Pullback Planning Levels if it Happens Feb 17

Feb 17, 2017: 11:41 AM CST

With another down open, will bulls buy the dip again like yesterday and close us higher?

Or will the pullback strengthen, opening up a sell-swing to lower targets?  Let’s find out our plan.

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

It’s easy to get caught up in euphoria but markets can change rapidly; overconfidence can trap traders quickly.

Here we are with the second pullback to the rising 20 EMA (30-min) along with a new Fibonacci Grid update.

We’re seeing the market retest the 2,340 level but this time on a sideways pullback with a new short-term (intraday) support and resistance pivot.

Note the highlighted colors to indicate the bull or bear (breakout) pathway toward 2,330 or to indefinite new highs.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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We Forgot what a Pullback Was Market Update Feb 16

Feb 16, 2017: 11:02 AM CST

Wait – what is this?  Price can actually go DOWN?

After the last five days, it’s understandable if you assumed we’d be seeing higher prices forever.

Nevertheless, today gives us our second pullback in the big uptrend impulse that catapulted the market higher.

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

It’s easy to get caught up in euphoria but markets can change rapidly; overconfidence can trap traders quickly.

Here we are with the second pullback to the rising 20 EMA (30-min) along with a new Fibonacci Grid update.

The 2,340 target is achieved and should selling pressure break the index under this level firmly, we’d expect another swing down toward the 2,330 target at least.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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Bulls Still Dominate the Highs Feb 15

Feb 15, 2017: 1:30 PM CST

The uptrend continues! And continues… and continues. And still continues even after yesterday’s pullback.

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

We don’t have much to update and we don’t have key levels on which to focus until we get a pullback larger than 10 points.

For now, keep trading with the bulls while price is above the rising 20 EMA and focus on lower timeframes for better clarity and trade management.

This is a remarkable – but certainly not unprecedented – situation and it’s one we’ll likely remember for a while!

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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Six Stellar Stocks Shooting Straight Up Nine Days in a Row

Feb 14, 2017: 8:23 PM CST

When we scan for stocks, we like to find “strong stocks getting stronger.”

One way to do this is to identify stocks closing up the most days in a row.

With the market itself up five days, here are six  S&P 500 stocks up roughly NINE days in a row:

We START a swing trading process by scanning for stocks that catch our attention.

Right now, the following stocks are closing up the most consecutive days in a row:

Google (GOOGL), Biogen (BIIB), MMM, Lockheed Martin (LMT), Yum! Brands (YUM), and Aflac (AFL).

Once we have these candidates, we can decide what to do based on our experience/risk tolerance.

Newer traders should identify a strong trend in motion and aim to buy pullbacks/retracements in that trend.

For that, these stocks will become watch list candidates for future pullbacks (assuming the larger trend is up). Continue Reading…

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Market Internals and the New Pullback from the Highs Feb 14

Feb 14, 2017: 11:38 AM CST

The uptrend continues! And continues… and continues.  Until today’s pullback at least.

Internals have diverged with the breakout and today gave us (at least) an initial pullback from the new high.

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

Here’s a quote to reference from Monday’s member report:

I’m really getting concerned about the stretched market and negative divergences. BE READY and willing to play short against three trend days.

For today’s session, we’ll focus on the 2,320 @ES level and play bearishly toward 2,310 if beneath it.

Otherwise, if this pullback this morning is all we get, we’ll play again with the bulls on another break to new highs.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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