About those Support Levels in Crude Oil…

Nov 13, 2014: 2:20 PM CST

Crude Oil traders have found it impossible to call a bottom (reversal) in the sharp decline in Crude Oil prices.

Admittedly I’ve fallen victim to trying to call that elusive bottom in this strong collapsing market but so far it’s not been the case that oil has bounced for anything but a small retracement against the ongoing tide of selling pressure.

The first thing we learn when we study technical analysis is how important it is to start with the trend and study it.

Trends – once established – have greater odds of continuing than of reversing.

That’s core principle #1 and Oil continues to show why trends – even on short timeframes – are important places from which to build trading strategies. Continue Reading…


Nov 12 Update and Stock Scan Down from the Highs

Nov 12, 2014: 1:35 PM CST

“And now, for something a little different.”

Stocks have traded sideways into the 2,040 S&P 500 level and we can define a short-term range for our trade plans.

Note this morning’s market update on the magic of the 2,040 level and how we’re planning around it.

Here’s our updated levels as the S&P trades through all-time highs:

Our short-term reference levels include the 2,032 price support (double bottom today) along with the 2,040 resistance in the S&P 500.

We’re simply pro-trend breakout (short-squeeze) bullish on an impulse above 2,040… bearish for a possible breakdown (short-term reversal plays) under 2,030, and neutral to trade “ping-pong” between this 8 to 10 point range.

Continue Reading…


Planning the SP500 into the New 2040 Level

Nov 12, 2014: 12:29 PM CST

Market Internals and a Critical Trendline give us clues about how to position into the current 2,040 level for the S&P 500.

Let’s see both of these and update our trade planning:

A Broadening Top or Expanding Trendline pattern continues to plague the market, or at least the charting side of the market.

The upper trendline extends into Tuesday’s high at 2,040 which is our key planning or pivot point.

Ultimately buyers should look to take profits into 2,040 ahead of a likely pullback, and very aggressive short-sellers can be emboldened to attempt a short-term pullback play against 2,040 (placing stops above 2,040). Continue Reading…


Nov 10 More Bullishness Market Update and Stock Scan for the Day

Nov 10, 2014: 2:34 PM CST

We have “more of the same” upside action in the stock market, defying bears all the way to even more new highs.

The short-squeeze continues and we have a repetitive morning pattern to study on the intraday frame (as seen Friday) which continued today.

Here’s our updated levels as the S&P trades through more all-time highs:

Our key pattern is the highlighted region where price traded down in the morning session, only to see a surge of impulsive, intervention buying that helped propel the market higher and trigger the stop-losses of the bears (short-sellers) at each breakout to new highs.

Patterns repeat and we continue to observe this pattern propelling price to new highs.

It’s difficult to buy a grossly extended market, but this ‘creeper trend’ has become the norm lately, so keep that in mind (we have to apply different tactics to impulsive movements like this).

When the market keeps doing the same thing, we’ll keep analyzing and trading it the exact same way.

Continue Reading…


4 Traders Discuss the Upcoming Market Move – Join Me Monday 1pm EST

Nov 7, 2014: 10:23 PM CST

Start next week with a live market panel discussion about the week ahead!

Join me this Monday at 1:00pm EST as part of a live discussion panel with TimingResearch.

The panel will discuss this critical phase of the market and how to avoid the risks to come.

You’ll also discover where they see the best opportunities.

My good friend and colorful colleague Dave Landry will be hosting and if any of you are familiar with him, you know there’s never a dull moment with Dave!

Click here to learn more and sign up!

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.

Can’t attend? Register now anyway in order to receive the archived recording if you are not able to attend live.

Date and Time:
- Monday, November 10, 2014
- 1PM ET (10AM PT)

- Dave Osmond of Metastock.com
- Corey Rosenbloom of AfraidToTrade.com
- Steve Lentz of OptionVue.com

Guest Host:
- Dave Landry of DaveLandry.com

I can’t wait to see you there! And hear what Dave has in store for us…


Continue Reading…

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