Dec 15 VSpike Reversal Intraday Update and Stock Scan

Dec 15, 2014: 2:12 PM CST

After what looked like a positive opening, stocks continued their sell-swing lower, breaking the 2,000 support level.

A bullish divergence and V-Spike Reversal took price back to – then under – 2,000 which will be our focal point for the day.

Let’s update our levels and highlight the strongest trending stocks to trade for the moment:

For now, the 2,000 index level will be key for planning real-time trades and strategies today and perhaps beyond.

The market is downtrending on the lower frames and completing a retracement on the higher frames.

Continue Reading…

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Dec 11 Power Rally Intraday Update and Stock Scan

Dec 11, 2014: 1:57 PM CST

Right on cue, and directly from the key confluence level I highlighted yesterday, the bulls intervened to thrust this market higher again with a sharp retracement swing higher.

Should we have expected anything different?

Let’s update our levels and highlight the strongest trending stocks to trade for the moment:

Buyers rushed to prevent the ongoing sell-off from a double-bottom play off 2,025.

This led to a powerful short-squeeze and bull-dominated impulse to the current 2,055 pivot level from which we’ll frame today’s session.

A clean trigger break above 2,055 – which seems less likely due to the divergences and falling TICK channel – would simply trigger another short-squeeze bullish play toward 2,060 and higher.

More likely, the market consolidates within the 2,050 and 2,055 range.  However, be prepared to short a trigger-break under 2,049.

Continue Reading…

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Look Out Below if this Simple Support Level fails for the SP500

Dec 10, 2014: 5:46 PM CST

The S&P 500 has retraced quickly to a known support target and we’ll focus on this current confluence level with great interest.

Let’s highlight this level and plan a pathway if buyers fail to intervene here as they’ve done in the past (on the weekly chart).

A simple plan would have us focus on the 2,020 highlighted confluence of the September price high with the rising 50 day EMA.

You can actually see recently how price has broken under the 50 day EMA for a continued retracement (August and then October).

Simply stated, our focus should currently be on the 2,020 for a bounce-rally or support-break sell-off. Continue Reading…

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Dec 10 Breakdown and Breakout Intraday Update with Stock Scan

Dec 10, 2014: 2:36 PM CST

After a stellar intraday reversal yesterday, sellers continued their pressure today with a breakdown Trend Day.

Let’s update our levels and highlight the strongest trending stocks to trade for the moment:

Our key focal point yesterday was the 2,035 level from which the V-Spike Reversal developed

Price traded toward the 2,060 level and now has fallen sharply lower on dual divergences back to the 2,035 target level.

Simple as it is, we’ll continue to reference 2,035 as the intraday pivot where aggressive short-sell trades develop under and cautious/neutral bullish plays develop above it.

Continue Reading…

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Fibonacci Price Level Planning Grid for Tesla TSLA

Dec 9, 2014: 3:12 PM CST

What broader price levels are important for trading (or planning trades in) Tesla?

Let’s chart our broader Fibonacci Confluence Grid and find out where these levels overlap for targets and entries:

The chart above shows how I constructed the Fibonacci Confluence Grids.

For planning, be sure to view the tighter-zoomed chart below: Continue Reading…

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