Uptrending ULTA Breaks Strongly Higher May 27

May 27, 2016: 11:18 AM CST

“Strong Stocks Tend to get Stronger” and Ulta Salon (ULTA) – a stock you may never have traded – is a perfect example of our investing concept.

Stronger than expected earnings yesterday became a catalyst to boost share prices strongly higher on a large upside gap this morning.

Here’s our weekly chart with the “Strong Getting Stronger” concept in full display:

Price paused in a range through 2013 and 2014 but broke higher into a stable, persistent uptrend through 2015.

Another small consolidation into 2016 gave way to an extremely powerful, sharp uptrend into today.

Note the three phases of upward price action (note the angles of the arrows) as the “strong stock got stronger.”

With this larger picture trend in mind, let’s focus on the short-term trend and upside gap today: Continue Reading…

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Two Rounded Arc Reversals in Gold May 27

May 27, 2016: 10:27 AM CST

Gold prices declined eight sessions in a row in a collapse from the $1,300 level toward the $1,200 target.

Let’s update our Gold charts to highlight these reversals and note the current target and plan:

Late 2015 gave us a lengthy “Rounded Reversal” or “Arc Trendline” Pattern just under the $1,100 level.

A reversal and breakout in February – on higher volume and momentum – thrust price up to our extension target into $1,300.

From there, a similar Negative Momentum (and Volume) Divergence developed into the $1,300 level.

Our game-plan was to be cautious/bearish into this level as a reversal was likely.

We’re now seeing that reversal (deeper retracement) achieving its target sooner than expected. Continue Reading…

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Final Fibonacci Flirting Holiday Edition Emini May 27

May 27, 2016: 10:12 AM CST

Our two days of strong bullish action and yesterday’s consolidation took us straight into our last major Intraday Fibonacci Target.

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

Friday’s holiday session continues to levitate the market higher above our “Final Fib” at 2,087.

At this point we’re challenging the underside of the 2,092 level which was the prior high from late April.

We’ll focus our attention today on these levels – 2,092 (prior high) and 2,087 – as intraday pivot points.

Ultimately additional holiday levitation could extend the short-squeezed bullish rally today.

Otherwise be neutral (intraday) between 2,087 and 2,092; bullish above and cautious/bearish beneath.

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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Range Day Market Update and Moving Stock Scan May 26

May 26, 2016: 2:34 PM CST

After two strong bullish breakout (trend) days, we’re seeing a logical consolidation at the highs.

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

The S&P 500 Index developed a support shelf into 2,090 and a resistance ceiling near 2,095.

We’ve been in a five-point range for almost two whole sessions now, and we’ll focus on these levels.

A breakout – one way or another – is the next likely tradable swing.  Don’t be biased – let price tip its hand and join with the winning side.

Receive daily updates, planning, and education by joining the Afraid to Trade Premium Membership.

Continue Reading…

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Flirting with the Final Fibonacci Emini Update May 26

May 26, 2016: 10:47 AM CST

Our two days of strong bullish (including a short-squeeze) action took us straight into our last major Intraday Fibonacci Target.

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

Two upside gap openings thrust the @ES through all major Fibonacci Retracement levels with only a minimal pause at our 2,074 target.

Yesterday’s gap set in motion another Trend Day to our 2,087 level where price finally resisted against the prior price high from late April near 2,091.

For today’s session, we are focusing on 2,087 and 2,090 and getting ready to play another departure away from this level.

An upside break to a new intraday swing high opens a play just above 2,100; the favored downward play targets 2,074 for the next intraday swing.

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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