All is Saved Bullish Market Update and Stock Scan June 23

Jun 23, 2016: 2:47 PM CST

We’re all saved!  The United Kingdom is expected to remain within the European Union, and stock prices surged on the news.

As long as this doesn’t change, we’re updating our charts and strategies accordingly (to the bullish side).

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

This morning I highlighted the breakout into the “Open Air” pocket on the @ES futures.

We’re seeing the same breakout beyond 2,100 (‘Round Number’ Reference Level) for the cash S&P 500 Index.

Continue following the news and stock prices into the evening as actual results are reported.

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June 23 Bullish Breakout Emini Fibonacci Grid

Jun 23, 2016: 11:03 AM CST

With expectations that the U.K. will remain within the European Union, stock prices surged right on schedule.

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

Over the last couple of sessions, we’ve focused on the interplay (bounce) between 2,074 and 2,088 in the @ES.

With the increasing likelihood that the United Kingdom will remain within the European Union, US stock prices rose yesterday, failed at our 2,090 pivot level, and then gapped above this level this morning..

For today’s session and beyond, we’ll be focusing on the “Open Air” green bullish pathway above 2,090.

The open air pathway at the moment extends toward 2,110 and the next ‘bear level’ is 2,088 (if under).

Want these levels and additional analysis/strategy planning in advance each evening?

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Continue Reading…

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June 22 Intraday Reversal Market Update and Stock Scan

Jun 22, 2016: 12:48 PM CST

Price retested the 2,100 key level… but failed to hold it this afternoon.

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

We’ve been focusing on the 2,100 S&P 500 Index level and price challenged – and failed – at this level twice.

We often frame our intraday or swing trades on price moving “toward” or “away from” a key level.

2,100 is that critical bull/bear pivot level right now.

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Continue Reading…

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Breakout from Fibonacci Grid Emini Update June 22

Jun 22, 2016: 10:06 AM CST

While price bounced between our upper Fibonacci Grid Levels, this morning we’re seeing a possible breakout.

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

Over the last couple of sessions, we’ve focused on the interplay (bounce) between 2,074 and 2,088 in the @ES.

With the increasing likelihood that the United Kingdom will remain within the European Union, US stock prices rose.

For today’s session and beyond, we’ll be focusing on the “Open Air” green bullish pathway above 2,088.

If price falters and reverses down against 2,090, then we’ll adopt a bearish plan while under 2,087.

Want these levels and additional analysis/strategy planning in advance each evening?

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

Continue Reading…

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The Critical Support Breakdown Trading Level for GILD

Jun 21, 2016: 2:10 PM CST

If you’re trading – or thinking about trading – Gilead Sciences (GILD), take a look at this key level right now.

Here’s the critical “Support or Breakdown” price area on which to base your trades right now:

Traders profited wildly from investing in Gilead Sciences from 2011 to 2015.

However, late 2015 into 2016 has been far less kind to investors as price plunged from $120 to the current $80.00 level (a 33% decline in a year).

For pattern-loving traders, a Head and Shoulders Reversal Pattern (complete with negative divergences) developed from 2014 to present.

We’re focusing on the Neckline or Support Pivot of the pattern at the $80.00 per share level.

The 200 week SMA overlaps the Neckline at the $81/$82 per share level.

With the divergences, distribution pattern, and decline in bullish volume, watch the $80.00 per share level. Continue Reading…

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