Self Directed Investor Inc
SDI: "Empowering investors with ideas and education"
Symbol Lookup »  
Topics:ChinaETFsEarningsEconomyEnergyForexGoldIncomeLessonsIdeasTrading

  • Other news: News from PR Newswire
| More

A Quick Intraday Peek Inside the SP500 at the 1300 Level

Mon, Jul 18, 1:51 PM ET, by Corey Rosenbloom

To follow-up with my prior morning post on the “Monday Morning Stock Index Update at Midpoint Value Areas,” I thought it would be helpful to show the current structure of the 1-min chart during lunchtime.

In other words, we’re all watching the “Make or Break” 1,300 region, but what is the market saying?

Let’s take a peek:

We’re seeing the plain SP500 Price Chart with the 3/10 Oscillator and the NYSE TICK (Internal).

What’s the message?

Going down in to the 1,300 level, the key indicators formed lengthy Positive Divergences into the 1,300 pivot (actually on a slight ‘nip’ or potential ‘trap’ under it).

That’s a good sign if you’re a bull who is expecting a bounce off this level, and a caution sign if you’re a bear who is expecting a big break.

As of lunchtime on Monday, we have NOT received an official breakdown sell signal. That may change into the close, but for now, the ball is on the bulls’ court and it’s their short-term game to lose.

In other words, if there were new momentum and TICK lows as the market fell intraday to 1,300, we would simply expect a firm breakdown – buyers could not stop the tide of selling.

However, what we’re seeing at this moment (which admittedly may change) is hidden strength from the buyers/bulls and a willingness to defend the 1,300 level at the moment.

Look for further confirmation intraday buy signals on a break of prior swing highs from the morning – 1,302 then 1,304 come to mind.

Otherwise, continue watching your intraday charts to see inside this critical tug-of-war between buyers and sellers at 1,300 and be ready to trade accordingly.

If the bulls give up the advantages here (from the divergences and support), it would likely trigger a feedback loop of selling pressure (bears shorting and bulls selling to stop-losses) on a firm breakdown under 1,300 and “failure test” of 1,300’s critical/obvious market support.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey's new book The Complete Trading Course (Wiley Finance) is now available!

blog.afraidtotrade.com


SDI Glossary: "Finance" Definition
SDI Glossary: "NYSE" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "TA" Definition
SDI Glossary: "TICK" Definition
This Article's Word Cloud:   Corey   Divergences   Internal   Midpoint   Monday   Price   TICK   That   Value   adsbygoogle   afraidtotrade   break   breakdown   bulls   buyers   change   come   critical   expect   expecting   firm   formed   from   give   into   intraday   level   loop   lunchtime   market   moment   morning   other   pivot   pressure   prior   seeing   selling   sign   stop   support   this   trap   under   watching   what   which   with   words   would

| More

Emini Down from the Highs Still within the Range Jan 17
Tue, Jan 17, 11:31 AM ET, by Corey Rosenbloom

In the battle for market dominance we still DON’T have a winner! Bulls? Bears? Still ...

Still Range Trading at the Highs January 13 Update
Fri, Jan 13, 1:21 PM ET, by Corey Rosenbloom

In the battle for market dominance we still DON’T have a winner! Bulls? Bears? Nada. ...

Volatility Returns to the Emini January 12
Thu, Jan 12, 1:31 PM ET, by Corey Rosenbloom

Buyers and sellers continue to struggle for dominance at the highs and right now neither ...

From the Highs Back to our First Fibonacci Level Jan 11
Wed, Jan 11, 2:11 PM ET, by Corey Rosenbloom

I always find it fascinating when price does exactly what it’s supposed to do – ...

Crude Oil Crushes Lower as Expected from Divergences
Tue, Jan 10, 6:51 PM ET, by Corey Rosenbloom

Crude Oil gives us a textbook example of a reversal pattern – with negative divergences ...

Hey Look at that Emini Range January 10
Tue, Jan 10, 3:11 PM ET, by Corey Rosenbloom

Bull Trap? Breakout? Both bulls and bears and fighting for dominance… and neither side is ...

Emini Playing Again at the Highs January 9
Mon, Jan 9, 1:41 PM ET, by Corey Rosenbloom

Monday morning may be the beginning of a “bull trap” should price remain under the ...

Through the Highs We Go January 6
Fri, Jan 6, 1:31 PM ET, by Corey Rosenbloom

Not to be outdone by this pesky sideways trading range, the stock market broke out ...

Something Strange in Sector Relative Strength Jan 5
Thu, Jan 5, 4:21 PM ET, by Corey Rosenbloom

What signal is money flow across sectors sending, and what’s strange about it? Let’s take ...

A New Emini Range at the Highs January 5
Thu, Jan 5, 2:31 PM ET, by Corey Rosenbloom

The market has a bullish beginning to 2017 but right now, we’re seeing a return ...

