Apple AAPL Surges with Surprise Breakout May 9

May 9, 2017: 10:40 AM CST

All seemed lost in the moments following Apple’s (AAPL) most recent earnings announcement.

Bearish projections were rampant as bears took a victory lap that share prices would finally collapse.

The problem is… they were completely, spectacularly wrong.

Here’s what happened next as the triple-timeframe uptrend continued and a “strong stock got stronger:”

First, know that our core strategy aims to find relative strength based on the principle that “stocks which are strong tend to get stronger.”

Apple – along with many technology stocks – remained persistently at the top of relative strength (uptrend) scans.

Buyers aggressively overtook sellers even after an initial negative reaction to earnings last week.

Still, price surged and performed a big breakout activity yesterday, extending price comfortably above $150.00.

Note the volume and momentum spike that occurred along with the breakout.

Higher prices remain favored due to the uptrend structure and new confirmation from volume.

Fun times, Apple investors! Continue Reading…

1 Comment

A Morning Pullback from the Highs Emini May 9 Update

May 9, 2017: 10:29 AM CST

Back to the highs we go!  And then – this morning – back down away from them.

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

Friday gave us a big bullish breakout of the short-term (highlighted) trading range above the 2,380 support pivot.

Yesterday gave us a pullback to retest the breakout at the 2,390 level with price gapping back to the high today.

Price is trading between simple levels – like 2,380, 2,390, and 2,400 – so keep these in focus as you continue to play the “toward” and “away from” style of game planning.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

Comments Off on A Morning Pullback from the Highs Emini May 9 Update

Hanging at the Highs Emini Update May 8

May 8, 2017: 11:58 AM CST

It was correct to assume stocks could continue higher and achieve their 2,400 target once again.

What now?

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

Friday gave us a big bullish breakout of the short-term (highlighted) trading range above the 2,380 support pivot.

Today gives us a pullback to retest the breakout at the 2,390 level.

Price is trading between simple levels – like 2,380, 2,390, and 2,400 – so keep these in focus as you continue to play the “toward” and “away from” style of game planning.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

Comments Off on Hanging at the Highs Emini Update May 8

Surprise and Wonder as Stock Support Holds May 5

May 5, 2017: 2:06 PM CST

Were you surprised stocks held their support line and rallied higher?

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

We shouldn’t be surprised, given how many times price (sellers) tested the 2,380 level and buyers supported it.

There were even two Bear Traps (failed breakdowns) that were clues to hidden bullish strength.

Here we are, closing the week with the market running once again toward the 2,390 level near all-time highs.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

Comments Off on Surprise and Wonder as Stock Support Holds May 5

The Commodity Crush Continues Lower May 4

May 4, 2017: 2:22 PM CST

Just how low can Gold and Oil go during the recent commodity crush lower?

Let’s update our charts and highlight the recent sell-swing phases in these commodities:

Yesterday we highlighted the “Rounded Arc Reversal Pattern in Gold” for an educational resource.

Today we see stronger selling as the reversal (sell-swing) continued, breaking the support of the prior low.

Oil similarly gapped strongly through support today, sending both commodities to new swing lows.

While Gold is “only” down 5% in the hourly chart above, Oil collapsed 15% in the same period.

Oil fell roughly $10.00 per barrel which is a huge move in about two weeks.

There are risks and rewards to trading commodities which tend to show persistent price action when a swing gets in motion. Continue Reading…

1 Comment