ChartPros Market Insights

The silver market refers to the buying and selling of silver as a commodity or an investment asset. In the global market, silver is traded in various forms, including physical silver bars and coins, silver futures contracts, and silver exchange-traded funds (ETFs).

Today we'll take a look at the Silver futures market.

Boeing (BA) looks like it could be set to take off and potentially gain some altitude (pun intended)...

On the monthly chart, from a price action technical analysis perspective, it sort of looks like price has been all over the place the last few years since making a $446.01 all time high (ATH) in 2019.

Trading around $240 earlier today price is teetering at a decision level of whether to break out or fade back to the downside.

Global fast food giant McDonald's (MCD) is making headlines today by announcing it's launching a new concept named CosMc’s, an Alien-Inspired Restaurant Serving Slushes To-Go... whatever that means.

Strategically, the company is positioning the new endeavor as a beverage focused multiple drive-through destination aiming to compete with Starbucks and other takeaway drink chains.  The new concept will have also have a limited food menu.

Well that's great and sounds dandy but we wanted to review the chart from a price action technical analysis perspective and cut through all the marketing hoopla.

Much has been posted about Johnson and Johnson (JNJ) the past few weeks as it was recently disclosed that Berkshire Hathaway exited their estimated $54M position in the company as of September 30, 2023.

So we wanted to analyze the chart to see if we could determine why Warren Buffet, often referred to as the Oracle of Omaha, decided to make this move.

Starbucks (SBUX) is making headlines this week for making 12 consecutive down days losing X dollars of market cap and blah blah blah as the stories go...

When we looked at their chart back on June 15, 2023 price was trading around $101.  Today it's hovering around $96. 

So what's the big deal?

Streaming music provider Spotify (SPOT) announced it plans to lay off 17% (roughly 1,500) of its employees in a third round of layoffs this year.  Its stock price rose around 9% higher in early trading on Monday following the news.

Typically we like to review charts with much more historical price action than a chart like this but given its short existence the chart is already exhibiting normal type price behavior.

The stock of home builder D.R. Horton, Inc. (DHI) has risen over 20% in the past month in spite of rising interest rates that have deterred some home owners from moving this year.

So we wanted to take a look at the company's chart from a price action technical analysis perspective.

Intuit Inc. (INTU) provides financial management and compliance products for small businesses, self-employed individuals, consumers, and accounting professionals in the U.S. and worldwide.

The company reported better than expected results for Q1 FY2024, with sales up 14.7% year over year to $2.98 billion. The company's full-year revenue guidance of $16 billion came in below analysts' estimates. 

In after hours trading price popped up to $599 before falling nearly 8% this morning to the $570 area.

Dollar Tree (DLTR) shares are trading up this morning despite falling short of third-quarter earnings estimates on the top and bottom lines.

Trading at $118.73, well off its $177.19 all time high (ATH) set about a year and a half ago, we wanted to see from a price action technical analysis perspective why price might be trading higher given the earnings miss.

HP Inc. (HPQ) is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers, printers and related supplies, as well as 3D printing solutions.

The company is in the news this week because Warren Buffet's Berkshire Hathaway pared back on its large HP investment during Q3 according to public filings. 

And because of this we wanted to see the chart that made the "Oracle of Omaha" cut back his holdings.

One of the first securities solely invested in and deriving value from the price of Bitcoin (BTC), Grayscale Bitcoin Trust (GBTC) is solely and passively invested in BTC, enabling investors to gain exposure to BTC in the form of a security while avoiding the challenges of buying, storing, and safekeeping BTC, directly. GBTC shares are designed to track the BTC market price, less fees and expenses.

About a year ago we started scaling in to a GBTC position with an average cost around $10.  This past Friday we closed half the position at $31.20.  This was the beginning inspiration for posting Chart of the Day as “trading” works across all time frames.

Today we turn our focus on the NASDAQ futures (ticker /NQ) and one of the important questions we continuously try to answer is: Where could price go?

This is totally different than predicting or calling tops or bottoms.  Once we've determined the answers based on price action technical analysis tools then we develop our "battle plan" chart. 

One that includes the price levels in both directions from which we create pre-determined trade plans.

See the answers we've come up with so far!