Daily Commentary

I featured Amazon (AMZN) as a bearish swing trading candidate in last night’s member report and this morning we’re seeing initial follow-through in the bearish direction as shares failed at a wall of clear overhead resistance. Let’s see what’s happened and what to watch now: In our “Swing Trader’s Zone” of the Idealized Trades Report…

So far in 2017 we’ve seen relentless selling pressure in the XLE (Energy ETF). Here’s the current update as the fund makes yet another new swing low in August: Like I highlighted this morning in SNAP, “weak stocks tend to get weaker.” This logic also applies to ETFs and broader markets as well. The Energy…

New and aggressive traders often enjoy searching for that elusive trend reversal trade, also known as “Bottom Fishing” or “Catching a Falling Knife.” We’re seeing this type of activity pick up in Snap Inc (SNAP) as price – in a downtrend – made yet another new low. Was $12.00 the bottom traders have been fishing…

With volatility back in the market (for now), let’s update our Fibonacci Grid for the @ES because – believe it or not – it’s STILL working very well for short-term traders. Here’s today’s @ES Fibonacci Grid in play: Monday gave us our strong, expected rally up away from the 2,440 critical pivot (that I’ve correctly…

Bullishly trending NVIDIA (NVDA) just broke a bearish rising wedge on negative divergences, collapsing instantly to a daily chart support target. What’s up next for the stock and is there a trade in it?  Let’s check: NVIDIA repeatedly showed up on our “Strong Stocks Getting Stronger” scan, but the recent negative momentum and volume divergences…

Netflix (NFLX) gives aggressive traders a chance to play a triple-support price level now. Let’s pinpoint this confluence and plan the “departure” trade from this critical pivot: We’re seeing three factors overlap as probable support just beneath $170.00: The 50% Fibonacci Retracement The 50 day Exponential Moving Average (EMA) and the Prior Price High from…

Continuing our thought process from this morning, let’s take a look at the snap-reactions and sudden price movement in our Quad-Market Grid. We’re seeing Stocks plunge, collapsing to new swing lows and breaking Daily Chart support. “Risk-OFF” safety assets like Gold (especially) and US Treasuries surged higher on the news. The US Dollar – and…

I’m joking of course but doesn’t it feel that way? With rhetoric ramping up over North Korea, maybe that was the only thing that could send this market even slightly lower from its non-stop bullish uptrend. Let’s update our chart and note what’s happening with the Dow Jones at a key price target: The Dow…

If you’re having trouble making the daily or weekly profits you’ve gained in the past, you’re not alone in this current low volatility market environment. All things are temporary, and this too shall pass, so before the situation changes, let’s take a look at our extremely tight, compressed, low volatility stock market: We’re seeing the…