VIX ETPs Flash Some Green in 2016
Wed, Jan 4, 4:11 PM ET, by Bill Luby

Last year I shocked quite a few investors and media outlets with the publication of ...

Join Us Live TODAY to Plan your 2017 with Corey and Wyckoff Analytics
Wed, Jan 4, 1:21 PM ET, by Corey Rosenbloom

Let’s start 2017 on the right pathway! I’m honored to join Roman Bogomazov and Bruce ...

The Crude Oil Extraordinary Engulfing Day Jan 4
Wed, Jan 4, 12:41 PM ET, by Corey Rosenbloom

Bullish or Bearish Engulfing Candles are rare in general, but it’s even more exceptional to ...

The Emini Surge Back to the Highs January 4
Wed, Jan 4, 12:21 PM ET, by Corey Rosenbloom

Stocks surged again, continuing the 2017 rally. We saw another bounce off our Fibonacci Grid ...

Emini Still Playing through our Fibonacci Grid Jan 3
Tue, Jan 3, 2:51 PM ET, by Corey Rosenbloom

Happy New Year! Here’s to a profitable start to your 2017. Here’s today’s updated Emini ...

The 2016 VIX Futures Term Structure: Extraordinarily Average
Mon, Jan 2, 8:11 PM ET, by Bill Luby

Two days ago, in The Year in VIX and Volatility (2016), I made no mention ...

The Year in VIX and Volatility (2016)
Sat, Dec 31, 6:11 PM ET, by Bill Luby

The consensus called for a big uptick in volatility in 2016 and while there was ...

My Low Volatility Prediction for 2016: Both Idiocy and Genius
Fri, Dec 30, 2:11 PM ET, by Bill Luby

A year ago, Steve Sears of Barron'sasked me to pen a guest column for The ...

A Second Gap Collapse Day for the Emini to End 2016
Fri, Dec 30, 1:11 PM ET, by Corey Rosenbloom

As we planned from yesterday’s update, price did bounce (gap) up away from our 2,238 ...

Sears SHLD Surges from Lows Dec 29
Thu, Dec 29, 4:11 PM ET, by Corey Rosenbloom

Are you an aggressive trader who loves to call bottom reversals? Want to try your ...

Average VIX and Volatility for Last Fourteen Presidents
Thu, Dec 29, 2:31 PM ET, by Bill Luby

What kind of VIX is appropriate for the Trump Administration? For investors in general and ...

Emini Trades Down Toward and Reverses at our Fibonacci Target Dec 29
Thu, Dec 29, 2:31 PM ET, by Corey Rosenbloom

Today’s session reminds us exactly why you should bookmark our page and read our morning ...

Apple AAPL Returns to the Swing Highs Dec 28
Wed, Dec 28, 1:11 PM ET, by Corey Rosenbloom

What’s going to happen next with big trending stock Apple (AAPL)?! Let’s plot the Daily ...

Emini Fibonacci Breakdown Update December 28
Wed, Dec 28, 12:51 PM ET, by Corey Rosenbloom

Is that an actual breakdown on a holiday week? Price shattered our First Fibonacci line ...

Believe it or Not Market Breadth Remains Strong Dec 27
Tue, Dec 27, 2:51 PM ET, by Corey Rosenbloom

As we rush into 2017, let’s pause a moment to assess the health of this ...

Perfect Pullbacks and Beautiful Breakouts for NVDA
Tue, Dec 27, 12:11 PM ET, by Corey Rosenbloom

We’ve had NVIDIA (NVDA) on our trading radar for quite some time because it has ...

Emini Relentlessly Runs for the Highs Dec 27 Update
Tue, Dec 27, 11:41 AM ET, by Corey Rosenbloom

It wouldn’t be a holiday week without a bullish drift, would it? The S&P 500 ...

Join Corey and Thousands of Your Fellow Traders at the February New York Traders Expo
Fri, Dec 23, 9:21 PM ET, by Corey Rosenbloom

Start planning today! It’ll honestly be here before you know it and you don’t want ...

Look at that Beautiful Emini Fibonacci Holiday Bounce Dec 23
Fri, Dec 23, 12:51 PM ET, by Corey Rosenbloom

It’s exciting – and lucrative – when price does exactly what it is supposed to ...

GoPro Goes for a Reversal off the Lows GPRO
Thu, Dec 22, 3:21 PM ET, by Corey Rosenbloom

GoPro is an interesting stock at a critical pivot point that grabs our attention. Let’s ...

Emini Nails our First Fibonacci on Dec 22 Pullback
Thu, Dec 22, 12:11 PM ET, by Corey Rosenbloom

It’s exciting – and lucrative – when price does exactly what it is supposed to ...

Netflix NFLX Directs a Run Back toward All Time Highs
Wed, Dec 21, 12:41 PM ET, by Corey Rosenbloom

If you’re a Netflix NFLX investor, you’re pleased that share prices are making a bold ...

