Four Stocks in the Dow Making Fresh 52 Week Lows

Jul 1, 2015: 11:06 AM CST

“What gets weak tends to get weaker; what gets strong tends to get stronger.”

Which four stocks in the US Dow Jones Industrial Average are “really weak” right now, so weak that they are downtrending and pushing to brand new 52-week lows?

Let’s highlight four companies that are swimming against the broader market’s tide (and may continue to do so).

In alphabetical order, we’ll start with Chevron CVX:

Before we study these stocks today, be sure to view my prior post from June 3rd entitled:

“Charting Three Weak Stocks in the Dow Jones Index”

What was weak then – and even before then – is STILL weak today.  In the earlier post, I highlighted Chevron (CVX), Wal-Mart (WMT), and Exxon-Mobil (XOM).

Today, I’m highlighting… Chevron (CVX), Wal-Mart (WMT), and Exxon-Mobil (XOM) along with a new ‘weak’ addition of Coca-Cola (KO).

The purpose of this scan is to determine weak stocks likely to get even weaker which means our strategies should favor bearish tactics, NOT bullish reversal strategies (which are tempting).

Nevertheless, Chevron broke support above the $100 level and extended the downtrend, collapsing toward the current $96.00 level.

It’s striking to note that Chevron – a Dow Jones component – has traded 11 weeks consecutively to the downside.

That which is weak tends to get weaker. Continue Reading…

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Power Bounce Market Update and June 30 Stock Scan

Jun 30, 2015: 1:42 PM CST

What goes down must come up… right?

After an initial bounce in the morning, price retested the low on positive (stretched) divergences ahead of our logical snap-back rally we’re seeing mid-day.

What’s going on now and what levels are important? Let’s see:

Here’s a key strategy planning quote from last night’s members-only update:

“…be ready to buy a support bounce that boosts the market “up away from” the 200 day SMA pivot near 2,055/2,060.”

Continue to receive real-time, detailed strategy planning by joining as an Afraid to Trade full member.

Again, our key pivot target was the 2,060 level which was retested midday ahead of the clear positive TICK and Momentum divergence.

We’re now seeing our expected (dominant thesis) short-term bounce/reversal “up away from” this level toward the 2,075 pivot or higher.

Always compare price with Internals or Momentum and be on the lookout for divergences like these.

Continue Reading…

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Three Rocket Arc Patterns for Overseas ETFs EWG EWS and FXI

Jun 30, 2015: 10:12 AM CST

When doing ETF scans, I came across three “Rocket Arc” Patterns I wanted to share with you.

Let’s take a look at these three “Rocket Arc” Patterns in these country-based ETFs following Greece.

We’ll start with a “Perfect Arc” Pattern in Germany iShares (EWG):

I like the “Arc Trendline” or “Rocket Arc” Pattern because it highlights a strong rally which gives way to a sideways “arc” ahead of a sell-off swing as the “Rocket” falls back to earth.

It’s just like a rocket lifting off, stalling at the highs, and then returning back to earth from gravity.

Note the blast-off from $26.00 per share all the way above $30.00 when negative divergences developed.

From there, price retested the $30.00 level and are likely on a descent back to earth – down away from $30.00.

Should shares continue falling under $28.00 per share – the midway support target – then $26.00 is in play. Continue Reading…

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Join Corey and Manesh Patel Tuesday June 30 for “Planning Trades for the Summer” Webinar

Jun 29, 2015: 1:57 PM CST

As we end the second quarter 2015 (can you believe it?), what opportunities are setting up and what can we learn going into the remainder of 2015?

Manesh Patel and I will be presenting a two-hour joint webinar Tuesday evening June 30th at 7:30pm EST and we’d love to have you as our guest as we discuss trading strategies and opportunities for the summer 2015!

Entitled “Setting Up Trades for Summer,” Manesh I and will discuss current market conditions and teach a class on the following topics:

Identifying Major Support and Resistance with Ichimoku Time-Frame Matching (Manesh)

Among the topics Manesh will discuss are the following:

• How to determine the sentiment of an instrument, i.e., bullish/bearish/sideways
• When to enter a trade with a high risk/reward ratio
• When to exit a trade by gauging either minimal loss or maximum profit

Filling Five Gaps in your Trading that are Keeping You from Consistent Success (Corey)

I’ll be “filling you in on” five specific areas of your trading practice that may be holding you back from your goals as a swing or intraday trader.

Click on over to the Go-To Webinar Registration Page for full details on what we’re discussing and when and how you can benefit from the classes and live-market commentary.

I’ve worked with my friend and colleague Manesh for a few years now and am excited for this opportunity to team-up and share our unique perspectives with you.

“Dominate the market. Reduce risk. Expand your cash flow.”

We can’t wait to see you there!

Corey

Continue Reading…

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June 29 Greece Market Update and Falling Stock Scan

Jun 29, 2015: 1:29 PM CST

Markets got a rough start to the week with a gap-down and trend day lower as Risk-On Money Flow took over following bearish news from Greece over the weekend.

What’s going on now and what levels are important? Let’s see:

Here’s a key strategy planning quote from last night’s members-only update:

At times like this when price is fairly balanced [at 2,100], get ready to play the movement away from this level as one side wins the “battle or balance” and the other side loses (exiting with their stop-losses).

Continue to receive real-time, detailed strategy planning by joining as an Afraid to Trade full member.

Price did break (gap) early under the 2,100 level and the sellers (bears) clearly won the battle, collapsing the market lower toward the 2,070 target zone from our higher timeframe trading range target.

We’re clearly focusing on this level for additional sell or liquidation (Risk-Off) action or else a bounce up off 2,070 from divergences.

Continue Reading…

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