I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
The last two times Google (GOOGL) pushed to a new high, price collapsed. Will this third time be the charm? Or will history repeat with another short-term collapse toward support? GOOGL is a popular stock due to its volatility and is often a favorite of option traders due to the high price. Nevertheless, traders were…
Breakout! Price surged through two Fibonacci targets to achieve the prior swing high. What will happen next and what is our plan for the day? Here’s today’s updated Emini (@ES) trading levels for your trades: We’ve been anticipating this breakout – one way or the other – for a while now. We had bullish indications…
Crude Oil plunged toward the $50.00 per barrel level, collapsing from negative divergences into resistance. This was our forecast play for Oil – a bearish swing “down away from” the $54.00 level for members. Let’s see how it developed, study the pattern, and plan the next swing: Here’s a quote from our membership strategy planning…
Over the last few sessions, we’ve remained trapped between key Fibonacci Pivots. Is today the day of the breakout?! Or will the touch of the falling trendline be all the bulls can muster? Here’s today’s updated Emini (@ES) trading levels for your trades: The yellow highlight is the most recent short-term trading range (roughly 2,345…
Once high-flying stock NVIDIA (NVDA) faces a make-or-break support test or it risks entering a trend reversal and period of distribution. Let’s plot our development and pinpoint what level is our key focal point: NVIDIA traders experienced a big run-up in 2016 (it frequently topped our “Strong Stocks Getting Stronger” scan for members) but then…
Yesterday saw price rally up away from our 2,329 level toward our key 2,345 level and today gives us another fall down away from 2,345 toward 2,329. It’s simple yet it’s incredibly effective in framing your game plan and trading your intraday swings. Here’s today’s updated Emini (@ES) trading levels for your trades: As we…
When you think of exciting stocks to trade, you probably don’t think about McDonald’s (MCD). While not exciting for a day trader, sometimes you need stable uptrending stocks like this in your portfolio. Here’s the big reversal on positive divergences that sent shares soaring all the way back to a new high today: McDonald’s (MCD)…
After a quick rounded reversal took us back to the 50% level, buyers stepped in this morning at the key level. Here’s today’s updated Emini (@ES) trading levels for your trades: With the intraday chart officially in a short-term downtrend, we look to lower levels for target support. These support levels are areas to target…
Taking the form of a Rounded Arc, price broke beneath our short-term Fibonacci Support level and is collapsing toward our lower target. Here’s today’s updated Emini (@ES) trading levels for your trades: Today reminds us why patience pays – especially when awaiting a range breakout. Sellers shattered the 2,345 support level, opening up a second…
While we study the intraday levels, let’s not lose sight of where we are on the Daily Chart. Namely, we’re precisely between the 20 and 50 Day EMAs as we can see below: For quick reference, the market is uptrending with rising moving averages. However, we’re beginning to see these daily EMAs flatten – and…