Join John Person’s Trader Tools that are Working Right Now Webinar Thursday

Oct 22, 2014: 4:30 PM CST

I wanted to call your attention to a special live educational webinar taking place Thursday, October 23rd at 4:30pm EST from my colleague and friend John Person.

Entitled “Best Tools for Traders Working Today,” John will discuss the top tools for traders as adapted to today’s new markets.

I’ve worked with John for many years and highly respect his work with traders.

He is a fellow presenter on TradeStation’s Morning Market Briefings with me (he updates on Thursday and I’m on Tuesday morning).

Here’s a description from John:

Let John Person help you reach your trading potential.

Join us on Thursday October, 23 at 4:30 p.m. EST for an educational trading webinar, as he demonstrates the tools he uses to trade both personally and teaches stock traders to use all over the World.

John has helped traders take their trading to the next level and become more successful following his techniques.

In this hour long webinar he will cover the following topics:

  • Making Stock Candidate Selections using his Top 3 Indicators
  • Seasonal Sectors using the Top Down Approach
  • Favorite Risk Management Techniques

This is a rare chance to join a webinar and have a one on one experience featuring John Person’s wisdom and expertise. If you are unable to attend the live event please register and we will follow up with a recorded copy of the webinar.

If you are looking for concrete ideas to sink your teeth into then be sure to attend this special fast-paced session.

To register click here and get ready for a great educational webinar!

When: Thursday, October 23, 2014
Where:  On line at Personsplanet.com  Omnovia Trading room
What Time: 4:30PM (ET)

See you there!

Corey Continue Reading…

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Reversal Intraday Market Update and Stock Scan for Oct 22

Oct 22, 2014: 1:49 PM CST

And now for something completely different (than this creeper trend we’ve seen)!

Here’s our S&P 500 update and trending stock scan for the day:

Price crept advanced with “Creeper” Trend Days into today’s session high of 1,950.

Note the lengthy negative TICK (Market Internal) Divergence along with the descending TICK Channel which occurred before the reversal.

Nevertheless, price currently trades into the 1,930 level, 20 points lower than today’s reversal high.

We’ll focus our attention here at the 1,925/1,930 price cluster target from a higher frame.

Continue Reading…

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The Rectangle Range Continues for Apple AAPL Trade Planning

Oct 22, 2014: 10:17 AM CST

After a mini-bear trap, Apple (AAPL) shares continued trading within a well-defined Rectangle Range Pattern.

Let’s update our Apple chart and note potential breakout trades – or “Range Fades” – that may trigger soon.

After a breakout (gap) into trend movement from May to August, shares have traded within a triangle and now rectangle price pattern on the Daily Chart.

To simplify the chart, Apple shares trade between resistance into $103.00 per share and support at $95.00 per share.

This defines our current short-term trading strategies for Apple.

We’re currently monitoring the $103.00 resistance level for a potential breakout and pro-trend (bullish) continuation trade opportunity as price moves up away from this area.

However, we’re balancing the odds of yet another “fade” or failure to breakout, which allows for an aggressive short-sell trade into resistance (with a stop beyond the $103.50 or $104.00 level).

In the “alternate” thesis event that price does turn, but turns too sharply and continues with a breakout under $95.00’s support level, it would lead to a potential breakdown play toward the $90.00 support cluster.

Here’s the picture taking shape on the Weekly Chart:

Note that $95.00 per share also provides a floor of support from the rising 20 week EMA ($96.77).

In the event that Apple shares do break through the $103 and then $105 level, it could lead to yet another pro-trend continuation trade opportunity (bullish above $105).

We see a lengthy sideways Triangle pattern that developed into early 2014 where price broke strongly above it to continue the bullish impulse from the 2013 low.

The prior high from 2012 (which actually was $700 per share before the split) aligns with $100 per share – the midpoint of the current range.

Do note the negative weekly momentum divergence which is a slight concern for buyers at the moment (unless we see a sudden bullish breakout which would override the divergence caution signal).

Continue monitoring price with current levels inside the Rectangle Range Pattern.

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Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

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Updating the Best and Worst Days of 2014 for the SP500

Oct 21, 2014: 5:18 PM CST

Pop Quiz:  Without peeking, can you identify which month had the best day for the S&P 500 in 2014 and then which month had the worst day so far?

How about if I said TODAY was the best day of 2014 for the S&P 500?  That’s actually true.

If the best day for 2014 happened in October, when did the worst day of 2014 occur? Also October?

Let’s take a look:

The Range/Volatility Chart above plots the S&P 500 Index with the Intraday Range (a simple measure of Volatility) along with the point gain (on an up-day) or point loss (on a down-day).

First, we note a few pockets of Volatility (consistent days of high intraday range), mostly during sell-offs or retracements during 2014. Continue Reading…

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Up Up and Away Market Update and Stock Scan for Oct 21

Oct 21, 2014: 1:29 PM CST

Just like the prior times when buyers intervened to force a short-squeeze, we’re seeing the same breakout into shot-squeeze outcome this time above 1,900.

Here’s our S&P 500 update and trending stock scan for the day:

After the recent V-Spike Intervention at the lows, we’ve seen the market creep like a serpent ever higher into the first resistance cluster at 1,900.

This morning’s gap triggered yet another Short-Squeeze Breakout outcome (see yesterday’s planning) and we continue to trade long with the buyers (and perversely, long with the bears/short-sellers who continue to drive price higher collectively with their buy-to-cover stop-losses).

With the market above 1,925, we aim for 1,945’s confluence target.

Continue Reading…

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