Emini Forming Holiday Range at the Highs Dec 20
Wed, Dec 21, 12:11 PM ET, by Corey Rosenbloom

We’re at a new bullish normal with the @ES as price settles into a short-term ...

Big Nike NKE Struggles at the Downtrend Lows
Tue, Dec 20, 11:31 AM ET, by Corey Rosenbloom

Dow Jones component Nike (NKE) has not had a very good 2016. Price peaked above ...

Emini Still Bouncing off our Fibonacci Grid Dec 20
Tue, Dec 20, 11:21 AM ET, by Corey Rosenbloom

Up, up and away! To new highs we go! Here’s today’s updated Emini (@ES) trading ...

Post Fed Day Foibles and Quad Market Price Action
Mon, Dec 19, 2:51 PM ET, by Corey Rosenbloom

As we begin the new week, let’s reflect on how markets have predictably moved AFTER ...

Playing into our Emini Fibonacci Grid Again Dec 16
Fri, Dec 16, 2:51 PM ET, by Corey Rosenbloom

The Fed still can’t stop the Fibonacci! As I highlighted in Wednesdayday’s morning update, we ...

NVIDIA NVDA Doubles to Key 100 Per Share Level
Thu, Dec 15, 1:51 PM ET, by Corey Rosenbloom

They did it!! Buyers successfully more-than doubled the share price of tech-company NVIDIA (NVDA) since ...

Another Rally off our Emini Fibonacci Grid Dec 15
Thu, Dec 15, 1:41 PM ET, by Corey Rosenbloom

The Fed can’t stop the Fibonacci! As I highlighted in yesterday’s morning update, we had ...

December Fed Day Emini Fibonacci Grid Update
Wed, Dec 14, 12:11 PM ET, by Corey Rosenbloom

Here we are! It’s Fed Day and the board is set to raise interest rates ...

Emini Defying Gravity to New Highs Dec 13 Update
Tue, Dec 13, 12:21 PM ET, by Corey Rosenbloom

After the smallest of reasonable retracements, buyers are at it again, propelling the market to ...

Like Disney DIS Exxon Mobil XOM Surges in Breakout
Mon, Dec 12, 12:11 PM ET, by Corey Rosenbloom

Like Disney (DIS) last week, Exxon-Mobil (XOM) broke resistance, triggering a powerful bullish breakout. Take ...

Pullback and Updated Emini Fibonacci Grid Dec 12
Mon, Dec 12, 11:51 AM ET, by Corey Rosenbloom

In the event price doesn’t extend another six days higher – or infinitely higher – ...

Disney DIS Surges to Key Target Price Dec 9
Fri, Dec 9, 12:31 PM ET, by Corey Rosenbloom

Media giant Disney (DIS) surged through a key resistance level at $100 and now achieved ...

Buyers Bullishly Break Emini Higher Dec 9 Update
Fri, Dec 9, 12:21 PM ET, by Corey Rosenbloom

Buyers continued their relentless campaign of accumulating stocks as the S&P 5oo broke to new ...

US Dollar Index Bounces from Our Fibonacci Target
Thu, Dec 8, 12:11 PM ET, by Corey Rosenbloom

The US Dollar Index caught a strong bullish bid this morning, surging up away from ...

Triple Stock Index Check on Breakouts to New Highs
Wed, Dec 7, 2:21 PM ET, by Corey Rosenbloom

Bullish repbalancing plus a powerful short-squeeze is boosting the US Equity Market to all-time highs ...

Dragging the Emini Fibonacci Grid to New Highs Dec 7
Wed, Dec 7, 1:11 PM ET, by Corey Rosenbloom

Buyers continued their relentless campaign of accumulating stocks as the S&P 5oo broke to new ...

Emini Keeps the Bull Market Going Dec 6 Update
Tue, Dec 6, 12:51 PM ET, by Corey Rosenbloom

Today keep the bullish pressure going – so far – on the bounce up away ...

Down Drops the Dollar on Divergences into Fibonacci Target
Mon, Dec 5, 3:41 PM ET, by Corey Rosenbloom

The S&P 500 isn’t the only market you can track using intraday charts and Fibonacci ...

  More articles:  1 2 3 4 5 6 7 next »

ABOUT US »   ADVERTISE »   CONTACT US »   TERMS OF USE & PRIVACY POLICY »

A Quick Intraday Peek Inside the SP500 at the 1300 Level | Self Directed Investor | Copyright © 2008 - 2017, All Rights Reserved

Any ideas and opinions presented in Self Directed Investor content are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All site visitors agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.

SDI is associated with: ValueForum.com -- a subscription-based online social networking forum of serious individual investors. | MarketNewsVideo.com -- videos appearing on SDI are produced by Market News Video. | TickerTech.com -- stock quote content appearing on SDI is at least 20 minutes delayed and is powered by Ticker Technologies. | GoldStockStrategist.com -- Edited by Scott V. Nystrom, PhD, Gold Stock Strategist provides analysis on gold mining companies.