Amazon AMZN Breakout and Bullish Dominance Continue in May

May 12, 2016: 10:55 AM CST

Amazon.com (AMZN) shares continue their strong bullish dominance and a new breakout opportunity continues to deliver profit to active bullish traders.

Let’s note the larger trend and focus on the current breakout to new highs in an ongoing powerful uptrend:

“Stocks which are strong tend to get stronger” and Amazon (AMZN) continues to strengthen powerfully.

We see a strong, persistent uptrend (except for 2014) on the Weekly Chart.

2015 was a particularly bullish year for shares as price doubled from the $300.00 level to $600.00 and beyond.

An early pullback to $500.00 in 2016 set the stage for the power-rally that propelled price from $500.00 to $700.00 where we have our current breakout.

The larger trend is up and that creates additional opportunities on the lower timeframe: Continue Reading…

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Wide Range yet Fibonacci Levels Still Hold Emini Update May 12

May 12, 2016: 10:40 AM CST

After a bit of surprise this morning with a gap-up (into a target) and collapse back to lower levels, price developed a wide-range morning session (20 @ES Points).

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

Our short-term Fibonacci Retracement Grid remains effective in planning short-term swings and trades.

We’re often building our game-plan on price moving “toward” or “away from” a key level – these Fibonacci Retracement Levels have been effective targets to play trades toward and then away from (retracements) the pivots.

Our active levels today are the 2,070 pivot and 2,048.  Price traded through 2,060 without stopping.

As we’re making sense of today’s wide-range volatile session, note these levels and the other indicators you’re using to enter and manage your trades.

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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Pullback Market Update and Big Trending Stock Scan May 11

May 11, 2016: 1:04 PM CST

The “bullish reversal play” was successful and price traded down again its short-term target today.

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

As we saw from this morning’s post and the prior planning in the membership, price successfully rallied up away from the 2,040 pivot (on massive positive divergences) toward upper targets.

Yesterday price traded into the 2,080 (2,077 in the @ES Futures) on negative divergence (see chart above) and we’re now seeing the short-term pullback (retracement) as expected and planned.

We’re watching the 2,070 level and noting any reversal or continued breakdown at this pivot target level.

Receive daily updates, planning, and education by joining the Afraid to Trade Premium Membership.

Continue Reading…

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Expected Retracement Emini Planning Update May 11

May 11, 2016: 12:36 PM CST

The rally took price into our Fibonacci Retracement level just shy of 2,080.

We expected a pullback (retracement) from this level and that’s precisely what we’re seeing.

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

From last night’s report, we were cautious/bearish into the 2,080 target in the @ES Futures.

Today’s morning session saw the pullback take price to our 2,068.50 target where we’ll focus our attention now.

Note the highlighted pivots from the short-term Fibonacci Planning Grid.

These levels will remain in effect until price breaks under 2,035 or above 2,100 so keep them as a reference.

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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The Apple AAPL Support Bounce Challenge May 10

May 10, 2016: 10:15 AM CST

Apple (AAPL) shares face a critical support bounce challenge – a key opportunity for traders – at the $92.00 level.

Let’s focus on this level and plan a trade on the departure from this immediate level.

We’ll start with the Daily Chart:

Apple (AAPL) rallied on positive divergences “up away from” the $92.50 level in February 2016.

Price rallied all the way back to the falling 200 day SMA (red) above $110.00 per share.

From there, a negative momentum and volume divergent preceded a reversal back to the downside as the downtrend continued.

Now, Apple traders face a similar “Will it Bounce or Will it Break” simple trading plan once again at $92.50.

I’d prefer to see a postive divergence or more sideways action develop at this level before trading bullishly.

Nevertheless, compare February 2016 to May 2016 for a similar trading opportunity and plan.

We can pull the perspective back to the Weekly Chart for a Bullish Bounce AND a Bearish Breakdown Plan: Continue Reading…

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