I describe the market action before the opening bell and after the close and discuss set-ups for the next day.
Our Fibonacci Grid was effective in planning yesterday’s trades within the range. Just now, price broke above the range, drawing our attention to the bullish surge. Let’s chart the market: In yesterday morning’s Market Briefing with TradeStation, I highlighted the pre-market gap-down into the 50% Fibonacci pivot at 2,040 and the upper ‘bounce’ target resistance…
What can late 2015 tell us about early 2016? A lot, if the larger price pattern repeats. Let’s update our pattern recognition skills and plan the future – if the pattern continues as it has done. As I’ve been highlighting repeatedly and joyfully to Afraid to Trade Members, the market is playing out a “Repeat…
What levels are we trading this morning with the gap and volatility in the @ES futures? Let’s flash-chart the market: In this morning’s Market Briefing with TradeStation, I highlighted the pre-market gap-down into the 50% Fibonacci pivot at 2,040 and the upper ‘bounce’ target resistance near 2,047. The bounce took us into this resistance target…
A logical pullback (retracement) took price back to a key intraday support level. What’s the level? What do we do now?! Let’s update our levels for the S&P 500 Index and note the big trending stocks today: We were expecting a logical pullback or retracement given negative divergences into the 2,075 target. That’s what we’re…
Facebook (FB) continues its strong bullish uptrend, but we’re planning a short-term trading opportunity on the current retracement. Let’s highlight the trend, trading levels, and possible trades setting up right now: Facebook (FB) meets the textbook definition of strong trending stock (‘strong getting stronger’) with a rising trend, rising moving averages, and persistent series of…
Today has been a heavy economic news day and the market is responding with higher volatility. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: From the monthly Jobs Report this morning to manufacturing data along with consumer sentiment, our initial downside gap turned into a large bullish…
Stocks surged after Janet Yellen reassured markets yesterday that rate hikes will be extremely gradual – if at all – through 2016. The bullish surged continued with another upside gap and break into the 2,070 level. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: The trending move…
What’s the “VIX Springboard Level” and why should we be watching it this week? Simple – let’s take a look at the VIX (Volatility Index) Chart below and plan our trading week: The VIX Level to watch this week is 13.75 – roughly the 14.00 index level – which is a key support shelf. In…
As we start the new week of March 28, 2016, what simple planning levels are in play for the S&P 500? Let’s see them and develop our plan based on these levels: All complex analysis aside, our key focal points (levels) for the week are the following: 2,020: The 200 day Simple Moving Average and…
The expected pullback (retracement) continued today with a gap-down toward our 2,025 target. Let’s update our levels for the S&P 500 Index and note the big trending stocks today: As I’ve been highlighting to members, we were targeting a pullback “down toward” the 2,025 level (minimum target) which is a price confluence at the 200…