Top Ten Bullish Trending Stocks Extended above the 200 Day SMA October 18

Oct 18, 2017: 1:10 PM CST

Did you know this market will NEVER go down again?

Ok that’s not actually true but let’s take a moment to scan for the Top Ten Stocks trading the largest percentage above their rising 200 day moving average.

Using this simple scan, you can identify strongly trending stocks and either trade bullish retracement strategies… or aggressive ‘fade’ strategies.

Here they are:

The Technology Sector dominates the top 10 list with 50% of companies making the cut.

Nvidia (NVDA) and Micron (MU) both are trading over 40% above their rising 200 day Simple Moving Averages, indicating a strong trend in motion.

The goal of this simple scan is to bring to your attention extended and bullishly trending stocks in the market.

Again, traders who enjoy pro-trending strategies (such as buying pullbacks/retracements or breakouts) can use this as a foundational watchlist to build future trades.

If you happen to be a contrarian, then these are the most “overextended” stocks that you can begin watching for a possible mean reversion or “pullback/reversal” situation.

It’s up to you how you choose to use this list but here they are – in our non-stop bull market. Continue Reading…

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Peculiar Patterns on the Four Equity Futures October 17

Oct 17, 2017: 11:57 AM CST

Which of our four equity markets is the strongest/weakest and what patterns are emerging?

Let’s see them and plot the possible future course:

In the top left we see the @ES Emini forming a narrowing pattern or possible “Bearish Rising Wedge.”

However the strongest market – continually rising – is the @YM Dow followed by the @NQ NASDAQ.

These markets haven’t even pulled back more than a day since the late September bullish reversal.

We’re seeing a “Creeping” or “Oozing” Trend higher and higher and higher.

The big stand-out on the grid is the @TF or Russell 2000 which is showing clear relative weakness.

While the other three indexes are clearly rising and creeping, the Russell is simply retracing and trading lower. Continue Reading…

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Join Me at the Las Vegas Traders Expo in November

Oct 13, 2017: 3:24 PM CST

It’s right around the corner!

It’s the big International Traders Expo in Las Vegas this year at the beginning of November.

I’m excited to present two sessions – one workshop and a class – to the trading community.

I’ll be discussing Trend Days (one of my best intraday trading strategies) with you on Friday and teaching a four-hour intensive class on Thursday.

We can’t wait to see you there!  Go ahead and register now and book your travel.

Meet up with your fellow traders and learn new tactics from leading trading experts.

Also, demo the latest software and learn new strategies to set the stage for a great 2018 yet to come.

It really will be here before you know it!

Corey Continue Reading…

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Exploring the Emini Extended Run Volume Profile Chart

Oct 12, 2017: 12:33 PM CST

Will we ever get a pullback in this extended market?  It sure feels like we won’t.

In the event that we do, what does the Volume Profile Chart reveal about the levels to watch?

I’m so glad you asked!

With the market running strongly up away from the prior consolidation zone, there’s very little in the way of volume support nodes after the breakout beyond 2,505.

A small volume “hump” (distribution) node occurs just beneath 2,549 where the market trades currently.

We’ll use this as our short-term focal point for intraday trades.

For swing traders, however, the next low price target in terms of the Volume Profile is our new 2,505 level along with our old (prior) 2,495 level as seen from the red line (highest volume node) and distribution.

What’s the plan here?

Continue ignoring every bearish indicator and logic itself UNTIL price ACTUALLY breaks beneath the steeply rising trendline and/or moving averages.

Only then can you play for lower targets on a pullback in this rare “extended run” environment. Continue Reading…

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Market Still Holding at the Extended Highs October 11

Oct 11, 2017: 2:22 PM CST

Stocks continue to hold the highs at the 2,550 “Open Air” level on an extended upswing.

Here’s the quick chart update and the plan for the next immediate price swing:

SPX

As I share with members each night, we plan the next swing in price and then play that out – usually in terms of movement “toward” and “away from” key levels – either on a swing (Daily Chart) or intraday basis.

Right now, the price “failed” to pull back (retrace) sufficiently at the beginning of October (notice that the pattern has been pulling back from the upper Bollinger to the lower Bollinger and then moving back again).

This set the stage for an “Alternate Thesis” extended run or powerful short-squeeze.

We indeed got our powerful short-squeeze which propelled the market straight up through all-time highs toward where we are now at 2,550.

What’s the next expected simple plan?

Look back at the red highlights on the chart – reversal candles at the upper Bollinger Band in the uptrend – and plan for a pullback at least to the rising 20 day EMA again (green).

While that’s certainly the dominant thesis – and should be easy to see – YOU must plan for what you’ll do in the event the market extends the short-squeeze and continues in the lower-probability alternate thesis non-stop bullish swing in which we’re moving currently. Continue Reading…

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