Pullback or Another Head Fake Emini Planning Grid July 15

Jul 15, 2016: 12:50 PM CST

“Fool me once, shame on you. Fool me twice, shame on me.”

That’s exactly how it feels right now with this “Ok I’m pulling back now… just kidding!” market.

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.

The bulls have been tricking us with repeated aggressive overnight buying.

We still can’t use downside (lower) Fibonacci Retracement Grid levels WITHOUT an actual retracement.

Price may have “double-topped” (short-term) with more divergences into 2,164.

In the event price DOES actually pull back from the current 2,160 pivot, look for a move back to the opening gap and eventually down toward 2,120.

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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Nonstop Bullish March Update and Stock Scan July 14

Jul 14, 2016: 2:21 PM CST

Buyers continued to short-squeeze the market through to new all-time highs!

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

We’ve seen numerous bullish upside gaps result in bullish trend days lately as the short-squeezed bullish rally continues.

Today we saw a surprise break through the 2,160 level that extended the S&P 500 toward 2,170.

Despite an intraday pullback – another one like yesterday – buyers stepped back in to close the market at the highs.

Receive daily updates, planning, and education by joining the Afraid to Trade Premium Membership.

Continue Reading…

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Strong Stock YUM Brands Breaks to New Highs

Jul 14, 2016: 11:15 AM CST

We look for “strong stocks getting stronger” because they offer better chances of profiting from joining into the strong trend.

Take a look at this week’s post on the “Top Ten Stocks Breaking to New 52-Week Highs” for more info.

YUM! Brands is such a stock that power-gapped higher this morning after its earnings report post-market close yesterday.

Let’s chart the weekly trend and highlight today’s  gap into a key target as the “strong stock strengthened.”

The Weekly Chart highlights a flat to rising pattern with price reversing – on positive divergences – off the $66.00 per share pivot in early 2016.

From there a strong uptrend propelled price through the “Open Air” pocket into the current target high near $90.00 per share – the 2015 high.

The “air is thin” at this level as evidenced by the long upper candle shadows suggesting a strong resistance into this zone.

Let’s drop down to the Daily Chart to pinpoint today’s gap into our $90.00 upper target zone: Continue Reading…

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The Can’t Stop Won’t Stop Bull Market Fibonacci Grid July 14

Jul 14, 2016: 10:58 AM CST

Despite tricking us into believing the market would actually pull back (retrace) yesterday, the bulls proved they had one more ace up their sleeve.

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.

The bulls tricked us with another round of aggressive overnight buying.

We still can’t use downside (lower) Fibonacci Retracement Grid levels WITHOUT an actual retracement.

We can instead look to extension targets and the main play will be at the 2,185 level.

In the event price DOES actually pull back from the current 2,160 pivot, look for a move back to the opening gap and eventually down toward 2,120.

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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Now We Can Use our New Emini Fibonacci Grid July 13

Jul 13, 2016: 1:12 PM CST

Retracement grids don’t help us when the market is breaking higher and NOT retracing!

However, today’s session may be the beginning of a short-term retracement in price and if so, these updated target levels are very important.

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 we saw the last couple of updates, we don’t use retracements when price is power-trending or short-squeezing higher.

We buy pullbacks on the way up and then await an eventual pullback (retracement).

With the negative divergences, odds do favor a swing down away from the 2,150 level.

What’s the initial target?  2,111.50 which is not only the prior pre-Brexit closing high but the 23.60% retracement.

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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