I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
After holding at the highs, Stocks reversed lower today from their lofty heights. Crude Oil did too but in less-spectacular fashion. Let’s view the rally up and the reversal down – complete with mini-Elliott Waves and Negative Divergences. Advanced traders can track cycles or swings in price. We look for a specific pattern where a…
Here’s our update for today! Price pulled back and broke under our upper Fibonacci Level and now has a collision course for a lower price. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: Here’s a reference guide of how to use and trade from these morning updates. We still…
We’re seeing GoPro Inc (GPRO) flash on our stock scan this morning as it’s breaking above key price resistance and the 200 day SMA. What’s going on and what’s the possible play from here? Let’s see! At Afraid to Trade we look for “strong stocks getting stronger” and absolutely avoid trying to find alluring reversal…
Price jumped higher into the 2,180 @ES level this morning and (so far) pulled back from this pivot. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: Here’s a reference guide of how to use and trade from these morning updates. We still can’t use our larger Fibonacci Retracement Grid…
Breakout! Short-Squeeze! Better than Expected Jobs Report! Buyers took control away from the bears today, propelling the market higher and triggering a short-squeeze. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: Here’s a reference guide of how to use and trade from these morning updates. We still can’t use…
Bear Trap! Twitter shares surprised investors and traders with a strong gap lower in late July, only to power-rally higher in August. This locks in a Bear Trap outcome and reminds us of the risks and opportunities of active trading. Here’s the Trap and what to expect from here: A Bear Trap occurs when price…
Our Bounce Continued – price fell toward our initial Fibonacci Target and has now bounced higher within the range. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: Here’s a reference guide of how to use and trade from these morning updates. We still can’t use our larger Fibonacci Retracement…
Is Crude Oil @CL Snapping its Downtrend? After a persistent swing down from $50.00 toward (and under) $40.00 per barrel, is price finally reversing? Let’s start with our Color Structure Grid this morning: A downtrend is a series of lower lows and lower highs, usually defined by moving averages or trendlines. That’s been the case…
Yesterday’s sell-swing took us straight to our Fibonacci Retracement target ahead of a bounce up off this pivot. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: Here’s a reference guide of how to use and trade from these morning updates. We still can’t use our larger Fibonacci Retracement Grid…
If you’re looking for a bullish breakout and trend reversal candidate, look no further than MNK. Mallinckrodt – a stock that’s been on our radar – bounced on positive divergences from $55.00 and now shattered resistance, officially reversing the downtrend into a new uptrend with today’s breakout. Here’s the bigger picture: Buyers rushed to support…