December 2 Emini Fibonacci Retracement Grid Update

Dec 2, 2016: 1:22 PM CST

After an initial bounce just above our official Emini Fibonacci Target, price appears to be trading back toward our target level.

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

Traditional odds strongly favored a pullback and that’s precisely what we’re seeing.

The initial target is the 2,182 pivot and if the retracement picks up steam from there, we’ll be playing toward 2,160.

I’ll have more details and precise planning for members – join us and make the rest of your 2016 more profitable!

Want these levels and additional strategy planning in advance each evening?

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Continue Reading…

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December Downward Emini Retracement Takes Over

Dec 1, 2016: 2:12 PM CST

I’m thrilled to know that logic prevails and price is doing what it “should” at the moment.

Odds overwhelmingly favored a pullback/retracement toward lower Fibonacci Retracement levels for the @ES and right now – as we start December – that’s exactly what we’re seeing.

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

As traders, we can’t be forecasters – we must assess the probabilities and then act on them knowing full-well bigger moves tend to occur when the majority (of traders) are surprised and forced to stop-out rapidly.

That’s not occurring right now – odds strongly favored a pullback and that’s precisely what we’re seeing.

The initial target is the 2,180 pivot and if the retracement picks up steam from there, we’ll be playing toward 2,160.

I’ll have more details and precise planning for members – join us and make the rest of your 2016 more profitable!

Want these levels and additional strategy planning in advance each evening?

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

Continue Reading…

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Three Steps to a Trade a Collapse Lesson from Dryships DRYS and Qualcomm QCOM

Nov 30, 2016: 12:31 PM CST

I’m still surprised with how quickly Dryships (DRYS) surged from $5.00 to $100.00 but even more impressed with the even faster speed it collapsed from $100.00 back to $5.00.

Dryships (DRYS) serves as a perfect example of a euphoria pattern shows up on a stock’s chart when fear/greed (in this case extreme versions of both) capture trader’s interest.

It’s a common pattern and one you should learn as soon as possible – and here’s a great simple example of the pattern.

We’re seeing the entire birth-to-death cycle on the 5-min intraday chart – though the pattern works on any timeframe.

Let’s start with the black labels (1, 2, 3).

We have price emerge to life and captivate savvy traders early as a new uptrend emerges.

As buying pressure escalates, we see the first phase which appears as 1.  ADAPTIVE TRENDLINES.

This just means we re-draw trendlines as momentum and price slope higher.

Continue adapting/re-drawing your trendlines – and of course buying retracements – until you see price go vertical.

When price goes vertical, this is phase 2 (VERTICAL TRENDLINES).

Ironically this is the point where buyers are most euphoric/enthusiastic but it’s also the most dangerous phase.

It’s very difficult to short-sell into a rapidly rising market even if you “know” it’s about to collapse. Continue Reading…

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Our Make or Break Emini Level Update Nov 30

Nov 30, 2016: 11:43 AM CST

I’m not sure the buyers (bulls) know the meaning of a “pullback” but here we are, near the highs again.

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

Buyers aren’t willing to let this November rally die.  They’re aggressively stepping in on tiny pullbacks.

This shouldn’t frustrate us because we continue to balance reality (non-retracement) with probabilities (that favor a retracement).

Nevertheless, the plans remain the same – odds favor a pullback to lower levels while the “alternate” thesis calls for bullish “short-squeeze” plays above the 2,210 level.

Don’t predict – plan and react to what actually happens which could be a surprise short-squeeze.

Want these levels and additional strategy planning in advance each evening?

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

Continue Reading…

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Microsoft MSFT Gently Nudges to New High

Nov 29, 2016: 3:02 PM CST

Software giant Microsoft (MSFT) continue to be a “strong stock getting stronger” as evidenced by today’s new high.

Let’s chart this bullish candidate and plan key levels on which to focus for any trades:

On the Daily Chart, we can see short-term pivot support/resistance levels at $56.00 and $58.00.

We’re also seeing a new short-term resistance level at $61.00 but if price holds above this level, it could easily develop into a similar future support shelf.

For now, we’re watching the small V-Spike Bullish Reversal in November that propelled price to the new high.

If we pull the perspective back to the weekly chart, the bullish uptrend becomes clearer: Continue Reading…

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