Buyers continued their relentless campaign of accumulating stocks as the S&P 5oo broke to new lifetime highs. 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: In a…
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…
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…
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…
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….
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…
I’m thrilled to know that logic prevails and price is doing what it “should” at the moment. Odds overwhelmingly favored a pullback/retracement toward lower Fibonacci Retracement levels for the @ES and right now – as we start December – that’s exactly what we’re seeing. Here’s today’s updated Emini (@ES) trading levels for your trades: As…
I’m still surprised with how quickly Dryships (DRYS) surged from $5.00 to $100.00 but even more impressed with the even faster speed it collapsed from $100.00 back to $5.00. Dryships (DRYS) serves as a perfect example of a euphoria pattern shows up on a stock’s chart when fear/greed (in this case extreme versions of both)…
I’m not sure the buyers (bulls) know the meaning of a “pullback” but here we are, near the highs again. All joking aside, Here’s today’s updated Emini (@ES) trading levels for your trades: Buyers aren’t willing to let this November rally die. They’re aggressively stepping in on tiny pullbacks. This shouldn’t frustrate us because we…
Software giant Microsoft (MSFT) continue to be a “strong stock getting stronger” as evidenced by today’s new high. Let’s chart this bullish candidate and plan key levels on which to focus for any trades: On the Daily Chart, we can see short-term pivot support/resistance levels at $56.00 and $58.00. We’re also seeing a new short-term…