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?

We set out to come up with an intraday trade plan for the S&P 500 (ticker /ES).

After going through a pre-trade routine that included marking up the chart we went through the bigger market pictures to "listen in on the story" that the market was sharing.

Take a look at the bi-directional levels of interest we pinpointed for that day.

Bank of America Corp (BAC) reported strong net income of $6.7 billion for Q4 yesterday, with an EPS of $0.82, indicating solid financial performance.

Makes sense that during a time of rising interest rates that a bank's revenue would go up doesn't it? 

See what share price could be getting ready to do for the first time since 2006!

American Express (AXP) is making headlines today because it agreed to pay a total of about $230 million to settle allegations of past deceptive marketing practices associated with its wire products.

Traders and investors seemingly yawned this off as the company's share price slightly dropped by 84 cents today after setting new all time highs about 24 hours ago.

With earnings scheduled for January 24 we wanted to review their chart from a price action technical analysis perspective.

Let's face it – we've all been there.

You're sitting at your desk, staring at your screens, and suddenly that little voice in your head starts whispering, "Maybe just one more trade..." or "What if I'm missing out on the next big move?"

Sound familiar?

Today, we're diving deep into the world of overcoming doubt and sticking to your trading plan like your profits depend on it (because, let's be honest, they do).

We like to call it the "Million Dollar Mindset!”

Universal Display Corporation is a developer and manufacturer of organic light emitting diode (OLED) technologies and materials, and it is a provider of services to the display and lighting industries.

The company is in the news today as a prominent analyst has started accumulating their stock, as well as others, amid the recent pullback.

Wait until you see the price action pattern we discovered on this chart!

Ferrari is in the news today as Bank of America analysts have identified their stock as one to "out perform" for 2025 so we wanted to take a look from a price action technical analysis perspective.

After making fresh all time highs this past summer see where price could be heading next.

Trading can be an exhilarating and potentially lucrative venture, but it's not without its pitfalls.

Whether you're dipping your toes into the world of stocks, futures, commodities, crypto, forex, or options, avoiding common mistakes can mean the difference between success and failure.

Let's dive into the Top 10 mistakes traders often make and how you can sidestep them.

Papa John’s International, Inc. (PZZA) reported today preliminary sales and unit development information for the fourth quarter and full year ended December 29, 2024.

The company doesn't report earnings until February 27, 2025.  Some things just make you wonder and go hmmmm...

Note: for all intents and purposes price has been in search of a bottom for going on two years now.

Insurance and utility related stocks with California exposure significantly dropped Friday as Los Angeles firefighters continued to attempt to contain wildfires that have totally ruined thousands of homes and caused at least 10 deaths.

Shares of Allstate (ALL), the Travelers Companies (TRV), Chubb (CB), Mercury (MCY), and American International Group (AIG) — were all trading down on Friday with Mercury suffering the largest drop of roughly 20%.

Today, we take closer look at Mercury's chart from a price action technical analysis perspective.