May 22 Stock Scan and Range Day Holiday Update

May 22, 2015: 1:18 PM CST

Buyers continue to enact their will on the market, preventing what would otherwise be a logical retracement.

Note the near-term buy-program levels that have served as key price support – the levels have risen today.

Let’s take a look at the current picture and plan the next step:

As we slide into the Memorial Day holiday weekend, stocks continue to trade within the sideways range parameters after the divergent breakout.

Note a Buy-Program support level developing into 2,125 which has extended slightly higher into 2,127 today.

While the market remains within this consolidation, boosted by capital injections at support, we’re simply going to remain on our toes and playing this range, acknowledging and adapting to the bullish money flow holding the stock market up at the highs.

Join fellow members for unbiased, actionable analysis (and stock scans!)in more detail each evening – join the Afraid to Trade Membership today.

Continue Reading…

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New John Carter Video on How to Find Stocks Before Hedge Funds Get In

May 22, 2015: 6:30 AM CST

I really found John Carter’s new video training interesting and learned a few facts I had never considered before.

Hedge funds can propel a low-priced stock higher and John shares a few insights in a new video about what factors often precede these explosive price movements.

Money rotates within the stock market and there are methods to track this movement.

After showing his live account and how this strategy has performed for him this year, John highlights where money is leaving and where it’s likely headed within the market in the near-term future.

John’s video is ambitiously titled “Why NOW is the Best Time to Buy Stocks” but he isn’t referring to the entire market – just specific stocks and areas within it.

Click on over to the video and enjoy the training (I always enjoy Carter’s informative yet engaging teaching style) and get ready for a webinar from my colleague John Carter who I’m always happy and enthusiastic to support.

Corey

Continue Reading…

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Perfect ABCD Pullback Example in Crude Oil

May 21, 2015: 1:13 PM CST

When we last left Crude Oil in our updates, it was trading down into a known support level and we were planning for a support-bounce or else support-break outcome that would set up our next trade.

With Crude Oil indeed bouncing off our support level, let’s step inside the price action to study a perfect example of short-term trade set-ups including the AB=CD “Flag” Style Pattern

Take a moment to review Tuesday’s Crude Oil update as price traded into the target level near $58.00.

Here’s a quick quote which sets the stage for today’s educational lesson:

Focus on the $58.00 level along with the $57.00 lower support confluence which is the April price low and the 38.2% Fibonacci Retracement as drawn.

Keep these simple levels in mind as you plan and trade Crude Oil through the remainder of the week.

Take a look at the chart above – which is an intraday perspective – as Oil tested our key pivot level.

I wanted to highlight an educational lesson which combines two timeframes and a price pattern.

First, Crude Oil was trading down into a key support level as identified.  Continue Reading…

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May 20 Melt Up Market Update and Big Bullish Stock Scan

May 20, 2015: 1:36 PM CST

The market was at risk for a “Melt Up” or “Collapse Higher” today and heated up toward a Melt Up Breakout.

Let’s take a look at the current picture and plan the next step:

Here’s a snippet from Friday evening’s Premium Member Strategy Report that forecast today’s rally:

Thus we’ll officially label our DOMINANT thesis as the breakdown/retracement move to short the market (intraday) on a movement down under 2,130.

That’s not enough.

IF the buyers collude and flood liquidity into the market, forcing a short-squeeze, then you can be assured that price will impulse higher as part of our ALTERNATE thesis which calls for a LARGER than expected move in the opposite direction

Don’t miss out on unbiased, actionable analysis (and stock scans!) like this each evening – join the Afraid to Trade Membership today.

Buyers simply refuse to let the market fall under its own weight and thus BEARS and short-sellers are the ones helping boost the market higher when their collective – unexpected – stop-losses are triggered at higher levels.

After the Fed Minutes, price impulsed to new highs (just after this chart was taken) and that was precisely what was expected as part of our alternate/surprise thesis explained in more detail last night.

Continue Reading…

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Still Planning a Breakout or Reversal in the SP500 Wedge

May 20, 2015: 10:31 AM CST

Is today the day price will break violently higher in a short-squeeze… or else fall back lower within the key price levels of the rising wedge pattern in the S&P 500?

With no resolution yet, let’s update our charts and plan, plan, plan:

Before jumping into today’s analysis, be sure to check out prior updates on the range pattern planning:

Breakout or Bull Trap?  Planning the S&P 500 Right Now (still planning)

“What We Assumed was a Sideways Range WAS NOT Actually a Sideways Range” (important)

“Still on Breakout Watch for the S&P 500″ (surprise – we’re still waiting)

First, notice the red range (wedge) pattern in price – the lower boundary is the 2,100 level while the upper high is the current 2,130 level.

The small candles at the highs – with declining volume – suggest a higher probability from classical technical analysis of a return back to the lower side of the trendline near 2,100.

With that in mind, our alternate and thus “Breakout into Short-Squeeze” Rally thesis will trigger as bulls convert bears into buyers (to cover losses) on an impulse through 2,130.

Reference February 2015 for a similar example of the “two days down into resistance” then almost 10 days in a row to the upside outcome that surprised short-sellers and thrust the market instantly to new highs.

We MUST take that into account when planning the current outcome – price could power-rally straight up again. Continue Reading…

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