Big Price Action and Flag Targets for SP500

Jan 4, 2016: 12:50 PM CST

2016 begins with a big bang!  Are you safe as we start the new year on a volatile note?

China’s stock market tumble spread globally which began 2016 on a bearish note.

Let’s quickly trace the “Flag” Trendline pivot points and targets and plan a quick strategy from the current chart.

Take a moment to reference my prior post “A Flat but Not Boring 2015” for additional commentary.

For now, we’re focusing on the 1,991 confluence level which is the overlap of the 50% Fibonacci Retracement and the lower “Flag” or falling parallel trendline channel trendline as drawn.

So far, the low of today’s session (mid-morning) is this pivot spot.

Look to trade short-term bullishly for a bounce “up away from” our pivot target or else continue the sell-swing or breakdown “away from” the 1,990 level lower (toward 1,960).

We were expecting a lower swing to take place this week but it occurred in one session – you’ll benefit from real-time analysis and weekly planning as a member of the Afraid to Trade community.

Here’s a portion of a chart I shared and discussed with members as a teaser for you:

I provide detailed analysis, strategy planning, targets, and price triggers each week for members.

Note the Daily Chart Flag Pattern and plan your short-term strategies accordingly.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

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).

6 Comments

6 Responses to “Big Price Action and Flag Targets for SP500”

  1. Big Bang Jan 4 Market Update and Moving Stock Scan | Afraid to Trade.com Blog Says:

    […] a moment to review the morning post for additional level and target (trade) planning for the S&P […]

  2. Jan 5 Stable Market Update and Stock Scan | Afraid to Trade.com Blog Says:

    […] a moment to review the morning post for additional level and target (trade) planning for the S&P […]

  3. Jan 6 Another Crash Market Update and Big Stock Scan | Afraid to Trade.com Blog Says:

    […] I highlighted last weekend to our Intermarket Strategy Members, we took a bearish turn going into […]

  4. 2016 Off to Bearish Beginning Says:

    […] I highlighted last weekend to our Intermarket Strategy Members, we took a bearish turn going into […]

  5. Midday Market Meltdown Update and Big Stock Scan Jan 7 | Afraid to Trade.com Blog Says:

    […] I highlighted last weekend to our Intermarket Strategy Members, we took a bearish turn going into […]

  6. More Selling and Jobs Market Update and Stock Scan Jan 8 | Afraid to Trade.com Blog Says:

    […] I highlighted last weekend to our Intermarket Strategy Members, we took a bearish turn going into […]