Join Corey and Thousands of Your Fellow Traders at the February New York Traders Expo

Feb 8, 2017: 4:08 PM CST

Start planning today!  It’ll honestly be here before you know it and you don’t want to miss out on a profitable start to 2017.

I’m excited to return as a speaker at the 2017 New York International Traders Expo and want you to join me and many of your fellow traders at this one-per-year unique gathering.

I’ve attended and presented many times previously and I always look forward to the NYC Expo.

Not only do you get to meet fellow traders and network, but you also get to attend dozens and dozens of free educational and market forecasting sessions with leading educators and traders in the industry.

You’ll also be able to demo new products, software, and goodies at the expanding Exhibit Hall.

I’ll be discussing it more as the Expo approaches but go ahead and register today and start planning your trip.

As someone who has attended the Traders Expo since 2004 and been a presenter since 2009, you do NOT want to miss this event!

Make sure you’re on the right page with your analysis as you attend planning sessions with leading market analysts, traders, and forecasters.

Will I see you there?  Let me know and I’d love to meet up for coffee if you’re able to attend.

Here’s to a great start to 2017!

Corey

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Gilead Sciences GILD Collapses to Keep Steep Downtrend in Motion

Feb 8, 2017: 3:59 PM CST

“Strong Stocks Keep Getting Stronger while Weak Stocks Keep Getting Weaker.”

Gilead Sciences reminds us of this core trading principle today after breaking powerfully under a key support level with positive divergences, overruling any reversal signal to keep the persistent downtrend in motion.

This stock is nearing a point where it has lost half of its value since mid-2015.

And yes, this weak stock keeps getting weaker.  Here’s the Weekly Chart:

As traders we’re always assessing the probability of a trend continuing or reversing.

Retracement or pullback strategies are designed to give us profits from a trend in motion staying in motion.

However, we have to be on guard for reversal signals such as divergences or price achieving a key target level.

Positive divergences set in motion a possible reversal up away from the $70.00 per share support target.

However, buyers failed to rally and reverse this stock higher off the $70.00 level, keeping the big downtrend in motion. Continue Reading…

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Keeping the Range Going at the Highs Feb 8

Feb 8, 2017: 12:45 PM CST

We’re seeing a series of small ranges develop in the @ES Emini.

Today gave us an expected swing down to a key Fibonacci Level and a reversal up away from it.

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

Here’s a quote to reference from Tuesday’s member report:

For now we see a small SIDEWAYS TRADING RANGE between 2,285 and 2,295 (yellow highlight). KEEP playing within this range until we get a breakout, likely lower toward 2,280

That’s indeed precisely what we saw happen – AND the reversal up away from 2,080.

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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Pullback Planning for Disney DIS Ahead of Earnings

Feb 7, 2017: 3:08 PM CST

Disney (DIS) reports earnings after the closing bell today.

Let’s study the set-up – a pullback or breakdown – that would likely trigger as we step into Wednesday.

Here’s the current uptrend and two prior pullbacks for Disney shares:

First, Disney (DIS) shares formed a reversal off a positive divergence and kick-off in November.

From there, we’ve seen shares rise from the $90.00 level to the current peak into $112 per share.

We can see two successful – if not textbook – pullback/retracement (bull flag) trades in January.

These are great examples from our ongoing Perfect Pullback Lesson series that help you understand this concept quickly and in more detail.

While we’re seeing a clean, persistent uptrend in price (which we want to see), we’re seeing cracks in the foundation.

What do I mean by that?  Look at both Volume and Momentum. Continue Reading…

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Emini Ping Pong Trading at the Range Highs Feb 7

Feb 7, 2017: 2:53 PM CST

Last week’s breakout sent the market back toward the prior high.

However, today we’re seeing another pullback from the high to a key pivot Level.

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

Here’s a quote to reference from Monday’s member report:

For Tuesday we’re bullish above 2,285 and 2,290 into the “Open Air” pocket to keep the tiny range going.

With price AT the highs, we’re seeing a natural consolidation and pullback in motion at the moment.

A new “tiny” range has developed between the 2,295 @ES level and the 2,285 level as highlighted.

Beneath that we have our short-term Fibonacci Grid levels in play (as highlighted).

Frame your trades – and thus the game plan – on trading the departure (up/down) away from our achieved 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…

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