The Can’t Stop Won’t Stop Bull Market Fibonacci Grid July 14

Jul 14, 2016: 10:58 AM CST

Despite tricking us into believing the market would actually pull back (retrace) yesterday, the bulls proved they had one more ace up their sleeve.

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.

The bulls tricked us with another round of aggressive overnight buying.

We still can’t use downside (lower) Fibonacci Retracement Grid levels WITHOUT an actual retracement.

We can instead look to extension targets and the main play will be at the 2,185 level.

In the event price DOES actually pull back from the current 2,160 pivot, look for a move back to the opening gap and eventually down toward 2,120.

Want these levels and additional analysis/strategy planning in advance each evening?

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Now We Can Use our New Emini Fibonacci Grid July 13

Jul 13, 2016: 1:12 PM CST

Retracement grids don’t help us when the market is breaking higher and NOT retracing!

However, today’s session may be the beginning of a short-term retracement in price and if so, these updated target levels are very important.

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.

As we saw the last couple of updates, we don’t use retracements when price is power-trending or short-squeezing higher.

We buy pullbacks on the way up and then await an eventual pullback (retracement).

With the negative divergences, odds do favor a swing down away from the 2,150 level.

What’s the initial target?  2,111.50 which is not only the prior pre-Brexit closing high but the 23.60% retracement.

Want these levels and additional analysis/strategy planning in advance each evening?

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The Top Ten Stocks Breaking with the Market to New Highs

Jul 11, 2016: 11:09 AM CST

We believe you should focus your swing trades (and longer-term investments) in “strong stocks getting stronger” as opposed to finding weak stocks that may hopefully one day reverse.

Find what’s strong, jump in, and profit from the trend and relative strength.

With the S&P 500 breaking through to fresh new all-time highs this morning, seventy-nine stocks in the index joined the market by making new 52-week highs, and in many cases, new all-time highs along with the market.

Let’s do a quick scan and pinpoint the Top Ten S&P 500 Stocks breaking to new highs right now:

This simple scan from FinViz.com ranks the stocks in the S&P 500 by distance above the 52-week high.

For example, NVIDIA (NVDA) is 2.45% above its 52-week high right now which Coach (COH) is 1.04% above it.

I’m also showing the Beta value (volatility), Average True Range (another measure of volatility), distance (percent) above the 200 day Simple Moving Average (NVDA is 54.32% above its 200 day SMA), and distance above the 52 week low.

Take a moment to view these symbols (stocks) in your chart platform and you’ll see uptrending beauties like this:

NVIDIA (NVDA) tops the list thanks to its five strong bullish trend days as seen above.

We’re seeing similar upside action like that in May as the uptrend continues and this “strong stock gets stronger.”

Here are six other quick Daily Charts of our leading names right now: Continue Reading…

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Extended Breakout Emini Fibonacci Grid July 11

Jul 11, 2016: 10:44 AM CST

A better than expected Jobs Report Friday and stimulus optimism set the stage for a breakout beyond 2,100 and Trend Day into the “Open Air” pocket beyond the recent @ES  swing high.

We’ll keep pulling our grid higher to keep up with the breakout ahead of a future retracement play.

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.

There’s not much help a retracement grid can give us when price is breaking through to new highs like this.

Price rallied toward our 2,100 level and then power-gapped through it Friday, extending the gains this morning.

We’ll be adjusting the grid and updating you with new levels into next week as usual. For now, enjoy the ride!

Want these levels and additional analysis/strategy planning in advance each evening?

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Big Jobs Breakout Market Update and Stock Scan July 8

Jul 8, 2016: 3:49 PM CST

Jobs are expanding everywhere!

That’s the take-away from the stock market today to the better-than-expected June Jobs Report.

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

Once price gapped up away from the 2,100 pivot level, the buyers overpowered the short-sellers as sellers became buyers (to cover losses).

The short-squeeze impulse took price up in a powerful trend day all day long, closing near the all-time high.

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