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

Fed Day Emini Fibonacci Pullback Grid July 27
Wed, Jul 27, 12:11 PM ET, by Corey Rosenbloom

The Fed won’t raise rates later today at their meeting, and the market could rally ...

Triangle Midday Market Update and Stock Scan July 26
Tue, Jul 26, 4:11 PM ET, by Corey Rosenbloom

Today’s market activity was a volatile, big swing event that resulted in an intraday triangle ...

Down Goes McDonalds MCD July 26
Tue, Jul 26, 10:41 AM ET, by Corey Rosenbloom

McDonald’s (MCD) gives us another example of what can endlessly frustrate new traders. Beating earnings, ...

Same Pullback Same Emini Fibonacci Grid Plan July 25
Mon, Jul 25, 12:21 PM ET, by Corey Rosenbloom

We start the new week with clear echoes to last week. Namely, we’re still trading ...

Down Drips Crude Oil to New Swing Lows July 22
Fri, Jul 22, 2:15 PM ET, by Corey Rosenbloom

In a somewhat surprising outcome, Crude Oil dips to a new swing low at the ...

Yahoo YHOO Surprises with Bullish Breakout into Open Air
Fri, Jul 22, 12:35 PM ET, by Corey Rosenbloom

As the stock market bull continues, we continue to see stocks breakout to new highs. ...

The Raging Bull Continues Emini Grid Update July 22
Fri, Jul 22, 12:15 PM ET, by Corey Rosenbloom

Bear? What Bear? Are there any bears left in the world? Price retraced toward, then ...

Might This Be the Actual Pullback Emini Fibonacci Grid July 21
Thu, Jul 21, 2:15 PM ET, by Corey Rosenbloom

Is this our first actual pullback since the early July breakout?! Here’s today’s updated Fibonacci ...

Neverending Bull Market Breakout and Stock Scan July 20
Wed, Jul 20, 3:55 PM ET, by Corey Rosenbloom

Buyers continued to short-squeeze the market through to new all-time highs! Let’s update our levels ...

Market Cap by Sector Stock Visualization
Wed, Jul 20, 10:18 AM ET, by Corey Rosenbloom

Which stocks in which sectors have the largest (smallest?) Market Cap? Let’s take a look ...

Apple AAPL Sneaks Back to 100 Per Share
Tue, Jul 19, 11:55 AM ET, by Corey Rosenbloom

If you haven’t been watching, Apple (AAPL) quietly traded back to the $100 per share ...

July 19 Same Shallow Emini Fibonacci Retracement Grid
Tue, Jul 19, 11:46 AM ET, by Corey Rosenbloom

Until we get a deeper pullback in the market, we’ll have to turn our focus ...

New Short Term Emini Fibonacci Retracement Grid July 18
Mon, Jul 18, 12:55 PM ET, by Corey Rosenbloom

Until we get a deeper pullback in the market, we’ll have to turn our focus ...

Pullback or Another Head Fake Emini Planning Grid July 15
Fri, Jul 15, 1:55 PM ET, by Corey Rosenbloom

“Fool me once, shame on you. Fool me twice, shame on me.” That’s exactly how ...

Nonstop Bullish March Update and Stock Scan July 14
Thu, Jul 14, 3:25 PM ET, by Corey Rosenbloom

Buyers continued to short-squeeze the market through to new all-time highs! Let’s update our levels ...

Strong Stock YUM Brands Breaks to New Highs
Thu, Jul 14, 12:15 PM ET, by Corey Rosenbloom

We look for “strong stocks getting stronger” because they offer better chances of profiting from ...

Now We Can Use our New Emini Fibonacci Grid July 13
Wed, Jul 13, 2:15 PM ET, by Corey Rosenbloom

Retracement grids don’t help us when the market is breaking higher and NOT retracing! However, ...

The Top Ten Stocks Breaking with the Market to New Highs
Mon, Jul 11, 12:11 PM ET, by Corey Rosenbloom

We believe you should focus your swing trades (and longer-term investments) in “strong stocks getting ...

Extended Breakout Emini Fibonacci Grid July 11
Mon, Jul 11, 11:51 AM ET, by Corey Rosenbloom

A better than expected Jobs Report Friday and stimulus optimism set the stage for a ...

Big Jobs Breakout Market Update and Stock Scan July 8
Fri, Jul 8, 4:55 PM ET, by Corey Rosenbloom

Jobs are expanding everywhere! That’s the take-away from the stock market today to the better-than-expected ...

Good Jobs Report Extends our Emini Fibonacci Grid
Fri, Jul 8, 2:15 PM ET, by Corey Rosenbloom

A better than expected Jobs Report this morning set the stage for a breakout beyond ...

Reversal Market Update and Stock Scan of the Day July 7
Thu, Jul 7, 3:25 PM ET, by Corey Rosenbloom

We’re seeing a slight Bull Trap and continuation of our higher frame range for the ...

July 7 Short Squeeze Emini Fibonacci Level Update
Thu, Jul 7, 12:15 PM ET, by Corey Rosenbloom

Price reversed strongly off the 2,070 @ES level and now trades down from our 2,100 ...

Ten Strong Stocks Making New 52 Week Highs Today
Wed, Jul 6, 12:45 PM ET, by Corey Rosenbloom

It’s not just Amazon.com (AMZN) that’s breaking to new 52-week highs today. Let’s take a ...

Surprising New Highs in the Uptrend for Amazon AMZN
Wed, Jul 6, 11:25 AM ET, by Corey Rosenbloom

If you’re a casual observer, it might be surprising that any stock could be making ...

