Technology and Utility ETFs Go Their Own Way XLK XLU

Aug 16, 2016: 11:00 AM CST

“You can go your own way!” was famously sung by Fleetwood Mac and for the moment that’s exactly what the Technology and Utility sectors are doing right now.

Let’s take a look at these diverging ETFs, one of which flashed green and the other flashed red in our model.

We’re seeing the XLK Technology ETF (top) and the XLU Utilities sector ETF on the Daily Chart.

We have a color-rule algorithm based on Average True Range that defines the “swings” (up and down) in price.

While these funds – and all Sector SPDR ETFs – are strongly positively correlated, sometimes they diverge.

We can pick up on signals or clues from these departures from the norm – when funds “go their own way.”

Technology stocks have rallied strongly into August, continuing the uptrend with the market.

However, Utility names – which are thought to carry safety similar to bonds – diverged with a strong sell swing. Continue Reading…

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Small Pullback from the Highs Emini Fibonacci Grid Aug 16

Aug 16, 2016: 10:41 AM CST

Pullback?  Updated levels?  Uptrend continuing?  Let’s take a look at our morning update.

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

Here’s a reference guide of how to use and trade from these morning updates.

As price stair-steps higher, we have to keep expanding our short-term Fibonacci Retracement Grid.

The new levels – based on yesterday’s high into 2,191 – include the 2,179 level on which we’re focusing now.

Price currently trades exactly at this level and we’ll use it as today’s pivot.

A bounce targets the high while a breakdown targets initially 2,177 then 2,172.

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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Start Your Monday with Corey and the Timing Research Show

Aug 13, 2016: 8:48 PM CST

I’m excited to announce that I’ll be returning to join a an exciting and informative live discussion panel with several expert traders being put on by TimingResearch this coming Monday August 15th!

It’s always a fun and educational group for you so be sure to register now (free) and join us live!

Date and Time:

- Monday, August 15th, 2016
- 1PM ET (10AM PT)

Guests:

- Tom Essaye of SevensReport.com
- Adam Johnson of BullseyeBrief.com
- Dean Jenkins of FollowMeTrades.com
- Corey Rosenbloom of AfraidToTrade.com

Click here to learn more and sign up!

Can’t attend?

Register now anyway in order to receive the archive recording.

Did you know that over 9,000 traders have weekly access to a unique crowd-sourced sentiment report provided by TimingResearch.com

The panel will discuss this unique sentiment data and each of the expert traders’ thoughts on coming market conditions.

Join us and you’ll become a part of TimingResearch’s massive social experiment to develop a crowd-sourced sentiment indicator.

You’ll gain an edge that is unseen by the general public.

Each week, TimingResearch surveys a large and diverse group of traders to get their thoughts about current market conditions.

Next they use proprietary formulas to distill that knowledge into a weekly report that comes out on Sunday afternoons, and publishes it for their members only.

These are fun panel events where we discuss the current markets, opportunities we’re seeing, and help you plan your trading week in advance.

Join us live this Monday, August 15th at 1:00pm EST (10:00am PST).

Thanks to David and the whole team for making this event possible for us!

Corey Continue Reading…

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Gold Gone Wild with High Volatility Reversals

Aug 12, 2016: 2:02 PM CST

Gold (@GC) picked up volatility with large gaps and intraday strong reversals.

Let’s pinpoint the recent high-flying (and crashing) action and put it into the larger context.

Here’s the 15-min “gappy” chart:

In August we’ve seen Gold plunge from $1,380 to $1,340 and then half-way back again… and then back to the low.

Note the Bear Trap on August 9th, the Bull Trap on August 10th, and the big swings all this week.

All of this took place from the intraday triangle breakdown at $1,370.

With this spike in volatility and gaps, let’s put Gold’s action within a bigger context for additional clues: Continue Reading…

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US Steel X Falls to Critical Support Pivot Trade

Aug 12, 2016: 11:16 AM CST

US Steel (X) surprised with a steeper retracement than expected, collapsing down from $28 to $21.

The $21.00 per share level proves to be a critical target (achieved) and is a key pivot support level.

Let’s study this level – why it’s important – and what the trade might be from here:

US Steel (X) is an uptrending “stronger getting stronger” stock that broke through resistance ($21.00) in July.

Price surged to the current high above $27.00 only to collapse back to the $21.00 support pivot.

Price shattered the rising 20 day EMA and now trades into the price pivot (blue) and 50 day EMA.

We’ll use this as a critical planning pivot, expecting a bounce up away from $21.00 to be a bullish support trade. Continue Reading…

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