October 6 Stock Scanning and Market Update

Oct 6, 2014: 1:37 PM CST

Today’s session has been a reversal range session between clear boundaries.

Let’s start with our S&P 500 Chart and highlight the top trending stocks of the day:

Price rallied up into the key inflection (target) near 1,980 and turned sharply lower after the opening gap.

However, price found support as buyers rushed to support the market at the 1,960 pivot, creating a “neutral” zone between 1,960 and 1,980.

A clean breakthrough impulse above 1,980 continues our “Repeat Pattern” outcome, which you can learn more about from our morning update post.

At the moment, let’s continue our practice of market neutrality (range) or else a bearish breakdown bias under 1,960 (or breakout/higher timeframe trend continuity trigger above 1,980). Continue Reading…

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Battle Between Repeating Pattern and Resistance for SP500

Oct 6, 2014: 10:32 AM CST

Will a consistent pattern repeat for the fourth time in 2014 (propelling the market to new highs) or will stocks fail into their current resistance level?

Let’s take a quick look at the current S&P 500 and plot these price pathways as our guide.

Let’s focus first on the “Repeating Pattern” of 2014.

I’ve been highlighting this pattern to members and so far, we’re seeing a textbook “Pattern Repeat” scenario.

Note the three highlighted areas where price fell sharply under the rising 50 EMA (blue) only to be halted forcefully by an intervention wave of buying pressure that stopped the decline and triggered a short-squeeze.

A “Short Squeeze” occurs when sellers enter the market and then are forced to buy-back to cover losing positions when price unexpectedly (to them at least) rises sharply through resistance which triggers their collective stop-losses. Continue Reading…

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Join Corey Monday for a Panel Discussion Forecasting the SP500

Oct 4, 2014: 11:55 AM CST

I’m excited about a special opportunity Monday afternoon to join a panel and discuss the current market and potential opportunities (and direction!) of the S&P 500.

The panel is hosted by David Kosmider of TradingResearch.com and we’ll be joined by Sean McKisson of 360WallSt.com.

This is a free and open event for all and will take place at 1:00pm EST / 10:00am PST.

Details and more information – including registration – are provided at the following link (click here).

Here’s a few more details about the discussion:

The panel will discuss this critical phase of market and how to avoid the risks to come. As well, you’ll discover where they see the best opportunities.

Click here to learn more and sign up!

Each week, TimingResearch surveys a large and diverse group of traders to get their thoughts about current market conditions.

Next they use proprietary formulas to distill that knowledge into a weekly report that comes out on Sunday afternoons, and publishes it for their members only.

Date and Time:
- Monday, October 6, 2014
- 1PM ET (10AM PT)

Thanks to David for the opportunity and I look forward to seeing you there!

Corey

Continue Reading…

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Quick Fibonacci Retracement Guide for Current Market Levels

Oct 3, 2014: 2:38 PM CST

I wanted to provide a quick Fibonacci Retracement reference guide for short-term levels in the Big Three US Equity Indexes (Dow, S&P 500, and NASDAQ).

Without further delay, let’s focus on the key Fibonacci Levels we can incorporate into our trading and analysis:

I’ll simply refer to the reference levels in this post – be sure to incorporate them into your current planning.

The two upper levels for the S&P 500 include the 1,973 “50%” level along with the upper target of 1,984 (61.8%).

We’re focusing our attention now on the 50% line which could serve as today’s inflection point (resistance).

However, a further breakthrough above here opens the market to lay for 1,984. Continue Reading…

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Big Bullish Reversal Intraday Update and Stock Scan Oct 3

Oct 3, 2014: 2:15 PM CST

Finally the bulls made their strike – they were ready to pounce after a series of sell-days struck the market.

Today’s session was a powerful reversal with bullish action virtually across the board.

Let’s start with our S&P 500 Chart and highlight the top trending stocks of the day:

Before we discuss today’s session, let’s take a quick look at a chart I posted for members last night (here is how to become a member of our daily and weekly commentary):

I posted this chart last night as part of our game-planning section to highlight the lengthy dual positive divergences in the Momentum Oscillator and NYSE Market Breadth.

The quick takeaway is that price favored a reaction or impulse UP off the V-Spike Reversal level which set the stage for today’s breakaway upward rally.

The target point was into the yellow highlight as drawn, which is exactly where price trades at the moment.

Keep in mind that we’re seeing the @ES futures contract along with the S&P 500 “SPY” ETF and the exact price levels are slightly different yet the structure is the same.

We reference th3 50% Fibonacci Level and the ‘value’ area near the $197 (1,970) level as our focal point for today’s session – it has already been achieved.

A further push or breakout beyond $197 sets in motion a potential play toward the 61.8% Level just above $198 (1,980).

Continue Reading…

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