July 6 Volatile Range Emini Fibonacci Update
Wed, Jul 6, 11:15 AM ET, by Corey Rosenbloom

Our expected retracement continues with a break under our first Fibonacci Support Target. Here’s today’s ...

Retracing Market Update July 5 and Big Stock Scan
Tue, Jul 5, 2:51 PM ET, by Corey Rosenbloom

We’re seeing a logical sell-swing retracement in the market to a key target level. Let’s ...

July 5 Expected Emini Retracement Fibonacci Grid
Tue, Jul 5, 12:11 PM ET, by Corey Rosenbloom

With negative divergences into a resistance target, we’re seeing a logical retracement down in the ...

Make or Break Support Bounce in Goldman Sachs GS
Fri, Jul 1, 1:55 PM ET, by Corey Rosenbloom

With the Brexit chaos, shares of Goldman Sachs (GS) plunged to a critical support level ...

July 1 New Month Emini Fibonacci Grid Morning Update
Fri, Jul 1, 12:25 PM ET, by Corey Rosenbloom

Believe it or not July begins afresh today. Here’s today’s updated Fibonacci and Emini (@ES) ...

June 30 Brexit Never Happened Emini Fibonacci Update
Thu, Jun 30, 12:15 PM ET, by Corey Rosenbloom

We’re collectively waking up to a dream where the Brexit happened but in the real ...

June 29 Bullish Surge Emini Fibonacci Update
Wed, Jun 29, 12:11 PM ET, by Corey Rosenbloom

We’re nearing our 61.8% Fibonacci Target rapidly on our Emini grid. Brexit? What Brexit? Here’s ...

Bouncing Market Update and Stock Scan for June 28
Tue, Jun 28, 4:11 PM ET, by Corey Rosenbloom

What goes down must eventually come back up in the market. Yesterday we saw additional ...

June 28 Bounceback Emini Fibonacci Target Update
Tue, Jun 28, 11:41 AM ET, by Corey Rosenbloom

The Daily Chart traded all the way down to our 38.2% Fibonacci Target and bounced ...

Charting Risk On and Risk Off with Utilities XLU and Financials XLF
Mon, Jun 27, 1:11 PM ET, by Corey Rosenbloom

When we’re talking about “Risk-On” or “Risk-Off” Money Flow in the market, there’s many ways ...

Down Goes Delta DAL on Weekly Reversal
Mon, Jun 27, 11:21 AM ET, by Corey Rosenbloom

Delta Airlines (DAL) shares reversed their uptrend into a downtrend on the weekly frame as ...

Expanded Emini Fibonacci Grid after Crash June 27
Mon, Jun 27, 11:11 AM ET, by Corey Rosenbloom

The Brexit Fall-out continues in equity markets including our own S&P 500. Let’s expand our ...

Brexit Aftermath Market Update and Big Stock Scan June 24
Fri, Jun 24, 2:51 PM ET, by Corey Rosenbloom

Well that was surprising. I’ll leave the explanations for you to read elsewhere as we ...

Quick Quad Market Chart of First Brexit Reactions
Fri, Jun 24, 1:11 PM ET, by Corey Rosenbloom

If you’re like me, you’re surprised by the U.K. “Brexit” vote. ...

Even with the Brexit our Emini Fibonacci Levels Hold June 24
Fri, Jun 24, 12:51 PM ET, by Corey Rosenbloom

I think we can safely say most of us didn’t see THAT happening. By a ...

How to Use Our Daily Emini Fibonacci Planning Posts
Thu, Jun 23, 7:11 PM ET, by Corey Rosenbloom

Each morning I post a quick Fibonacci Target Grid for your reference. We use this ...

All is Saved Bullish Market Update and Stock Scan June 23
Thu, Jun 23, 3:51 PM ET, by Corey Rosenbloom

We’re all saved! The United Kingdom is expected to remain within the European Union, and ...

June 23 Bullish Breakout Emini Fibonacci Grid
Thu, Jun 23, 12:11 PM ET, by Corey Rosenbloom

With expectations that the U.K. will remain within the European Union, stock prices surged right ...

June 22 Intraday Reversal Market Update and Stock Scan
Wed, Jun 22, 1:51 PM ET, by Corey Rosenbloom

Price retested the 2,100 key level… but failed to hold it this afternoon. Let’s update ...

Breakout from Fibonacci Grid Emini Update June 22
Wed, Jun 22, 11:11 AM ET, by Corey Rosenbloom

While price bounced between our upper Fibonacci Grid Levels, this morning we’re seeing a possible ...

The Critical Support Breakdown Trading Level for GILD
Tue, Jun 21, 3:11 PM ET, by Corey Rosenbloom

If you’re trading – or thinking about trading – Gilead Sciences (GILD), take a look ...

Bouncing Between the Fibonacci Levels Emini Update June 21
Tue, Jun 21, 1:31 PM ET, by Corey Rosenbloom

Despite yesterday’s large bullish up-gap, price bounced between our Fibonacci Grid as seen below. Here’s ...

Big Bullish Surge Emini Fibonacci Level Update June 20
Mon, Jun 20, 12:11 PM ET, by Corey Rosenbloom

The bulls seized control over the weekend with a strong bullish gap up to our ...

A Gap Out and Breakdown for Google GOOGL
Fri, Jun 17, 3:11 PM ET, by Corey Rosenbloom

Google (GOOGL) shares broke to new swing lows today after a gap-down and strong sell-swing. ...

Shocking and Stellar Reversals Today in All Markets
Thu, Jun 16, 4:11 PM ET, by Corey Rosenbloom

I assume very few of us saw THAT coming! What began as strong pro-trending movements ...

  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 - 2016, 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.