Join Me at the Best of Wyckoff 2017 Conference Sat August 19

Aug 17, 2017: 2:34 PM CST

Fellow traders,

I’m excited to announce that on August 19th, I will be speaking in an online conference entitled, “Best of Wyckoff 2017: Practical Applications of the Wyckoff Method,”organized by WyckoffAnalytics.com.

The other speakers are all internationally recognized traders and other Wyckoff experts with over 100 years’ combined experience in applying the Wyckoff Method.

Wyckoff Conference 2017

You will hear from Hank Pruden, David Weis, Todd Butterfield, Bruce Fraser, Stefanie Kammerman, Gary Dayton and Corey Rosenbloom.

This is going to be a stimulating conference, with topics including:

  • Using “Dark Pool” block trade prints to confirm institutional intentions,
  • psychological heuristics in Wyckoff trading,
  • an interactive demonstration of how Wyckoff students develop mastery of structural and supply/demand analysis and trading tactics,
  • proper use of Wyckoff Point-and-Figure counts to estimate price targets,
  • multiple applications of several powerful Wyckoff indicators – the Weis Wave and the Wyckoff Stock Market Institute’s Optimism/Pessimism Index, Force Index and Technometer and, finally,
  • an up-to-date Wyckoffian review and analysis of current markets.

I’ll be presenting at the analysis of current market forecasting panel with Bruce and Roman.

I think this is a great opportunity to learn from some of the country’s most well known trader-teachers.

For more information and to register for Best of Wyckoff 2017, please click here.

I’m looking forward to “seeing” you all online for this unique event!

Corey Continue Reading…

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WalMart WMT Perfectly Straddles the Daily EMAs ahead of Breakout

Aug 17, 2017: 1:28 PM CST

During today’s big sell session, Wal-Mart (WMT) collapsed toward its 50 day EMA target.

However, something interesting happened there which we need to discuss:

Wal-Mart WMT EMAs

Negative divergences and relatively low volume set the stage for a pullback in WMT shares.

Today – on earnings – sellers collapsed the price through the $80.00 support level toward the lower target of the rising 50 day (blue) EMA.

The session low occurred ON the 50 day EMA target … but the session high occurred on another target – the 20 day EMA.

We see a long-legged session with intraday high and low – right now – at Daily EMA levels.

These are perfect swing trading levels to watch, especially if you want to be neutral (not directionally biased).

From the neutral barrier perspective, shares trigger a short-term bullish buy on a break above the 20 day EMA barrier and of course a sell-swing entry beneath it.

Which will happen? Frame your trade in terms of the departure from these daily barriers. Continue Reading…

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Amazon AMZN Fails at Overhead Wall of Resistance

Aug 17, 2017: 11:14 AM CST

I featured Amazon (AMZN) as a bearish swing trading candidate in last night’s member report and this morning we’re seeing initial follow-through in the bearish direction as shares failed at a wall of clear overhead resistance.

Let’s see what’s happened and what to watch now:

Amazon AMZN Daily Sell Swing

In our “Swing Trader’s Zone” of the Idealized Trades Report last night, I highlighted the overhead “Cradle” Resistance from the falling 20 and 50 day EMAs overlapping the $990 per share level.

In the event shares traded “Down Away From” this level – as appears to be the case – the target was the prior low near $950 per share for a quick swing trade (or series of profitable, bearish intraday trades on the pathway lower).

Amazon’s sell-swing today plays into the broader market weakness and is giving profits to those aggressive traders willing to step-up and sell into the resistance pivot.

Continue following this proposed bearish pathway toward the prior low – a critical support pivot – and be on guard for any surprise bullish reversals as price travels the bearish short-term path lower.

For alternate thesis planning, Amazon (AMZN) becomes a breakout bull candidate above $1,000’s critical price and EMA resistance.

Stay tuned!  And join us in the membership to take advantage of our expanding Swing Trading focus mixed with our intraday strategies and tactics. Continue Reading…

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Catching Volatility Explosions 10x Trade Formula Webinar Thursday

Aug 16, 2017: 12:40 PM CST

I’m so excited about this event, given the big explosion in volatility of the last week.

My colleague John Carter of Simpler Trading will be presenting his strategy called “The 10x Trade Formula” and it will specifically teach you how to spot and trade “volatility explosions.”

Here’s additional details and your chance to secure your spot in the free training this Thursday:

The 10x Trade Formula John Carter

During the presentation, you can expect easy-to-understand, plain-spoken tactics from a trader who shows his profits with his education.

I’m a colleague and affiliate of John’s and have happily been so for over six years now.

John Carter 10x Trade Formula Webinar Registration

Thanks to John and his team for making this presentation to us available without cost!

Register above or via this link to claim your spot and join us live this Thursday, Aug. 17.

I’ll be attending to learn what the master is up to now!  It’s always exciting.

Corey Continue Reading…

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Energy XLE Downtrends to New Low

Aug 16, 2017: 11:26 AM CST

So far in 2017 we’ve seen relentless selling pressure in the XLE (Energy ETF).

Here’s the current update as the fund makes yet another new swing low in August:

XLE Energy Downtrend

Like I highlighted this morning in SNAP, “weak stocks tend to get weaker.”

This logic also applies to ETFs and broader markets as well.

The Energy sector is the latest victim of “weak stocks get weaker” as price broke to a new swing low this morning in an ongoing daily downtrend.

Also, when looking to trade a bullish swing trade in a stock scan, take a moment to check the sector trend to increase your chances of a successful outcome.

Given two stocks – one in Energy and the other in an uptrending sector like Technology (XLK) – choose the one with the stronger (more bullish) sector trend.

While it’s not always as clear as this, take advantage of the times it is.

Unless you’re a bear – and making a lot of money here – stay out of the Energy sector until/unless we get a reversal. Continue Reading…

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