Retracing Market Update July 5 and Big Stock Scan

Jul 5, 2016: 1:46 PM CST

We’re seeing a logical sell-swing retracement in the market to a key target level.  Let’s focus on it now.

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

After four up-days in a row following the Brexit, we’re seeing a stable retracement down away from the 2,100 target level.

We have new @ES Fibonacci Grid levels for short-term or intraday traders as seen in this morning’s post.

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July 5 Expected Emini Retracement Fibonacci Grid

Jul 5, 2016: 10:58 AM CST

With negative divergences into a resistance target, we’re seeing a logical retracement down in the @ES today.

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.

While I may update this grid to be more specific, we have a NEW @ES short-term Fibonacci Level Grid.

We’re focusing on the 2,080 level which was today’s gap-down point.

As long as price is beneath this level we’ll target the lower support level (38.2%) at 2,061.

Depending on what happens at 2,061, we’ll plan and update accordingly.

Each Fibonacci Level is both a target to play toward (intraday) or a possible reversal point to play.

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

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Make or Break Support Bounce in Goldman Sachs GS

Jul 1, 2016: 12:49 PM CST

With the Brexit chaos, shares of Goldman Sachs (GS) plunged to a critical support level and are now bouncing up away from that essential pivot.

Let’s pinpoint this level and note the price pathways to trade into the near-term future.

Our clear pivot-price level is the $140.00 per share support.  Note the yellow highlight above.

We saw a reversal up away from this level in mid-2013 and early 2016 and now it appears that we’re seeing a similar reversal up away from the $140 pivot price.

The weekly chart highlights $155.00 as an initial upside target or even $165.00 as a higher target.

Keep the weekly chart target levels (moving averages) in mind as you view the Daily Chart: Continue Reading…

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July 1 New Month Emini Fibonacci Grid Morning Update

Jul 1, 2016: 11:19 AM CST

Believe it or not July begins afresh today.

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.

I brought back the wider (larger) Fibonacci Grid to the members last night and here we are with the prior levels.

Price fully achieved the final 23.6% level just shy of 2,090 and that level was our planning parameter for today.

We were bullish on the initial bounce (rally) through this level and are now challenging the 2,100 @ES pivot.

Price remains bullish through the “Open Air” pocket above 2,090 toward the prior high at 2,110.

For now, focus on the precise midpoint where we are now at 2,100 @ES.

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June 30 Brexit Never Happened Emini Fibonacci Update

Jun 30, 2016: 11:13 AM CST

We’re collectively waking up to a dream where the Brexit happened but in the real world, it didn’t.  It was just a dream.

Ok that’s not actually true but the violent down-move was countered the last three sessions with equally strong up-moves in price, erasing the down-action following the U.K. “Brexit” vote.

Despite that, as was the case last week, our Fibonacci levels held and helped guide us through the journey.

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.

I brought back the wider (larger) Fibonacci Grid to the members last night and here we are with the prior levels.

After falling toward the 1,985 “127.70″ Extension, price reversed powerfully higher through all lower levels.

We’re now playing with the 2,075 @ES pivot which has been a key price pivot level through most of June.

Note your updated (previous) levels and adjust your trade plans to the departure between these levels, starting today with 2,075.

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

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Continue Reading…

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