I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
After an initial bounce just above our official Emini Fibonacci Target, price appears to be trading back toward our target level. Here’s today’s updated Emini (@ES) trading levels for your trades: Traditional odds strongly favored a pullback and that’s precisely what we’re seeing. The initial target is the 2,182 pivot and if the retracement picks…
I’m thrilled to know that logic prevails and price is doing what it “should” at the moment. Odds overwhelmingly favored a pullback/retracement toward lower Fibonacci Retracement levels for the @ES and right now – as we start December – that’s exactly what we’re seeing. Here’s today’s updated Emini (@ES) trading levels for your trades: As…
I’m still surprised with how quickly Dryships (DRYS) surged from $5.00 to $100.00 but even more impressed with the even faster speed it collapsed from $100.00 back to $5.00. Dryships (DRYS) serves as a perfect example of a euphoria pattern shows up on a stock’s chart when fear/greed (in this case extreme versions of both)…
I’m not sure the buyers (bulls) know the meaning of a “pullback” but here we are, near the highs again. All joking aside, Here’s today’s updated Emini (@ES) trading levels for your trades: Buyers aren’t willing to let this November rally die. They’re aggressively stepping in on tiny pullbacks. This shouldn’t frustrate us because we…
Software giant Microsoft (MSFT) continue to be a “strong stock getting stronger” as evidenced by today’s new high. Let’s chart this bullish candidate and plan key levels on which to focus for any trades: On the Daily Chart, we can see short-term pivot support/resistance levels at $56.00 and $58.00. We’re also seeing a new short-term…
I’m not sure the buyers (bulls) know the meaning of a “pullback” but here we are, near the highs again. All joking aside, Here’s today’s updated Emini (@ES) trading levels for your trades: There’s no major update today other than the smaller “abc” pullback toward the 2,200 target. Buyers stepped in once again, not patient…
We’ve seen all markets trend strongly after the US Election and Thanksgiving holiday November events. Let’s first take a look at these stellar, persistent intraday trends and then balance the odds of future short-term reversals: Here we see the “Quad-Market” or Intermarket Grid I use in my more detailed/lengthy Intermarket Reports. The main idea here…
Does Apple (AAPL) go higher or lower from $110? Build your next swing trade off this logic: Apple shares logically tumbled from the $118.00 level on dual negative volume and momentum divergences. Price extended itself away from the 200 day SMA (red line) and then collapsed back toward it in November. At the moment, we’re…
Wait, the market can actually go DOWN? I had no idea! If you started your trading career in November 2016, I can see how you could think stock prices can’t go down. Hint – they can and do! And you can make money when they do by short-selling the market (or buying inverse ETFs)! All…
Breakout? Pullback? Extended Uptrend getting more extended? Divergent Reversal? Let’s plan! Here’s today’s updated Emini (@ES) trading levels for your trades: We have a new Fibonacci Grid for the moment that will remain active on an eventual retracement from the high. We’ll keep extending it higher – from the earlier low – until we do…