We’re back into the 2,180 prior high target and plotting our next move along with the market. Here’s today’s updated Emini (@ES) trading levels for your trades: We saw a shallow, sideways pullback after a series of negative divergences, though buyers found support and acted at the 2,155 @ES Level. The market has been relatively…
The talk of the trading community this week is the impossible, raging rally in Dry Ships (DRYS). We leave the reason aside and follow the price. Let’s update our chart from the original post I made for you on November 14th. Before looking at today’s “what happened next” chart above, take a moment to read…
Though not stellar so far, price is pulling down away from the 2,180 @ES pivot. Here’s today’s updated Emini (@ES) trading levels for your trades: We saw a shallow, sideways pullback after a series of negative divergences, though buyers found support and acted at the 2,155 @ES Level. From there, we had the triangle breakout…
After the surprise US Election outcome, we’re seeing a flood of money into Financials, presumably on the expectation the new Republican administration will ease regulation and provide tax cuts that a Democratic administration would not have provided. Whatever the logic, the reality is that funds have flooded into Financials, crashing the sector to the upside….
We’re still seeing price trade at the highs after a sideways pullback instead of a downward retracement. Here’s today’s updated Emini (@ES) trading levels for your trades: The prior swing high is just under 2,190 which is an upside target for the current market. We saw only a minimal, sideways pullback from our negative divergences…
It’s not often you see a stock go from beneath $5.00 to $40.00 in three days. However, that’s precisely what happened post-Election for Dry Ships (DRYS). How’d it happen and where is it going from here? Let’s learn a few lessons and get prepared: As chart-based traders, we’re often agnostic to the intricate specifics of…
Our divergences at the high continue to stall the market just ahead of a key breakout. Here’s today’s updated Emini (@ES) trading levels for your trades: Negative momentum and Breadth (Market Internal) divergences INTO this resistance give us pause. Ultimately price reversed down away from the 2,170 target (discussed with members last night). We’re seeing…
After Tuesday’s US Election, we’ve seen rapid movement in the intermarket landscape. Let’s focus on the sharp “Return to Trendline” movement for US Treasuries: As I’ve been highlighting to weekly members, Bond Prices remain in a rising parallel trend channel. With the negative divergences in the summer at the upper trendline, we’ve been expecting a…
A key pattern – with visual negative divergences – is forming at the retest highs. So far we’re playing today like yesterday. Here’s today’s updated Emini (@ES) trading levels for your trades: Negative momentum and Breadth (Market Internal) divergences INTO this resistance area gave us pause. Ultimately price reversed down away from the 2,170 target…
Additional bullish price action after the election sent us to our prior high target into 2,170. Here’s today’s updated Emini (@ES) trading levels for your trades: Negative momentum and Breadth (Market Internal) divergences INTO this resistance area gave us pause. Ultimately price reversed down away from the 2,170 target (discussed with members last night) and…