I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Financials! We’re seeing financial stocks – seen fastest by the XLF Sector EFT – surge today on a breakout. Let’s plot the ETF breakout and then compare that quickly with the more aggressive leveraged FAS and FAZ. As we saw in this morning’s update post, the market surged to new highs again on another big…
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…
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…
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…
“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…
Pullback! We’re repeating a similar pullback game plan like we saw on February 16th. 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. Notice I said “high probability” rather than guaranteed. We will craft…
It’s easy to be distracted by shiny objects, like the non-stop stock market rally since November. During this stellar bullish phase, have you taken a look what’s happened behind the scenes? Let’s focus our attention on other key related (correlated) markets and how they’ve behaved recently. The top of the five-market grid (which we cover…
It’s rare to see broad market impulses this strong and persistent but yet here we are, once again at the highs. Will today or Thursday trigger another small retracement? Let’s plan. Here’s today’s updated Emini (@ES) trading levels for your trades: I highlighted our recent pullbacks or retracements in green; these are buy opportunities in…
With another down open, will bulls buy the dip again like yesterday and close us higher? Or will the pullback strengthen, opening up a sell-swing to lower targets? Let’s find out our plan. Here’s today’s updated Emini (@ES) trading levels for your trades: It’s easy to get caught up in euphoria but markets can change…
Wait – what is this? Price can actually go DOWN? After the last five days, it’s understandable if you assumed we’d be seeing higher prices forever. Nevertheless, today gives us our second pullback in the big uptrend impulse that catapulted the market higher. Here’s today’s updated Emini (@ES) trading levels for your trades: It’s easy…