Emini Keeps the Bull Market Going Dec 6 Update

Dec 6, 2016: 12:37 PM CST

Today keep the bullish pressure going – so far – on the bounce up away from our Emini Fibonacci Level.

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

After a pullback took the market toward our 23.6% Fibonacci Level last week, buyers aggressively intervened on the Double Bottom with Divergence pattern I highlighted Friday:

The confluence Fib Grid above suggested we first target a sell-swing toward 2,182 as a possible short-term DOUBLE BOTTOM pattern has occurred at this key target level.

At this point, a short-term (tiny) trading range occurred at the floor of support at 2,200 and the resistance high.

We’ll be using 2,200 as our bull/bear pivot through the rest of the week.

Continue Reading…

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Down Drops the Dollar on Divergences into Fibonacci Target

Dec 5, 2016: 3:38 PM CST

The S&P 500 isn’t the only market you can track using intraday charts and Fibonacci Levels.

Let’s carry forward the same logic to the intraday @DX US Dollar Index and plan the next swing from here.

We see the US Dollar Index on the 30-min chart on a rally from 97.00 to 102.00.

Note the progression of strong, rising price highs with confirming new momentum highs early in November.

As price continues its uptrend, we see progressively lower highs in our momentum oscillator, locking in a negative momentum divergence.

We’ve been cautious on the Dollar into the 102 index level as described in our Weekly Member Reports and we’re now seeing the expected (and logical) sell swing down away from the 102 level toward the 100 confluence target.

Note that 100 is both a “Round Number” and a Fibonacci (38.2%) Retracement Target which is now achieved.

Use the 100 level as your pivot price for bullish plays above and bearish “additional selling” trades beneath it. Continue Reading…

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New Lows after Surge for Nat Gas 3x DGAZ

Dec 5, 2016: 12:21 PM CST

Triple-Leveraged ETFs are the wild-west of the short-term trading landscape.

You can triple your gains if you’re right or triple your losses if you’re wrong.

Here’s a good example of a boom-to-bust quick-cycle in Natural Gas 3x inverse (short) ETN DGAZ:

I’m a huge proponent that 3x inverse ETFs should be used ONLY by day-traders or extremely short-term swing traders.

Nevertheless, these are valid vehicles for quick profit if you’re experienced and aggressive.

For this roughly 30% quick Nat Gas decline in November, the 3x ETN doubled (138%)  from $4.00 to $9.50! Continue Reading…

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Rally off Fibonacci Grid Support Emini Update Dec 5

Dec 5, 2016: 11:55 AM CST

It’s always exciting when price does exactly what it should!

Here we’re seeing a rally up away from our Fibonacci Retracement level after Friday’s positive divergence and ‘double bottom’ short-term reversal price pattern.

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.

Here’s two quotes from Friday’s strategy planning report for members, setting up the potential for today’s rally:

The confluence Fib Grid above suggested we first target a sell-swing toward 2,182 as a possible short-term DOUBLE BOTTOM pattern has occurred at this key target level.

As seen best on the intraday chart – and now on the daily chart – price is just ABOVE our official/logical target level.  Be careful here as price could turn and rally higher WITHOUT officially touching the exact target.

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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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?

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

Continue Reading…

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