Finally a Sign of Life for Chipotle CMG

Mar 29, 2017: 11:15 AM CST

Chioptle’s (CMG) stock had a bad run of it after collapsing in 2015.

Last year was not kind to Chipotle shares either but could 2017 be the year that breathes fresh life into this downtrending stock?

Today may be a key marker of a trend reversal and new life… or a vicious bull trap.  Let’s find out:

We generally bet on a trend in motion to continue, but we know that (unless a stock goes bankrupt) even persistent trends do not last forever.

With the breakout above the falling 50 week EMA and upper Bollinger Band, we may be seeing the initial signs of trend reversal in Chipotle (CMG) here.

Note the positive momentum divergences all through 2016 and the first firm breakout above the falling 20 week EMA that took us toward – and now above – the falling 50 week EMA.

The next stage would be for price to remain above the 50 week EMA and then the 20 week EMA to cross above it.

Ideally we’d like to see this occur with a visual uptick (confirmation) in volume.

If so, we have a trend reversal in its earliest stages and the birth of a new uptrend that could take us through $500 and beyond.

Here’s the picture to watch closely into April on the Daily Chart: Continue Reading…

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Emini Stalling on a Key Fibonacci Pivot March 29

Mar 29, 2017: 11:01 AM CST

We continue to frame each day’s trading day in terms of our intraday Fibonacci Grid.

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

A surge took us from the 2,323 level through 2,338 and now above 2,351 on a rapid bullish expansion swing.

Now we’re seeing price once again interact with the 38.2% Fibonacci Level at 2,352.

Simply stated, frame your intraday trades in terms of the departure “away from” this level today as usual.

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…

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Join Me Wednesday March 29 for a Live Market Forecasting Panel with Wyckoff Analytics

Mar 28, 2017: 1:09 PM CST

We’re doing it again!

I’m honored to be a guest of Roman Bogomazov and his team at Wyckoff Analytics for a live Market Outlook and Stocks Review.

We’ll be live March 29th at 3:00pm PST (6:00pm EST) with our session.

Here’s more details and how to register (free):

We had a great time on our prior January 4th panel where – if you watch the recording – we were correct about our calls in the S&P 500 (strongly trending higher), Oil (neutral to bearish future), and Gold (bullish rally).

What will Bruce, Roman, and I have to say about these markets today?

Bring your questions and individual stocks and we’ll use Wyckoff and classic technical anlaysis methods to forecast probable price pathways and potential opportunities for the near future.

Join us!

Thanks to Roman, Bruce, and his team for this amazing opportunity.

Corey Continue Reading…

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Surging Through Our Fibonacci Grid Emini Update March 28

Mar 28, 2017: 11:09 AM CST

Today is another victory for our short-term Fibonacci Grid trading plan.

Why? Let’s find out!

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

We got it right again in the strategy planning for members, as I wrote Friday for members:

We’re perhaps nearing the end of the retracement or at least the end of the “C Wave” of the structure.

This would suggest a future downside break toward 2,323.

As you can see, not only did price crash down toward 2,338 but also (so far) held support and reversed UP AWAY FROM our Fibonacci Target.

We’re seeing the continuation of that bounce today, moving through not only 2,338 but now 2,352.

Simply stated, now that buyers brought us back to 2,352, play the departure from here as usual.

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…

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Deere DE Sets up a Rounded Arc Reversal Breakdown

Mar 27, 2017: 2:16 PM CST

The “Rounded Reversal” Pattern takes a while to set-up on the chart but can produce explosive results.

Let’s see a current example unfolding in Deere & Co (DE) where you can follow in real time:

Deere (DE) appeared consistently on our list of “Strong Stocks Getting Stronger” during the rally from $80 to the current peak near $112.

However, during March, lengthy divergences undercut the rally as price stabilized into a range.

It’s likely we’re seeing a Distribution Arc, or more specifically a “Rounded Reversal” price pattern.

Today’s breakdown beneath the rising 50 day EMA and lower Bollinger Band – especially on a gap – suggests the supply/demand relationship has changed to favor the bears.

With the breakdown, continue focusing on additional movement beneath the 50 day EMA toward lower levels like $100 or even the rising 200 day SMA nearing $94.00 per share. Continue Reading…

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