Something Strange in Sector Relative Strength Jan 5

Jan 5, 2017: 4:19 PM CST

What signal is money flow across sectors sending, and what’s strange about it?

Let’s take a look at our nine Sector money flow model and hear the message from the market:

Here’s what we’re seeing in the nine line charts above:

It’s each of the nine AMEX Sector SPDRs (XLF Financials, XLU Utilities, etc) in a Relative Strength Line.

In other words, the chart is NOT the price, but the relative strength line to the S&P 500.

When the line chart is RISING, that means that the ETF is rising faster than – or stronger than – the S&P 500.

Similarly when the chart is FALLING, the ETF is falling faster than – or weaker than – the S&P 500.

The purpose is to go beyond the price and measure each ETF with the same metric – the S&P 500.

In a rising market, you’d expect to see the top three “bullish” or offensive sectors strong and that’s what you see…

Except for one.  Notice how XLY Consumer Discretionary has been downtrending all of 2016 and the RS Line just hit a new low this January.

That’s not supposed to happen! Continue Reading…

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A New Emini Range at the Highs January 5

Jan 5, 2017: 2:25 PM CST

The market has a bullish beginning to 2017 but right now, we’re seeing a return to an old trading range.

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

We had an end-of-year bullish reversal on positive divergences off our 2,227 level as price blasted higher to 2,270.

Yesterday gave us a clean T3 Trend Day higher that reversed just shy of our 2,270 @ES level.

For now, we’re noting price trade between the prior range boundaries between 2,251 and 2,269 as highlighted.

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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Join Us Live TODAY to Plan your 2017 with Corey and Wyckoff Analytics

Jan 4, 2017: 1:15 PM CST

Let’s start 2017 on the right pathway!

I’m honored to join Roman Bogomazov and Bruce Fraser for our panel discussion and market planning for 2017.

We’ll begin after market close at 3:00pm PST / 6:00pm ESTRegister now and attend with us today:

Here’s the official description of what to expect and how you’ll benefit from attending:

Join Wyckoff experts Roman Bogomazov and Bruce Fraser online as we interactively analyze the current status of the market and discuss the outlook for 2017, focusing in particular on sectors and industry groups that we see as possibly outperforming the overall market.

We are honored to be joined for this two-hour session by acclaimed trader/author Corey Rosenbloom, CMT who will give his own take on what’s in store in 2017.

The Market Outlook and Stocks Review has become a very popular event; come see why we have had traders attending nearly every week since we began this program two years ago.

Time permitting, we will also discuss YOUR current positions and trade candidates.

Don’t wait!  Register now and attend with us live!

Corey Continue Reading…

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The Crude Oil Extraordinary Engulfing Day Jan 4

Jan 4, 2017: 12:33 PM CST

Bullish or Bearish Engulfing Candles are rare in general, but it’s even more exceptional to see a single session “engulf” or completely overtake the total price action of the prior TEN trading session.

That’s what happened yesterday in Crude Oil and we’re seeing a big push higher off the prior support low.

What’s an Engulfing Day (candle) and what’s the plan for Crude Oil today?  Let’s discover!

By definition, a Bearish Engulfing Day (or Candle/Bar) occurs when today’s high is greater than yesterday’s price high AND today’s low is greater than yesterday’s price low.

In other words, today’s price action exceeds both the high and low of the prior trading session.

Generally speaking, this is a rare or uncommon event and it indicates price instability or volatility.

Look at January 3rd’s price action in Crude Oil where the high was $55.00 and the low was $52.00, a $3.00 or 5.5% intraday range.

That’s extraordinary!  It’s certainly worthy of further study.

Crude Oil was poised for a retracement swing lower, and with the exception of the bullish opening gap, that’s exactly what occurred.

Here’s the Daily Chart for better perspective and planning: Continue Reading…

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The Emini Surge Back to the Highs January 4

Jan 4, 2017: 12:13 PM CST

Stocks surged again, continuing the 2017 rally.

We saw another bounce off our Fibonacci Grid into the “Open Air” pocket beneath the all-time high.

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

We had an end-of-year bullish reversal on positive divergences off our 2,227 level as price blasted higher to 2,260.

A huge bullish opening gap yesterday set the stage for a pullback to our 2,238 reversal pivot.

The end-of-day rally Tuesday continued with the breakout above 2,251 this morning and the extended bullish swing through the “Open Air” pocket from the late-2016 trading range.

Focus on these movements between 2,251 and the 2,271 level which is the all-time Emini high – a logical target.

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…

1 Comment
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