I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
In an uptrend price typically swings higher then pulls back toward a rising moving average. Price was held hostage at the highs, trading sideways longer than expected before actually pulling back to a key target this morning. Here’s the quick update and new focal point for this week: We’ve been awaiting a pullback to the…
While price expanded the lengthy trading range, we saw this morning’s price action pull back to our known Fibonacci Target. 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…
BlackBerry shares (BBRY) broke free of daily and weekly resistance, triggering a new bullish phase. Let’s pinpoint the key levels, note the new “Open Air,” and compare notes on where price goes from here. We’ll begin with the big Weekly Breakout today: After a series of positive divergences, price reversed once again off the $6.50…
Price was on a volatile arc this morning that keep us within the lengthy trading 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 Grid levels WITHOUT…
The weaker than expected GDP report this morning spiked volatility higher in our quad-market grid. Let’s highlight these movements and the big reversals taking place today: In our quad-market grid, we see @ES (E-mini US Stock Market Futures), @GC Gold, @CL Crude Oil and @DX the US Dollar Index. Surprisingly, the US Equity Market has…
A weaker than expected GDP report this morning was exactly the bullish catalyst needed to boost the stock market to new all time highs! Our bizarre trading environment (bad new is actually really good news) continues with the chart update below. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:…
“Strong stocks tend to get stronger.” Facebook (FB) shares gave us another example of this powerful investing (and trading) concept as a supremely strong uptrend continued with a breakout to a new all-time high this morning. Here’s the weekly chart in all its bullish glory: We define uptrends by the series of price highs and…
With the Fed NOT raising rates as expected, price responded with little fanfare – or movement. 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 levels WITHOUT…
As widely expected, and with little fanfare, the Fed did absolutely nothing today except keep the short-term S&P range going. The non-decision (to do nothing with rates as expected) was well-received by the market, bouncing price up away from support to keep the Rectangle going. Here’s the current S&P 500 Intraday Rectangle Range: In the…
The Fed won’t raise rates later today at their meeting, and the market could rally as a result. We’ll be watching also for a pullback/retracement in the event the market doesn’t like the outcome or guidance. If so, we’ll use our grid below to plan the rest of the session and the remainder of the…