectations relative to their underlying stock market indices, including one last week on the “stand-off” between the Russell…

Stock Market Trends Weekly Update: Bulls Running

THE BIG PICTURE The broader stock market remains in an uptrend. Worries continue to linger, but the best thing to do is follow the price action and avoid anticipation due to “noise”.  If/When we enter a market correction, your process should stop you out of the trade. Without further adieu,…

U.S. Dollar Index Most Oversold Since 2008

Lots of indecision around the Dollar right now.  I’m honestly in the “I don’t know” camp when it comes to the current major trend in the US Dollar Index (CURRENCY:USD). For instance, did the dollar just finish a multi-year A B C upward correction and is it now headed for…

Apple (AAPL) Stock Chart Update: Cycles, Fibonacci, Gann

Yesterday, I shared my thoughts on where Apple’s stock (NASDAQ:AAPL) was headed next.  I used daily, weekly, and monthly charts to provide context and outlooks over different time frames. The outlook wasn’t particularly bullish for Apple (AAPL). In fact, it wouldn’t be surprising to see a correction begin soon. Read…

Why Apple’s Stock (AAPL) Is Headed For A Correction

Given today’s iPhone X launch, I thought it was a great opportunity to discuss where Apple’s stock (NASDAQ:AAPL) is right now… and where it may be headed. The following 3 charts look at Apple’s stock price on daily, weekly, and monthly time frames from a technical perspective. Apple (AAPL):  Is…

S&P 500 Futures Trading Update: Time For A Breather?

Stock Market Considerations for September 13, 2017  The S&P 500 (INDEXSP:.INX) is mixed in early trading action. After a multi-day rally, traders will want to be focused resistance levels and how price reacts around those levels. Below are key futures trading levels for the S&P 500, Nasdaq, and crude oil….

Gold / U.S. Dollar Ratio Racing To A Near-Term Peak?

Two of 2017’s major investing themes thus far are the return of Gold (NYSEARCA:GLD) and the prolonged weakness in the U.S. Dollar (CURRENCY:USD). Year-to-date, Gold is up 15.72% while the U.S. Dollar is down 9.57%.  This follows a multi-year decline in Gold and a multi-year rise in the Dollar. The…

S&P 500 Futures Trading Update For September 12

Stock market futures trading considerations for September 12, 2017  The S&P 500 (INDEXSP:.INX) is pointing higher once more on Tuesday. Traders will want to follow the support/resistance levels (and retest levels!) listed below for the S&P 500, Nasdaq, and crude oil. Check out today’s economic calendar with a full rundown of releases. And…

Crude Oil Price Outlook: Risk/Reward Favors Bears

West Texas Crude Oil (WTI) bounced up near $49/$50 last week after holding chart support in the $46 region. But that price area represents strong resistance. And it is showing today as Crude Oil and related ETFs (NYSEARCA:USO) are falling today. Crude prices remains highly volatile from day to day…