Join Corey for a Webinar Thursday July 10 on Trading Short Squeeze Breakouts

Jul 9, 2014: 10:35 AM CST

I’m excited to present a featured webinar with Trader Kingdom this Thursday, July 10th at 3:30pm CST entitled “Stalking the Short-Squeeze:  Protection and Profit from Unexpected Breakouts” and I hope you can join us!

If you’ve been on the wrong side of any surprise breakout event, or want to learn how to profit from buying high-probability breakouts, then this webinar will be perfect for you.

I’ll be discussing both how to protect yourself (which should be the first goal) and then how to profit quickly from these events continue to occur.

You’ll also learn the following:

  • What fuels a short-squeeze
  • Why they are much more common in today’s market
  • How can you protect yourself from these unexpected events
  • What can you do to quickly benefit from the surge of price

The educational event is free and open to all traders – you’ll just need to register and attend live after the market closes Thursday July 10th.

We’ve been using this strategy with success in the daily membership and I’m excited to present these important concepts in a formal webinar for you.

See you there!

Corey

Continue Reading…

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Plotting the New SP500 Price Structure Pathway off Support

Jul 9, 2014: 10:21 AM CST

I wanted to update the simple “Color Price Structure” chart I’ve been showing all week with respect to the simple yet effective price planning pathway for the S&P 500.

Let’s take a look at the current “Color Structure” chart and plan how to trade the current swing already in motion:

To get a sense of what this chart means and how we’ve been following it (first planning a swing down from the upper trendline which occurred yesterday and then planning a likely bounce up off the lower trendline support), see the prior updates entitled:

July 7: Planning the Next (Down) Swing from Resistance – Color Structure

July 8: Planning the Next (Up) Swing from Support- Color Structure

Now we’re seeing the expected up-swing or rally higher off the 1,960 price and rising trendline support level.

For planning now, we still have the ongoing “Dominant” or logical thesis to expect a price swing up at least to the Midpoint or 1,975 level (almost achieved already) and then should price break through the 1,975 midpoint, it triggers another buy signal to target the upper trendline intersecting 1,990.

Of course, we can’t just plan what “should” happen and ignore evidence to the contrary.

The Alternate or Breakdown/Breakout (destruction of the rising parallel trendline channel structure) Thesis triggers on a break then close under the lower rising trendline (and especially the 1,960 index level).  The logical downside breakdown target would include a movement at least to 1,950.

Join me for a Live Webinar Thursday:

Also, I’m excited to be teaching an educational webinar with Trader Kingdom this Thursday (July 10th) at 3:30pm EST entitled “Stalking the Short-Squeeze: Protection and Profit from Unexpected Events” which will help you increase your ability to plan market events (and trading strategies) like this. Continue Reading…

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July 8 Sell Swing Intraday Update and Stock Scan

Jul 8, 2014: 1:20 PM CST

Today continued the expected sell-swing already in motion and price achieved its downside target (see yesterday’s intraday update and level planning to recap the live analysis as it occurred now that we know the outcome).

With price back into a support target level, let’s update our intraday charts and trending stock scan:

The intraday target for the next likely downswing was (and is) 1,960.  Price achieved this level with dual divergences mid-day and now is rallying up off the support level to create a possible bullish “rounded reversal” or trend day that ended into known support.

Watch the price movement above the 1,965 EMA and price pivot (bullish above; bearish beneath 1,965).

It shouldn’t surprise us that Sector Breadth  shows a very bearish picture at the moment: Continue Reading…

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Updating SP500 Structure as Expected and Planning the Next Swing Again

Jul 8, 2014: 10:57 AM CST

If you followed yesterday’s morning update, then you’ll find today’s market action is exactly what was suggested (a sharp downside swing) from the “Planning the Next Swing from Color Structure” chart I highlighted previously.

Let’s update the market, note what happened (faster than expected) and plan the NEXT swing for price:

Be sure to read yesterday’s post so you can set the stage for today’s sharp decline – I also discussed this scenario in the evening planning report for members.

We have the market falling sharply from the upper rising trendline down toward the lower rising trendline target.

I highlighted this as the most logical or most likely outcome, with the alternate (or unexpected) thesis being a surprise breakout higher.

Now, we face the exact same parameters in terms of planning, but this time we start from the bottom and plan a bounce. Continue Reading…

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July 7 Intraday Update Level Planning and Stock Scan

Jul 7, 2014: 12:42 PM CST

What levels are we watching at the moment and which stocks are setting up as potential Trend Day candidates?

Let’s start with our S&P 500 intraday level-watching chart:

SPX July 7

The S&P 500 traded down from just above the 1,980 level on TICK and momentum Divergences into the upper trendline of a rising pattern (see this morning’s update on “Color Structure and Planning the Next Swing”).

The intraday target near 1,975 has already been achieved and we’re looking for any sort of bounce-up (with positive divergences this time) off the potential support inflection target at today’s low.

The market is in the “green buy zone” above 1,976 and otherwise is in the “red sell zone” under 1,975.

Sector Breadth shows a very bearish picture at the moment: Continue Reading…

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