Mar 6, 2015: 11:27 AM CST
Luckily, Friday’s session is exciting – certainly not boring at all!
Let’s quickly chart four related strong/impulsive morning moves occurring after the US Jobs Report:
Again, this is just a quick comparison – use these as springboards for additional analysis and trading opportunities.
Stocks broke sharply under the 2,100 pivot and have moved lower in a liquidation swing – which is the logical play.
Gold similarly continued a sell-swing in motion as buyers failed to hold the $1,200 level – collapsing price lower.
Treasuries also failed to hold – or reverse off – the 127′00 level and now protective Treasuries extend their intraday downtrend with gold.
The big winner today so far is the US Dollar Index as it builds off an accelerating intraday uptrend and breakout above 96.00. Continue Reading…
Mar 5, 2015: 3:04 PM CST
Stocks stabbed at the lows with more sharp rallies today, as we’ve seen over the last few sessions.
We’re now seeing a sideways triangle consolidation at key levels with a clear pathway forward.
Let’s update our key levels, highlight the divergence, and of course note trending stocks today:
Note the sideways intraday triangle trapping price around the 2,097 pivot (midpoint) level.
The falling upper trendline – where we’re at now – appears at 2,103 while the rising lower trendline intersects 2,096.
Continue playing the range as price bounces between these trendlines.
Also, be ready to trade a breakout above the 2,104 level or under 2,095 for a possible impulse.
Mar 4, 2015: 2:05 PM CST
Today’s session is playing out identically to yesterday’s session, with the early down-move and the reversal off the lows.
We’ll highlight yesterday’s structure and note whether we see a further repeat of the pattern… or perhaps something different (like a sell-swing into the close).
We’ll update our key levels, highlight the divergence, and of course note trending stocks today:
Stocks were again logically weak in the morning but saved with an intervention buy power reversal off the morning lows.
Stocks traded up through the falling moving averages, and if you compare the red and green arrows, you can see the identical structural (price) repetition, which is a concept I highlight and document each time to members.
For now, the key intraday pivot level is 2,100 and we’re watching a departure lower away from this level now.
Should buyers intervene again and take price back above 2,100, we’d be bullish.
Until then, compare yesterday’s closing session with what happens for the remainder of today.
Mar 3, 2015: 11:52 AM CST
What looked like a possible bullish breakout devolved today into a trap as Copper buyers failed to hold the breakout level.
Let’s update our chart of Copper – and ETF JJC – and plan where were go from here:
Similar to Crude Oil, Copper fell through the end of 2014 and at the beginning of 2015, though a positive divergence developed at the lows.
A spike reversal took price all the way again like oil – to the falling 50 day EMA (blue).
Copper prices – seen here with the @HG futures contract – initially broke the level into $2.640 but soon fell back under the pivot point to trigger a possible Bull Trap.
Note the $2.6000 level as the short-term bull/bear pivot level. Continue Reading…
Mar 2, 2015: 1:27 PM CST
I wanted to invite you to a free educational webinar from long-time trader (and clear educator) John Carter.
Tuesday at 8:00pm EST, John will discuss insights on how to “generate consistent trading results” in the new markets of today’s environment.
I’m a long-time colleague and affiliate of John’s work and support his efforts to educate the trading community.
He also released a brief, straight-to-the point video which you can view ahead of Tuesday’s webinar.
Entitled “Why I Trade Options for Consistent Account Growth,” John breaks down the following chart in far simpler terms:
If you’ve attended any of John’s prior webinars, you know he presents with a practical, common-sense approach.
In addition, he has a way of explaining trading strategies and tactics in a simple, folksy style with examples and personal experiences.
John’s work can serve as an introduction to new traders, or a source of new ideas for experienced traders.
I hope to see you there!