ChartPros Market Insights

The S&P 500 (/ES) has taken traders on a roller coaster ride ever since setting its 6163.75 all time highs (ATH) back in mid December.  Seemingly, the Santa Clause rally came early this past Christmas.

Price made a tumultuous drop just before the holidays and the headlines were full of doom and gloom and words like "correction" were being tossed around like candy in a parade.

Today, we’ll dive into the recent volatility through the lens of price action technical analysis.

Discover Financial Services (DFS) is scheduled to release 4Q earnings results on January 22 after market close.

Their stock has been repeatedly making new all time highs (ATHs) 6 of the past 7 months and by request we'll take a deeper dive into the chart from a price action technical analysis perspective.

In this post we'll address these questions:

• How much higher can price go?
• If I own the stock where should I get out?
• If I don't own the stock but would like to get in what level should I look for?
• Should I just ignore this chart and come back in a few months and take another look?

Floor and Decor stock is reportedly held by Berkshire Hathaway, Warren Buffet's holding company so we wanted to review their chart from a price action technical analysis perspective.

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews.

So when we looked at the Crude Oil chart (/CL) this morning and saw price tanking again we asked our self... "hmmmmm.....wonder where oil prices could be heading?" 

While it's never a straight shot it sure was pleasantly surprising to see as a consumer that technically speaking that the $50 area is in play.

Keep reading to see how...

PayPal is in the headlines today as it added another recognizable partner to its list: Shopify.

PayPal CEO Alex Chriss and his team have been working to generate a turnaround, and they're seeing some progress.

So we wanted to review their chart from a price action technical analysis perspective.

Wait until you see the very familiar looking pattern that has formed on this chart.

US Steel stock price has been moving backing and forth in a range for the last decade, with a failed attempt to break out late last year. 

It has since been tumbling down and that tumble increased when recent reports stated that the Biden administration told Nippon Steel in a letter recent letter that its $14.9 billion acquisition of U.S. Steel would pose a national security risk by harming the American steel industry, leading some to believe the U.S. is poised to block it.

Guest post by Darren Bush, ChartPros Sr. Trade Room Member.

Medical device provider Zimmer Biomet (ZBH) shares dropped over 8% on Thursday after the company disclosed significant challenges stemming from an enterprise resource platform (ERP) transition.

The company's management team is working with third-party consultants to address the issue but until a fix is in place analysts believe the stock and earnings outlook remain under pressure from the ongoing ERP transition challenges.

Their stock is trading down over 8% today so we wanted to review their chart from a price action technical analysis perspective.

Wait until you see where a potential "sweet spot" confluence area on the chart is...

Before the market opened Wednesday morning, discount retailer Dollar Tree published results for its fiscal second quarter that missed terribly and they also issued revised downward guidance for the future...

Needless to say their stock price is getting hammered today, down about 25% so we wanted to review their chart from a price action technical analysis perspective.

See the last chance levels for the bulls to step back in...

Anheuser-Busch (BUD) likely needs no introduction or background information as most consumers and traders know the BUD story all too well.

The company has been absent from the headlines recently so we wanted to check in on them and review their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Ulta Beauty is making headlines today as the company's earnings report fell short on Thursday of second-quarter expectations and trimmed its full-year guidance after a decline in same-store sales during the most recent period.

It was the company’s first earnings per share miss since May 2020 and first revenue miss since December 2020 so we wanted to review their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023.