I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Retracement! Price fell down away from the 2,120 target as expected toward the 2,100 level – a key pivot. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: First, let’s view this morning’s update on the S&P 500 with respect to the broader picture and key levels. You’ll…
“Do you believe in magic?” Ok Fibonacci Levels aren’t magic but they’re certainly interesting when they work perfectly. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: Here are the the bullet-points from yesterday’s update: A short-term Ascending Triangle developed between the 2,100 and 2,115 price levels. Negative divergences undercut…
What a difference a year makes! Chipotle’s (CMG) share price hovered under $800 per share as late as October 2015 but collapsed all the way toward $400 by January 2016. Price broke to a new swing low today, continuing the downtrend and challenging the prior spike-reversal low. On the Daily Chart, we see the downtrend…
After an expected sell-swing retracement this morning, we’re seeing an aggressive bullish intervention push price back toward the highs. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: First, let’s view this morning’s update on the S&P 500 with respect to the broader picture and key levels. You’ll…
Our Triangle Breakout Plan described yesterday was successful! Price reversed and traded logically down away from the 2,110 @ES level on negative divergences. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: Here are the the bullet-points from yesterday’s update: A short-term Ascending Triangle developed between the 2,100 and 2,115…
Breakout! Or at least a hold at yesterday’s breakout resistance. Price is forming a short-term triangle with clear trading levels on the impending breakout. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: There’s a few things we’re watching as we trade the @ES here: A short-term Ascending Triangle developed…
Price extended the breakout from Friday’s worse-than-expected Jobs Report (how’s that for logic?). Let’s update our levels for the S&P 500 Index and note the big trending stocks today: First, let’s view this morning’s update on the S&P 500 with respect to the broader picture and key levels. If you’re curious what a “Short-Squeeze” looks…
Here we go! Price is breaking through current resistance to levels not seen since 2015 (near all-time highs). Let’s broaden our perspective from the current levels to the “all-time highs” and plan accordingly. Here’s the S&P 500: Our focal point (short-term) remains the price level between 2,100 and 2,115/2,120 where we are currently. Note the…
We have a new breakout to a swing high in the @ES! This means we’ll pull our Fibonacci Grid higher. Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades: As I highlighted to members, we were carefully watching the 2,103 pivot level within our larger range context. A worse-than-expected Jobs…
After springing a Bear Trap and surging higher, Apple (AAPL) shares achieved a key target and are now trading quickly lower. Take a moment to review our earlier post “Beware the Apple Trapple” which was indeed what happened. Now, let’s plan what’s happening next on the current move away from our newly achieved target: We…