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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Bouncing Range Market Update and Scan for Oct 20

Oct 20, 2014: 1:06 PM CST

With a narrow bounce continuing to drive the market into a known resistance cluster, let’s view the key levels, highlight the trending stock candidates, and update our S&P 500 chart as we start the week of October 20th.

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

Again we watch the 1,900 confluence which represents a “Round Number” level with the 38.2% Fibonacci Retracement as drawn, along with the important 200 day Simple Moving Average near 1,905.

The market is simply “Breakout Bullish” to reverse the intraday downtrend via V-Spike Intervention Reversal or else bearish into resistance should price instead move down against the 1,900 cluster.

Continue Reading…

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Netflix NFLX Pushing into Gap after Big Drop

Oct 20, 2014: 11:25 AM CST

Netflix shares (NFLX) suffered a large news-based drop last week that took price all the way down to a key monthly support target.

Let’s take a look at a potential buy opportunity as shares push into the gap or “open air” created from the plunge.

From last week, we saw a gap down into the $330 level on very high volume as buyers swooped into purchase shares at a deep discount to the prior $440 to $490 range from June to present.

The opportunity now is to play aggressively (buying shares) into the movement higher as price completes at least a partial fill of the gap from an oversold bounce. Continue Reading…

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Join Me and 50 Other Speakers Live at the Las Vegas Traders Expo

Oct 20, 2014: 10:27 AM CST

Be our guest live at the rapidly approaching Las Vegas Traders Expo!

The special event will take place November 19 – 22 at Caesar’s Palace.

You’ll be able to meet fellow traders, hear in-depth presentations from leading trading educators, tour the exhibit hall to see new products and software (and ask questions directly to experts), and network with colleagues whether you are a new or experienced trader.

Register today and start planning your trip to Vegas!  This is the link to learn more information and register.

I’ll be presenting live Saturday, November 22nd on “Insider Strategies to Trading Three Classic Price Patterns

I will incorporate real-time market examples that are showing these patterns (and discuss trading opportunities).

You’ll also be able to hear from more than 50 leading educators including John Bollinger, Rob Hanna, Toni Turner, Larry Williams, John Hoffman, Andrew Cardwell, Al Brooks, Tom DeMark (just to name a few!).

Live events allow you to network with fellow traders and share your stories of success and struggle – all designed to build a community and friendships among colleagues.

I’ve always enjoyed the Traders Expos and will look forward to seeing you there!

Corey

Continue Reading…

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