ChartPros Market Insights

Rex American Resources Corporation (REX) is a leading U.S. producer of ethanol, a renewable, cleaner-burning fuel that reported earning before the market open today.

In looking at yesterday's $41.63 high of the day price seemingly "broke out" above structure and created new all time highs (ATH).

But after the market opened today this looks more like a "fake out" rather than a "break out".

At least for now...

If you've been following our Chart of the Day posts and have benefited from one or more of them we ask that you consider participating our NEW Pay It Forward - Traders Helping Traders program.

As many people may know, the Coca-Cola (KO) company is one of Warren Buffet's top 5 holdings. And has been for quite some time.

With price moving sideways and essentially consolidating forming a "change control zone" on the weekly chart might price be setting up for its next big move?

If you've been following our Chart of the Day posts and have benefited from one or more of them we ask that you consider participating our NEW Pay It Forward - Traders Helping Traders program.

The iShares 20+ Year Treasury Bond ETF  (TLT) seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities greater than twenty years.

TLT and its related securities have been making recent headlines as their trading prices have reached price levels not seen this low in over a decade.

So where could TLT price be going?  We wanted to take a look...

Advanced Auto Parts (AAP), like other retailers, continued its downward spiral this week.

For the monthly and weekly chart we'll only use support/resistance and trend as taught in our MOST POPULAR Introduction to Price Action Trading Course to determine where price could be going...

Currently down another 5% today to $64.18 it appears that price may have an upcoming decision to make around the $60 area...

Yesterday we looked at the NVIDIA (NVDA) prior to their earnings release and its after hours parabolic rise using the "Magic of Fibonacci" to project potential upside targets.

Today we'll take a look at the actual results.

NVIDIA (NVDA) has the internet ablaze with headlines about its AI technology and its stock price.

Today we'll take a look at its price and how to use Fibonacci and the math / probabilities behind it to create potential upside price targets.  Note, these are not levels to short or buy, but anticipated upside targets as if you were already long for trade management educational purposes.

Macy's (M) beat earnings estimates on Tuesday before the market open, but the department store pointed out that its credit card business is under pressure.

In its Q2 earnings report, the company highlighted a decline in credit card revenues, "which were negatively impacted by an increased rate of delinquencies across all stages of aged balances within the portfolio."

Yet another retail giant took a cautious outlook on consumers.

Yada yada yada so the story goes...

So often I get asked "Tom, where do you think the market is heading?"

I start by saying the better question is "where could the market be heading?"

Because what I think doesn't matter to price action and no one knows with any certainty where the markets are heading. 

I don't make predictions, I don't call tops/bottoms however, I may react to price when it reaches a predetermined level of interest by trading or investing in that particular index, equity, commodity, Forex, etc.

Let's take the S&P 500 for example using it's futures ticker /ES...

By now you may have heard about the tragedies in Maui. I have thought and prayed about those suffering from the devastation and will continue to do so.

Today we'll take a look at Hawaiian Electric's (HE) chart.  The company serves 95 percent of Hawaii's 1.4 million residents on the islands of Oahu, Maui, Hawaii, Lanai and Molokai.

The primary reasons for taking a look at this chart is to provide a harsh reminder to you to "never say never" and that in the markets anything can happen at anytime for any reason...

Electronic Arts (EA) is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

That's great, but to us it is just another chart...

Since making new all time highs (ATH) at $151.26 and subsequently dropping below $75 back in 2019 price retested its highs in 2021 before drifting lower.  

OGE Energy Corp. (OGE) is a holding company with investments in energy and energy services providers offering physical delivery and related services for electricity in Oklahoma and western Arkansas. 

The company reported second-quarter 2023 earnings earlier this week of 44 cents per share, which missed the analyst's estimates of 65 cents by 32.3%.

From a price action technical analysis perspective price is getting a "haircut" as they say on Wall St. and toiling inside a "change control zone."