Emini Pullback Planning Fib Grid Update Sept 6

Sep 6, 2016: 10:03 AM CST

We’re still trading within a short-term range with tiny probes outside the key boundaries.

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

Here’s a reference guide of how to use and trade from these morning updates.

In simplest terms, we’re focusing on the 2,180 level and the 2,172 level.

Right now, these are roughly the intraday highs and lows and within the immediate Fibonacci Grid Levels.

Continue playing the “ping-pong” between the grid and prepare for the short-term breakout that may occur.

Want these levels and additional strategy planning 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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Three Push Pattern to a Reversal in Lululemon LULU

Sep 2, 2016: 9:26 AM CST

The “Three Push” Pattern is one of my absolute favorite price patterns to play.

Lululemon (LULU) – fresh off a bearish earnings surprise – gives us the most recent example of this larger pattern and teh powerful reversals that can “surprise” traders not aware of the bearish reversal pattern.

Let’s see it and study it:

The “Three Push” or “Three Drives to a Top” Pattern is a classic reversal chart pattern.

The main idea is that a trend – once established – has greater odds to continue until the weight of the evidence confirms a reversal.

Lengthy (multiple) negative divergences along with a stand-alone “Three Push” Pattern tilt the balance to the “reversal” side as opposed to trend continuity.

The main idea is that price “pushes” or “thrusts” (swings) up in three roughly identical impulses (I labeled them on the chart above) and then the buyers become tired and lose the supply/demand battle.

The build-up of negative momentum and volume divergences further increase the odds that you’re correctly seeing a Three-Push Pattern develop in real time. Continue Reading…

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Jobs Report Blows Market through Fibonacci Grid Sept 2

Sep 2, 2016: 9:08 AM CST

Oh my gosh it’s time to rush out and buy all the stocks because the Jobs Report was weaker than expected and the Unemployment Rate ticked up!

Sarcasm aside, that’s exactly what happened as economic weakness decreases the odds that the Fed will raise rates, which is bullish.

If it doesn’t make sense to you, welcome to the new normal of our Fed-stimulated market.

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

Here’s a reference guide of how to use and trade from these morning updates.

Price broke down under the 2,160 level into a Stick-Save Intervention play which thrust the market back into our main Fibonacci Grid.

Like a magnet, price power-rallied higher toward – and now above – our upper 2,179.50 level.

The market entered a bullish short-squeeze into the prior highs and ‘open air’ territory between 2,180 and 2,190.

Want these levels and additional strategy planning 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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Tesla TSLA Follows our Bearish Rounded Arc as Expected

Sep 1, 2016: 10:09 AM CST

Tesla (TSLA) shares are precisely following our analysis that a sell-swing is coming, via the beginning of a Rounded Arc pattern.

What was the original analysis? See the prior post entitled:

“Beginning a Bearish Arc Lower for Tesla TSLA” and compare that with today’s collapse.

It’s exactly what should have happened:

On the Daily Chart we’re seeing the acceleration lower as price completes a Mirror Pattern.

Think of it like a “Rounded Reversal” or “Rainbow Arc” pattern where the right side of the pattern – as it develops – mirrors (looks like) the left side of the pattern.

Once price broke under the $220 level, odds favored an acceleration lower toward $200 then the $190 level.

Again, that’s EXACTLY what is happening in real time.

Here’s the intraday chart for clarity on the arc: Continue Reading…

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Emini Breaking Through our Fibonacci Grid Update

Sep 1, 2016: 9:59 AM CST

We’re still within the trading range and price is still reacting to our short-term @ES Fibonacci Grid.

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

Here’s a reference guide of how to use and trade from these morning updates.

Here’s a direct quote from last night’s short-term strategy planning for members:

It’s possible that we’re now seeing a ROUNDED REVERSAL or ROUNDED ARC pattern take place in the intraday frame.

If so, the next eventual move would be a swing down away from (under) the 2,160 level toward 2,145 in the @ES.

Be on guard for this bearish development.

At the moment, that’s exactly what’s happening with the current rejection (reversal) at our 2,172 target and now breakdown under 2,160 as planned.

Want these levels and additional strategy planning 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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