Page 3 - Stop Step News Today

Most users and readers that see or use Mr. Top Step’s Market Imbalance Meter — what we call the “MiM” — tend to use it near the open and the close. However, it can also be used for playing a month-end rotation.  Generally, the MiM is used for finding the overall market’s daily imbalance. That is, which way the orders are leaning as we near the close. Is the market “big to sell?” Will there be “a big flip to buy in the final 10 minutes?” The MiM was an important tool for tra...

Chart courtesy of TradingView.com In looking at the weekly chart, I see five consecutive weeks of decline, followed by a doji-ish hold of the 50-week moving average.  That comes after three consecutive weeks of declining volume and a little bit of divergence on the Williams %R reading. Does that guarantee a bounce is coming?  Of course not.  While there are signs of a possible bounce, we need confirmation and that comes through rotation.  What I would love to see here is a rotation over las...

As Danny Riley will note in this morning’s Opening Print, Wednesday’s price action was tough. Trading the S&P 500 or its futures contract was not an easy task. The latter shed 2.1% in the session, dropping more than 87 points.  The Dow didn’t fare much better. The futures contract dumped 675 points, falling 1.97% on the day. That followed Tuesday’s session, where the index fell 485 points and after it made new all-time highs on Monday.  The undercurrents in the market have been tough,...

So many times people wonder why they should be subscribed to a trading or investing service. They want to know what the ROI is. Sometimes though, it’s hard to quantify. Education, real-time thoughts — those don’t exactly show up as a percentage-based return. Sometimes at Mr. Top Step though, we do get a concrete idea on returns.  Just look at what happened on Thursday May 6th.  The S&P 500 futures contract ended higher by roughly 34 points on the day, up 0.82%. But those in the Mr. Top...

Chart courtesy of TradingView.com Investing in a bear market is tough — for traders and investors. While the overall market is not in a bear market, it’s clear that growth stocks are.  When we look at the dip in Etsy stock, we see it’s being thrust right down to the 200-day moving average. Given how well this company and its stock has done, one would expect this level to at least provide a bounce this morning.  Etsy is currently trading around $168 in pre-market trading, putting it righ...

With a new month gives us new monthly charts for trading. Everything the market does is an opportunity to observe. Whether that’s a weekly chart, monthly chart or another timeframe.  I love when the calendar flips to a new month. Getting a look at the fresh closed monthly candlesticks is a fun task for me. Bonus points if the monthly close comes during the weekend, allowing some extra time to dig through the charts.  Let’s not waste any time and get a look at these charts. Below are three...

If there’s ever a time that Apple stock deserves to hit new all-time highs, it’s now.  In January, the company reported a robust earnings report, beating earnings and revenue. Sales of $111.4 billion beat expectations by $8 billion. Despite the record report, Apple stock slumped on the results, ultimately giving up its recent breakout over $138.  Fast forward three months and we have an even more impressive result.  Revenue of $89.6 billion beat analysts’ expectations by more than $12 ...

GameStop stock is on the move in pre-market trading after the company raised more capital. Let's look at the charts for a potential rotation.

Nvidia stock is on the verge of breaking out to new highs. Bulls are looking to get back in control and turn NVDA into a trend stock.

Trading Ford Stock This play was textbook, either for a bounce off the 10-week moving average or a rotation trade. Above is a weekly chart of Ford stock.  It highlights the strong run we’ve seen from the start of the year before shares topped out at $13.62 on March 15. From there we had three down weeks and a tag of the 10-week moving average.  Following the bounce, we had an inside doji week, with last week’s trading range completely contained within the prior week’s trading range.  O...