May 23 Emini Update Bouncing Between the Fibonacci Levels

May 23, 2016: 10:15 AM CST

A narrow opening range contains the price movement of the @ES between two key Fibonacci Levels so far.

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

Take a moment to see the broader Fibonacci Grid for reference.

At the moment we’re focusing our attention on the 2,054 level which was Friday’s resistance high.

It could also be today’s high if sellers can keep the price contained within this range.

If so, we’ll focus on a sell-swing down toward 2,042.

However, note the green upside pathway IF buyers succeed and push price beyond 2,054.  If so, we open the market up to 2,063 and possibly the 2,073 levels as future upside targets.

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

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Successful Fibonacci Grid for May 20 Emini Update

May 20, 2016: 10:02 AM CST

We’re already seeing success from our updated Fibonacci Retracement Grid this morning.

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

Take a moment to see yesterday’s update and the broader Fibonacci Grid for reference.

I successfully pinpointed an intraday reversal event that took place midday yesterday.

Today, we’re seeing the new short-term levels come into play right now with the expected reversal up away from the 2,020 level through the 23.6% level at 2,041 and now a possible reversal against 2,053.

Look closely at the updated levels and use them as your short-term targets and possible pivot points as usual.

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

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May 19 Collapsing Bear Emini New Level Update

May 19, 2016: 11:11 AM CST

Yesterday’s FOMC Minutes release collapsed the market back to the key 2,040 pivot and today’s session takes us under that support level.

What’s the next target and have we achieved it yet?

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

Take a moment to see yesterday’s update and the Fibonacci Grid for reference.

I’m showing a wider (larger) Fibonacci Retracement grid from the prior February low to the April high.

We’re focused on the 2,018 or 2,020 @ES level which is roughly the 38.2% Fibonacci Retracement as drawn.

We’re seeing intraday positive divergences develop into this level for a possible bullish reversal up here.

IF that does not happen AND the @ES breaks under 2,018, then we’ll likely see a bearish future ahead.  More details for members.

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

Continue Reading…

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Target TGT Suddenly Targets the Prior Low

May 18, 2016: 1:22 PM CST

Before you could say “Clean-up on Aisle 7,” Target (TGT) shares slipped to the prior swing low.

Traders now have a “Make or Break” opportunity to play a departure from this critical support … target.

Let’s see how it developed and where we trade from here:

Even though Target (TGT) beat the Wall Street estimates on earnings today, revenue weaker.

Reasons aside, price gapped down from an ongoing sell-swing from $83.00 to the prior low of $66.00.

Price support-bounced initially after the morning gap-down but stagnated between $70.00 and $66.00.

For an educational lesson, note the negative divergences (red arrows) that undercut the April high.

Here’s the bigger picture for Target (TGT) shares with a possible aggressive opportunity: Continue Reading…

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May 18 Bouncing Bull Emini Target Plan Updates

May 18, 2016: 12:27 PM CST

This is now the third major intraday bullish retracement and surge up away from the 2,040 @ES Level in May.

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

As I mentioned yesterday, we changed our Fibonacci Retracement Grid to an upward retracement structure.

We’re seeing a strong bullish reversal up away from 2,040 (like May 6th) toward both the 2,049 and now the 2,060 upside Fibonacci Targets.

We discussed this likely outcome for members in last night’s planning – it’s great when price does what it should!

Note the rally up toward our 2,060 target – a breakout here opens another path toward 2,070 while a successful “test and reverse” makes us cautious between 2,049 and 2,060.

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

Continue Reading…

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