Surprisingly Volatile Intermarket Reactions to End the Week

Apr 7, 2017: 2:07 PM CST

This morning’s lower-than-expected Jobs Report didn’t shake up the equity market, but we’re seeing big reactions Friday in three key markets (and a surprise in one).

Let’s chart our intermarket grid and prepare ourselves for additional study over the weekend:

I’ll be briefing members fully this weekend but wanted to share a quick insight about money flow to end the week.

Put all these charts above in context of a FLAT or SIDEWAYS move today in stocks.

Gold surged higher along with US Treasuries – a defensive market – which is logical given the bearish Jobs Report.

However, we saw severe COLLAPSES in these markets mid-day with price erasing the gains and then some.

On the other hand, Crude Oil continued its uptrend creep higher above $52.00 per barrel.

The other surprise is the US Dollar Index which gapped up this morning and then surged higher this afternoon.

Watch these markets carefully into next week. Continue Reading…

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Range Trading the Jobs Report April 7

Apr 7, 2017: 2:00 PM CST

After a surprisingly lower monthly Jobs Report number, equity prices shrugged it off without a reaction.

As such, we remain within our new short-term trading range between two key Fibonacci Levels.

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

I wish I had more information for you but the market remains within our trading range.

Keep playing the departures from the high and low of the range – and remaining neutral – until we get a breakout.

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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A Pullback and Elegant Intraday Rounded Reversal for AMZN

Apr 6, 2017: 1:04 PM CST

Amazon (AMZN) appeared as the #2 top stock in our compression scan recently and it didn’t disappoint us with a powerful breakout impulse to all-time highs.

However, today we’re seeing a standard “fade” or retracement trigger away from the highs.

As I noted yesterday – and wanted to highlight for you today – Amazon set up one of the most elegant intraday reversal patterns I’ve seen.

Let’s take a look at the pattern for your educational and planning resources:

I run stock scans and publish the results to members, and Amazon topped our list of “Squeezed and Compressed Stocks Ready to Breakout.”

We can see what happened next with a multi-day rally and breakout from $860 to $920 in a week.

That alone is a great educational resource in the “Range Alternation” principle of price behavior.

Nevertheless, Wednesday gave us a shooting star bearish reversal candle (daily) and today gives us a strong sell-day lower as price retraces down from the $920 achieved high.

While the pattern (reversal candle above upper Bollinger) is impressive, the lower timeframe reversal is stellar: Continue Reading…

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An Emini Bull Trap Back inside our Fibonacci Grid April 6

Apr 6, 2017: 11:01 AM CST

In reaction to yesterday’s Fed Minutes report, sellers collapsed the market back inside our larger Fibonacci Grid.

However, buyers stepped in this morning exactly at our 38.2% level. Exciting!

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

Traders hate traps but they are a factor of trading life.

Yesterday’s Bull Trap (failed initial breakout) sent shares tumbling back toward our key 2,345 target.

This morning’s rally took us – for now – to the midpoint of our highlighted Fibonacci targets within the range.

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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A Surging Breakout April 5 Emini Update

Apr 5, 2017: 10:24 AM CST

Here we go! Bulls are back in control with today’s opening action and Fib Grid breakout.

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

A “Bull Flag” or “ABC” Elliott Correction took us toward the 61.8% larger Fibonacci Level.

Buyers surged back into the market, reversing price higher off the 2,320 key reversal target.

From there, the 23.6% and upper trendline served as a key target at which point sellers swiftly stepped in.

However, good economic data set the stage for a bullish breakout above the “Final Fib” pivot and upper trendline.

We’ll remain bullish in breakout territory unless/until price us back under the 2,365 upper Fibonacci Pivot.

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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