Emini Playing into Critical Fib Support Level Today March 20

Mar 20, 2017: 11:31 AM CST

After yesterday’s Fed Day, stocks surged back toward the prior high, breaking their Fibonacci Grid.

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

After a post-Fed Day Surge, stocks stalled shy of the 2,390 level.

From there, the Emini traded back down toward its key 2,370 Fibonacci and price level where we saw a bounce this morning.

We’re focusing once again on this critical Bull/Bear pivot and will frame our short-term trades in terms of the departure “away from” 2,370.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

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Emini Heading Toward the Highs March 16 Update

Mar 16, 2017: 1:46 PM CST

After yesterday’s Fed Day, stocks surged back toward the prior high, breaking their Fibonacci Grid.

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

For a bit of context and extra planning, see yesterday’s “S&P 500’s Fourth Successful Bull Flag in Motion” post.

We’re still monitoring the bullish action emerging from the breakout above 2,370.

Note the Neutral and then “Alternate Thesis” breakdown bearish pathway beneath 2,370.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

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Here Goes our Fourth Successful SPX Bull Flag Since November

Mar 15, 2017: 1:56 PM CST

If you’re keeping track, the market is poised to complete its fourth successful Bull Flag Retracement since reversing higher in November 2016.

While it’s an impressive feat, it’s our job to make it profitable as price continues the bullish pathway.

Here’s the pattern and potential pathway to more profits as the uptrend continues:

Since November, price touched the rising 200 day SMA and buyers intervened aggressively, reversing the mid-year weakness into late-year impressive strength.

From then, three small pullbacks or retracements – tiny Bull Flags – set-up and triggered.

We generally buy on a retracement to the rising 20 day EMA in a strong uptrend.

For a more detailed method of how we do this, check out our “Perfect Pullback” strategy series.

The minimum (smallest) target is a retest of the prior high and the goal is often to hold as long as possible, exiting when price breaks under a rising trendline during the rally. Continue Reading…

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Fed Day Fibonacci in the Emini Gameplan March 15

Mar 15, 2017: 12:11 PM CST

It’s the Ides of Mach! And a Fed Day! Do you know where your Fibonacci Levels are?

If not, no worries! That’s what I’m here for.

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

We have a possible Double-Bottom or Dual V-Spike Reversal (arrows) at the 38.2% Fibonacci Level (2,352).

Our other near-term active level is the 2,369/2,370 level, although price established a resistance line near 2,373.

Note the green “Bullish Breakout” pathway to new highs or the red “Bearish Breakdown” path beneath 2,370.

Otherwise we remain neutral within this range until the Fed raises rates today… I mean, announces their decision.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

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Emini Bounces Between our Fibs Again March 14

Mar 14, 2017: 10:22 AM CST

We’re still seeing range action between our key short-term Fibonacci Levels in the Emini @ES.

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

The gap-down this morning collapsed price away from the 2,370 level back toward the 38.2% level at 2,352.

At the moment, we’re seeing an initial intraday rally/reversal higher away from this key pivot for a second time.

Focus on these levels as you trade today’s session ahead of Wednesday’s big Fed Day.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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