The Range is All that Matters Right Now Jan 23

Jan 23, 2017: 12:43 PM CST

Stop what you’re doing and look at the trading range. Now. Take off all indicators and focus on price.

We’re still trading within a clear range – no breakout yet – and today’s action fits perfectly in that context.

Here’s today’s updated Emini (@ES) trading levels for your trades:

We continue to see price – as planned – move within the 20 point trading range.

Today saw the expected swing DOWN toward the 2,250 pivot with a present bounce UP AWAY FROM it again.

A future breakout is on the horizon but it’s not here yet. Play the range until we do get this future breakout.

Love it or hate it – you should be indifferent – this is the hand the market is dealing all of us at the moment.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

1 Comment

Join Corey and Thousands of Your Fellow Traders at the February New York Traders Expo

Jan 21, 2017: 10:08 AM CST

Start planning today!  It’ll honestly be here before you know it and you don’t want to miss out on a profitable start to 2017.

I’m excited to return as a speaker at the 2017 New York International Traders Expo and want you to join me and many of your fellow traders at this one-per-year unique gathering.

I’ve attended and presented many times previously and I always look forward to the NYC Expo.

Not only do you get to meet fellow traders and network, but you also get to attend dozens and dozens of free educational and market forecasting sessions with leading educators and traders in the industry.

You’ll also be able to demo new products, software, and goodies at the expanding Exhibit Hall.

I’ll be discussing it more as the Expo approaches but go ahead and register today and start planning your trip.

As someone who has attended the Traders Expo since 2004 and been a presenter since 2009, you do NOT want to miss this event!

Make sure you’re on the right page with your analysis as you attend planning sessions with leading market analysts, traders, and forecasters.

Will I see you there?  Let me know and I’d love to meet up for coffee if you’re able to attend.

Here’s to a great start to 2017!

Corey

Continue Reading…

1 Comment

Bristol Myers Squibb BMY Teaches us the Value Spotting Extended Negative Divergences

Jan 20, 2017: 6:36 PM CST

If you’ve ever wondered why we chart momentum and volume along with price, BMY tells us why.

Today shares literally collapsed back to the lows, down from the prior swing highs.

Wouldn’t it have been nice to know this was a distinct possibility?

Divergences warned us many days in advance.

Let’s study this example from this  reversal and learn to spot it in the future – and be ready.

We’re seeing Bristol Myers Squibb (BMY) reverse UP away from the $50.00 level in October to peak at $60.00 as we began 2017.

Look closely at the swing highs in November, December, and January.

If you understand divergences, you’ll know that something is very wrong that price isn’t showing.

With price at new swing highs, comfortably above the 20 day EMA, things are severely deteriorating beneath the (price) surface.

Namely volume has been weakening since November along with momentum (both are trending lower).

The chart above shows us the collapse back to $50.00 but let’s zoom-in on the divergences for clarity: Continue Reading…

0 Comments

Pondering a Perfect Pattern Repeat for Market at the Highs

Jan 20, 2017: 1:17 PM CST

A major part of technical analysis (charting) is identifying prior patterns – and their outcomes – and comparing them to what’s happening right now in the market.

It’s not to say that history will repeat 100%, but if it does, you have an advantage over other traders who don’t see the pattern (and who are likely to make the same mistakes they made last time).

We’re seeing a direct Pattern Repeat situation in the S&P 500 and it’s time to study it for a proper plan of attack (what we expect to happen next).

Here it is in full pattern glory:

I’ve been highlighting this pattern with members and wanted to share it with you as well.

We’re focusing on the July to August pattern where price rallied sharply higher and then developed TWO small trading ranges just above the rising 20 day EMA (green).

We even observed a similar negative momentum divergence in the oscillator (red arrow).

Ok – that’s great.  We’re mainly concerned with the immediate future and if the outcome from August will be similar – repeat – into January/February.

Let’s take a quick moment and zoom-in on the pure price action with respect to the moving averages:

The left image is the candles (price bars) from July into August and the right image is the current rally.

Does it look familiar?  It should – and does.  That’s undeniable.

What we’re concerned with is the price action in August AFTER the two highlighted regions.

Price stagnated a bit more (continued to trade sideways) and then plunged lower in September, kicking off a bearish swing that ended in November.

No, the immediate future won’t exactly match the past but there will be echoes and clues savvy traders can use in their game plans into February.

Continue studying the July/August pattern and the September/November outcome and plan today. Continue Reading…

0 Comments

This is a Very Tight Range for Traders Emini Jan 20

Jan 20, 2017: 1:07 PM CST

Stop what you’re doing and look at the trading range.  Take off all indicators and focus on price.

We’re still trading within a clear range – no breakout yet – and today’s action fits perfectly in that context.

Here’s today’s updated Emini (@ES) trading levels for your trades:

We continue to see price – as planned – move within the 20 point trading range.

We’re back at the midpoint of an expected sell-swing “down away from” 2,270 as we trade through 2,250.

A future breakout is on the horizon but it’s not here yet. Play the range until we do get this future breakout.

We had a strong gap UP from 2,260’s Midpoint to 2,270’s trendline and then right back down to 2,250.

Love it or hate it – you should be indifferent – this is the hand the market is dealing all of us at the moment.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

0 Comments
 Page 1 of 799  1  2  3  4  5 » ...  Last »