Fed Day Fibonacci Grid Update Sept 21

Sep 21, 2016: 12:08 PM CST

Will the Fed raise rates or keep them the same?

The answer to this question will determine whether we stay within our defined Fib Grid or break out of it.

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

Here’s a reference guide of how to use and trade from these morning updates.

I drew a smaller grid which builds off the 2,180 swing high and captures the recent intraday reversals better than the larger grid.

We’re still working on the 2,139 level as our pivot within our 2,145 and 2,128 levels.

We’ll hear what the Fed does shortly – and the expectation is that they NOT raise rates.

Of course, BIGGER price swings occur when there is a surprise….

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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SP500 SPX Scraping the Underside of the 50 Day EMA

Sep 20, 2016: 10:23 AM CST

We follow the market on an intraday basis but it’s helpful to pull the perspective up to the Daily Chart for clues.

Right now we’re seeing a clear higher timeframe range develop as the market “scrapes” the underside of a key EMA.

In simplest terms, sellers are stepping in at the underside of the 50 day EMA near 2,150.

Focus on this level as a key pivot – bullish for a breakout above, bearish beneath.

However, buyers are stepping in to support the market at the 2,120 price pivot.

Continue following along with our morning market updates of the intraday Fibonacci Levels within this context.

We’ll have the Fed Decision (hike?  not hike?) Wednesday and any surprise could be the catalyst to break us out of these focal points. Continue Reading…

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Rising Range within our Emini Fibonacci Grid Sept 20

Sep 20, 2016: 10:01 AM CST

The Fibonacci Levels continue to work! It’s reassuring and exciting – and hopefully profitable for you.

Yesterday was a perfect example of the high, low, and afternoon reversal taking place exactly at our levels.

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

Here’s a reference guide of how to use and trade from these morning updates.

We’re seeing a Rising Range (black trendlines) occur within our Fibonacci Levels.

I go into more detail for members, but for now, focus on 2,140 as the midpoint, 2,148 as the upper pivot, and 2,128 as lower support – all within the context of the rising trendlines and bull/bear pathways beyond them.

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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Updating our Famous Fibonacci Emini Grid Sept 19

Sep 19, 2016: 11:18 AM CST

The Fibonacci Levels continue to work!  It’s reassuring and exciting – and hopefully profitable for you.

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

Here’s a reference guide of how to use and trade from these morning updates.

Be sure to reference the previous update for additional information for the larger Fibonacci Grid targets.

We have our 50% “halfway” level at 2,148 which was both a target for today’s bullish surge and a possible reversal point.

The initial play is to trade UP toward key levels and then – for aggressive intraday traders – DOWN away from them.

For the remainder of today’s session, focus on the three active pivots at 2,148, 2,139, and 2,128.

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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GDX Gold Miners Pulls Back to Critical Support Level Sept 16

Sep 16, 2016: 11:05 AM CST

Gold – and popular ETF GDX (Gold Miners) – pulled back to a key support level.

Let’s chart the retracement (is it a reversal?) and pinpoint the critical level that will give us a big clue now.

The chart above shows the Gold Miners (GDX) in an uptrend all throughout 2016 along with Gold, seen on the lower chart window.

Though price continued higher through 2016, volume slowed down in a divergence, especially on the August high.

Look closely that on the high – yellow highlight – daily volume was under 50 million shares per day (among the lowest levels in 2016).

We also saw a persistent negative divergence in momentum into the August high.

These factors – at a minimum – suggest a steeper pullback (which is what occurred) and perhaps a reversal. Continue Reading…

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