General Electric GE Finds Tiny Rounded Reversal Bounce

Sep 1, 2017: 1:10 PM CST

General Electric (GE) is a horrendously downtrending stock but we’re seeing a big counter-trend bounce taking place now off support on positive divergences.

Let’s step inside this price action, paint a target, and plan for the future swing yet to come:

GE Rounded Reversal Bounce

Shares peaked at $33.00 per share last July 2016 and have been strongly downtrending since then.

Price is down 25% from the high in a daily chart downtrend.

For the second time since May 2017, we’re seeing a positive divergence help send shares higher on a bounce off support.

Last time price rallied through the falling 20 day EMA and peaked just above the 50 day EMA before resuming the downtrend in motion.

Aggressive traders can play the bullish swing “up away from” the $24.50 level “toward” the $26.00 target this time in the event we get a similar short-term (counter-trend) bounce outcome.

Other traders can await to short-sell the retracement toward this target, playing for the downtrend to continue into the future.

The bearish downtrend would end with a stabilization at the $24.50 level and multiple closes above the 50 day EMA.

Until then, odds favor trend continuation lower – as trends in motion tend to continue rather than reverse.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day. Continue Reading…

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Market Slices through Fibonacci Grid like a Hot Knife through Butter

Aug 31, 2017: 11:34 AM CST

Wow, that was fast!  Stocks rebounded like a rocket off our 2,425 Fibonacci Pivot.

Let’s chart today’s @ES Fibonacci Grid in play:

Emini @ES Intraday Trend Reversal

I highlight these levels develop a game-plan for the next trading day for our members.

The prior gap-down (overnight) sent the market back to our 2,425 level and ended the session at our 2,448 “50%” pivot.

The next day (yesterday) took us UP toward our 2,458 pivot where the market closed.

Today we’re seeing a strong gap UP toward our “Final Fib” level of 2,469 at yet another key short-term pivot.

Remain bullish (playing for 2,500) if price remains firmly above 2,470 or else cautious within the Fibonacci Grids if price trades down away from 2,469.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day. Continue Reading…

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Snapchat SNAP Beneath Major Resistance Target in Downtrend Aug 30

Aug 30, 2017: 1:27 PM CST

If you’ve been trying to find a bottom in Snapchat, August may have been your month.

Price rallied up toward the falling 50 day EMA target, and we now await a breakout event or a simple resumption of the downtrend with the current “bear flag” trade opportunity against resistance.

Which scenario will prevail?  That’s your trade!

Snapchat SNAP

Take a moment to review our prior post “Aggressive Bottom-Fishing in Snapchat” which set up the aggressive trade to our current target at the $15.00 per share level.

With that trade successful, we now prepare to trade – without bias – either a BREAKOUT scenario (above $15.50 with stop beneath $15.00) or perhaps more likely the BEAR FLAG retracement trade “down away from” $15.00 back toward the $12.00 per share level (stop above $15.50).

It’s your choice when to enter and how to manage the trade, but either way, price MUST depart AWAY FROM the $15.00 per share level… and you can build a trade from that price movement.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day. Continue Reading…

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Emini Plays the Fibonacci Levels like a Fiddle Aug 30

Aug 30, 2017: 1:16 PM CST

We finally got a breakout of our Fibonacci Grid!!!  Here’s today’s big update in price action.

Let’s chart today’s @ES Fibonacci Grid in play:

Emini @ES Intraday Trend Reversal

I highlight these levels develop a game-plan for the next trading day for our members.

Yesterday saw a gap-down to our 78.6% level (overnight) and a strong intraday rally back inside the highlighted range.

Today gave us a big breakout through 2,448 which set in motion a play UP toward our 2,457 level which is achieved right now.

For the rest of today, use 2,457 as your bull/bear pivot and play the departure from our target.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day. Continue Reading…

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Daily Charting the Dollar Breakdown and Gold Bullish Breakout

Aug 28, 2017: 1:20 PM CST

Let’s expand the perspective on today’s “Dollar Drop and Gold Breakout.

The two charts below compare the divergent Daily Trends of the Dollar and Gold:

Gold Breakout

Gold surged in early 2017 off the $1,150 price pivot quickly toward the $1,300 target.

From there, an $80 sideways trading range developed, allowing us to play “ping-pong” trades between these support and resistance levels.

Instead of falling down a third time from our target, Gold buyers triggered a breakout this morning, initiating a “short-squeeze” with bullish activity.

The picture is the exact opposite in the US Dollar Index:

Dollar Breakout

We see “Angles of Descent” follow the price lower.  Note how the downtrend accelerated through 2017.

Odds seemed to favor a bounce up away from the 92.50 target but that didn’t materialize today, and Friday gave us a good clue (with the strong sell day) that sellers had the strength to shatter this proposed support level.

Now the index trades beneath support at a fresh new 52-week low.

Unless these two events are one-day traps, look for these trends to continue with breakout events.

Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day. Continue Reading…

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