I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Expectations for future “stimulus” and transportation/spending projects from the new Republican administration sent raw materials stocks – and futures contracts – surging after the US Election. Here’s the quick update – after a stellar breakout – for US Steel (X) by request: On the Daily Chart above we see a positive momentum divergence in October…
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 IF price does retrace from the high. We’ll keep extending it higher – from the earlier low – until we do…
Breakout? Pullback? Extended Uptrend getting more extended? 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 IF price does retrace from the high. We’ll keep extending it higher – from the earlier low – until we do get that…
Will it – or won’t it – break through to new highs? Or will we see a logical pullback? 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 IF price does retrace from the high. Note the build-up of negative momentum…
Well that was exciting while it lasted – and it didn’t last long. Shares in Dry Ships (DRYS) – a highly speculative stock – crashed to the ground today. While the trading community has been abuzz with Dry Ships (DRYS), I posted twice about the rally on the way up (with retracements) and now let’s…
We’re back into the 2,180 prior high target and plotting our next move along with the market. Here’s today’s updated Emini (@ES) trading levels for your trades: We saw a shallow, sideways pullback after a series of negative divergences, though buyers found support and acted at the 2,155 @ES Level. The market has been relatively…
The talk of the trading community this week is the impossible, raging rally in Dry Ships (DRYS). We leave the reason aside and follow the price. Let’s update our chart from the original post I made for you on November 14th. Before looking at today’s “what happened next” chart above, take a moment to read…
Though not stellar so far, price is pulling down away from the 2,180 @ES pivot. Here’s today’s updated Emini (@ES) trading levels for your trades: We saw a shallow, sideways pullback after a series of negative divergences, though buyers found support and acted at the 2,155 @ES Level. From there, we had the triangle breakout…
After the surprise US Election outcome, we’re seeing a flood of money into Financials, presumably on the expectation the new Republican administration will ease regulation and provide tax cuts that a Democratic administration would not have provided. Whatever the logic, the reality is that funds have flooded into Financials, crashing the sector to the upside….
We’re still seeing price trade at the highs after a sideways pullback instead of a downward retracement. Here’s today’s updated Emini (@ES) trading levels for your trades: The prior swing high is just under 2,190 which is an upside target for the current market. We saw only a minimal, sideways pullback from our negative divergences…