Just Showing the Pure Price Emini Breakout Today March 1

Mar 1, 2017: 12:09 PM CST

The market is surging this morning, extending the bull market with a short-squeezed bullish breakout.

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

As usual, there are no Fibonacci Pullback Levels to consider when price is surging to new highs.

A Fibonacci Grid requires a swing high – which isn’t yet in place – and a prior low (or prior lows).

As such, we’ll just keep our “Alternate Short-Squeezed Breakout” thesis going while buyers continue to dominate and decimate the sellers.

Price Price Price!

To sum, here’s a direct quote from our prior Member Strategy Plan (join us!):

This market (buyers) refuse to give-back ground. We continue to be on guard for a pullback and just saw two days of bearish initial retracement activity.

It’s possible that’s all we see, and thus we’ll get ready to trade long/bullishly above 2,365 toward 2,400.

If it feels funny to read “2,400″ keep in mind that’s it’s just as weird for me to write it but then again, 2,300 once seemed out of reach.

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 Corey and Thousands of Your Fellow Traders at the February New York Traders Expo

Feb 24, 2017: 12:01 PM CST

Start planning today!  It’ll honestly be here before you know it and you don’t want to miss out on a profitable start to 2017.

I’m excited to return as a speaker at the 2017 New York International Traders Expo and want you to join me and many of your fellow traders at this one-per-year unique gathering.

I’ve attended and presented many times previously and I always look forward to the NYC Expo.

Not only do you get to meet fellow traders and network, but you also get to attend dozens and dozens of free educational and market forecasting sessions with leading educators and traders in the industry.

You’ll also be able to demo new products, software, and goodies at the expanding Exhibit Hall.

I’ll be discussing it more as the Expo approaches but go ahead and register today and start planning your trip.

As someone who has attended the Traders Expo since 2004 and been a presenter since 2009, you do NOT want to miss this event!

Make sure you’re on the right page with your analysis as you attend planning sessions with leading market analysts, traders, and forecasters.

Will I see you there?  Let me know and I’d love to meet up for coffee if you’re able to attend.

Here’s to a great start to 2017!

Corey

Continue Reading…

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Defensive Gold and Treasuries Bullishly Break Resistance

Feb 24, 2017: 11:53 AM CST

File this under “very interesting” – defensive markets Gold and Treasuries just reversed higher.

If this continues, we could see a bearish development for the US Stock Market (money flow).

Let’s take a look and see if the breakout holds:

For some perspective, see our featured post “How Other Markets Behaved while Stocks Surged.

In it, you’ll see a broader look at the Money Flow across markets given the stock market’s recent surge.

Gold – and Treasuries – reversed higher on positive divergences in December and now hit a new phase in the reversal.

Gold broke above the $1,250 level this morning which is a key price pivot that confirms the bullish rally.

In fact, if Gold goes ahead to break above the 200 day SMA near $1,280, it would suggest a sustained rally through $1,300 and beyond.

That may not bode well for the non-stop uptrend in stocks.

We’re seeing a similar bullish breakout and reversal perspective on defensive US Treasuries: Continue Reading…

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Sharp Down but Fast Up Emini Pullback Update Feb 24

Feb 24, 2017: 11:28 AM CST

And the plot thickens!

Stocks pulled back for a second time this morning, gapping lower but then recovering the gap within the first hour.

Not only was this similar to yesterday’s session but it’s somewhat similar again to February 16th’s pullback.

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

Here’s our key planning quote from last night’s strategy plan for members:

“We’re getting ready for a HIGH PROBABILITY PULLBACK.

“This market is running on borrowed time before a steeper pullback – see Daily Chart – occurs.

We’ll be ready for it and will trade a move down away from 2,360 toward 2,340.”

So far, that’s precisely what’s occurring right on schedule as was the case with yesterday’s plan.

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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Super Down for L Brands New Breakdown Low

Feb 23, 2017: 2:46 PM CST

“Stocks which are weak and downtrending tend to get weaker and go lower.”

That’s precisely what’s happening right now with the gap-down collapse in L Brands (LB).

Here’s the weekly chart, a key trading lesson (on reversals and downtrends), and what’s going on now.

L Brands (LB) was a “strong uptrend stock getting stronger” through 2014 and 2015 but the situation changed.

Negative momentum and (more importantly) volume divergences preceded a large scale reversal from a key target.

Shares peaked at the psychologically-important $100 level and now have collapsed more than 50%.

The first clue was the bearish (red/sell) volume surge AND the new momentum low (a “Kick-off”) that took place exactly a year ago in February 2016.

Later the weekly moving averages crossed bearishly at the $87.50 level and thus began the NEW downtrend. Continue Reading…

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