Fed Day Fibonacci Emini Planning Levels June 15

Jun 15, 2016: 1:05 PM CST

No surprise!  The Federal Reserve didn’t raise interest rates today.

As we see the programmatic buying boost price higher, let’s highlight our Fibonacci Target Levels for the @ES.

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

To set the stage, here’s a quote from last night’s Strategy Planning Report for members:

“The reversal candle, intraday divergences, and tomorrow’s FED DAY (where they absolutely 100% won’t raise rates) all suggest a BULLISH BIAS to tomorrow’s session.”

“We’re actually going to flip and state a likely BULLISH BOUNCE bias for tomorrow, meaning we’re aggressively bullish above 2,070 and 2,073 (@ES Fibonacci Level).”

Ultimately, that’s exactly what’s occurring.

With rapidly moving price at the moment, note the 2,062 level, today’s 2,074 target, and the (as stated last night) “bullish above 2,073″ (cautious beneath) which we’re seeing after the Fed didn’t surprise us whatsoever by not raising rates.

Want these levels and additional analysis in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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Pullback Planning for Amazon AMZN June 14

Jun 14, 2016: 10:17 AM CST

Have you updated your “Pullback Trading Plan” for Amazon (AMZN) if you’re currently trading it?

Buyers wish for stable pullbacks in strong, uptrending stocks and we have a moment like that in AMZN.

Here’s the quick-glance at the chart and our objective plan at our critical support level:

For full information on how we identify trends, classify pullbacks, then enter/manage trades, check out our “Perfect Pullback” strategy.

Until the negative divergences undercut the rally, Amazon was a strong uptrending stock with multiple pullbacks (retracements) that allowed traders to buy into support ahead of expected bounces.

We’re at a similar point now but the divergences give us pause that wasn’t present on earlier pullbacks.

Mainly we have an uptrending stock retracing into the rising 20 day EMA at $710 per share.

There’s two ways price can go:  “UP away from” the pivot to continue the uptrend or “DOWN toward” the rising 50 day EMA at $680 per share.

We don’t make predictions, but instead trade the price action as it moves toward or away from key pivots. Continue Reading…

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Seriously the Fibonacci Levels are Magic Emini Update June 14

Jun 14, 2016: 10:05 AM CST

In the membership and morning Emini Updates, we’ve been expecting a logical pullback to lower levels.

So far, that’s precisely what we’re seeing and intraday traders have been able to profit from the pullback.

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

Here are the the bullet-points from prior updates ahead of the pullback:

  • A short-term Ascending Triangle developed between the 2,100 and 2,115 price levels.
  • Negative divergences undercut (fail to confirm) the new highs into the 2,115 resistance target.
  • The market is overextended and (arguably) overbought.

Price is currently falling (retracing) faster than it rallied from the May lows.

So far, price achieved three downside Fibonacci Targets (intraday) and is now breaking rapidly toward a fourth.

Today’s opening low was the 50% Retracement at 2,062 which gave way to a rapid bounce up to the 38.2% level at 2,073 from which a faster sell-swing took the price back to the 2,062 level and then beneath it.

We’re now playing down toward the 2,050 pivot level.

Want these levels and additional analysis in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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Gold Surges toward Key Prior High Target

Jun 13, 2016: 11:52 AM CST

As I highlighted Friday, Gold was surging toward the $1,300 prior price high and key target level.

Today, we’re seeing additional progress toward that key focal point.

Let’s update our charts and note the trading planning here:

Before updating our Daily Chart target planning levels, take a moment to appreciate how powerfully and persistently Gold trended “up away from” our $1,200 target now “toward” the $1,300 level.

That’s how we frame the picture and trading plans for Weekly Intermarket Strategy Report Members.

Negative momentum divergences undercut the rally into $1,300 and suggest a cautious plan as we trade just under the $1,300 level.

Here’s the bigger picture from the Daily Chart: Continue Reading…

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More Magic Planning with Emini Fibonacci Target Update June 13

Jun 13, 2016: 11:18 AM CST

Like Friday’s morning bounce, we’re seeing our expected price swing play out to our lower Fibonacci Target.

It’s still not magic, but it’s quite impressive and helpful for making your trading decisions intraday.

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

Here are the the bullet-points from prior updates ahead of the pullback:

  • A short-term Ascending Triangle developed between the 2,100 and 2,115 price levels.
  • Negative divergences undercut (fail to confirm) the new highs into the 2,115 resistance target.
  • The market is overextended and (arguably) overbought.

Price initially bounced up off the 2,087 downside target then broke under this level late Friday.

A journey “down toward” the next Fibonacci Target at 2,074 took place which brings us to where we are now.

A gap-down thrust the market back into our 2,088 target level and then rapidly back to 2,074.

Use 2,074 and 2,088 as the current targets … and if we see a break under 2,074 then the next level is 2,062.

Want these levels and additional analysis in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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