A Key Make or Break Level Here for Russell 2000 and IWM

Aug 18, 2015: 10:11 AM CST

The Russell 2000 Small Cap Index has shown relative weakness to the S&P 500, but the index – and the IWM ETF – are at key pivot levels traders should know.

Let’s update our chart and note the bull/bear pivot point level for our trading plans:

The chart above shows the Russell 2000 Index on the Daily Chart with our key level highlighted.

In simplest terms, the 1,225 level is our key bull/bear pivot zone going forward.

Note the overlap of the falling 20 day EMA with the rising 200 day SMA (moving averages).

This is providing an upper wall of resistance for price; however, this does not mean buyers can’t break through the ceiling.

Thus we’ll reference 1,225 as our key pivot level where we’ll once again trade bearishly “down away from” this level but be prepared to trade a short-squeeze fueled breakout “up above” 1,225 toward 1,230.

Note that a continued breakout higher sets in motion a play toward the 1,240 target as highlighted.

We can see the same levels operating on the popular ETF symbol IWM (Russell 2000): Continue Reading…

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August 17 Range Reversal Update and Trending Stock Scan

Aug 17, 2015: 2:13 PM CST

The broader consolidation continued as price reversed strongly off support this morning.

What levels are we focusing on now? Let’s see!

First, be sure to view Monday’s “Thrilling, Non-Stop, Exciting Trading Range of 2015” for context.

We have an update THIS Monday of more of the same:  “Yes, We’re STILL In the Trading Range.

A “stab” into the 2,080 support level resulted in a huge bullish buy-impulse and short-squeeze up away from this support level.

PRice rallied up into the 2,095 midpoint and then exceeded that with the current rally – on divergences – into the 2,100 Round Number Reference.

We’ll be carefully focusing all our attention on the 2,100 pivot and will continue trading bullishly above it within the range… neutral between 2,095 and 2,100… and bearish under 2,095 for simple level planning.

Follow along with members for more precise daily planning, analysis, and education.

Continue Reading…

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Yes We Really Are Still Within a Simple Trading Range

Aug 17, 2015: 11:03 AM CST

We begin the new week at the midpoint of our broader trading range rectangle in the S&P 500.

In fact, we’re seeing a short-term Triangle within a larger Rectangle – a deep consolidation.

Let’s update our charts and note these new developments… within the exact same levels.

First, please take a look at LAST Monday’s update “The Thrilling, Non-Stop, Exciting Trading Range of 2015” and note that absolutely nothing has changed.

We’re STILL within the same broader trading range despite a Stick-Save Reversal last Wednesday that triggered an intraday-only Bear Trap.

Other than that, price continues to trade up off the support of the rising 200 day SMA (Simple Moving Average) and bounce above and beneath the Midpoint or Magnet level of 2,095.

Price currently trades into the 2,100 key reference level which is the basis of our planning.

For reference, the upper Resistance Ceiling is near 2,130 and the lower Support Floor is the 2,070 level.

Here’s a tighter zoom of these key pivot (and planning) levels: Continue Reading…

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Aug 14 Big Stock Scan and Intraday Range Update

Aug 14, 2015: 2:52 PM CST

After a volatile Wednesday, stock prices settled into a welcome trading range consolidation to end the week.

What levels are we focusing on now? Let’s see!

First, be sure to view Monday’s “Thrilling, Non-Stop, Exciting Trading Range of 2015” for context.

We’re simply seeing a continuation of this higher timeframe Trading Range structure, despite a trap.

For now, the 2,083 key pivot (today’s low) and the 2,091 S&P 500 levels are our reference levels going forward.

We’ll keep playing “Ping-Pong” between these levels and get ready for another pro-trend bullish breakout higher that could travel toward 2,100 and beyond.

Otherwise, another break under 2,085 that carries under 2,085 would set in motion another bearish pathway.

Follow along with members for more precise daily planning, analysis, and education.

Continue Reading…

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Buying and Trading Levels for Amazon AMZN

Aug 14, 2015: 1:22 PM CST

What levels are key for traders in Amazon.com (AMZN) now?

Based on these levels, what are the “Price Planning Pathways” to targets?

Let’s start with the Daily Chart and update our trading levels:

Amazon.com (AMZN) developed a “Gap and Consolidate… then Rally” Pattern through 2015 as drawn.

After an initial earnings gap, shares consolidate and support on rising moving averages.

The next “swing” or pathway has been an upward rally into the future.

We’re balancing the odds of this pattern repeating a third time on the July “gap and consolidation.”

If so, notice the support reversal candle off the $520.00 per share level at the rising 20 day EMA.

We’ll be “bullish” above the $520 pivot and “breakout trigger bullish” above $540.

A bearish sell pathway develops under the 20 day EMA near $520.

Let’s zoom-in the perspective to see these levels closer: Continue Reading…

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