On the morning of big US Jobs Report, we see a big intraday move in Gold and the Dollar. Mainly the Dollar – for the first time in a long time – rallied strongly, snapping an intraday downtrend. At the same time, precious metal Gold snapped an uptrend to fall sharply down away from resistance….
Pharma stock TEVA gives us another reason why we should NOT fight trends in motion. It also reminds us why we adopted our core strategy principle at Afraid to Trade: “Weak stocks tend to get weaker; Strong stocks tend to get stronger.” Let’s see what just happened with the big gap down and why it…
With the Dow Jones Index surging seven days in a row straight up, we’d be totally crazy to plan for a pullback instead of buying, buying, buying a rally that’s never going to end… right? Right? Let’s at least PLAN for the potential (likely/inevitable?) pullback yet to come in the Dow and it could start…
Big stock Apple (AAPL) reports earnings today and we’re watching a critical price level to set up the next trade to play. What’s the level and where do we go from here? Let’s consult the chart: Straight to the point, the critical price pivot level for Apple (AAPL) is $145 per share. That’s a polarity…
We have YET ANOTHER “gap and crap” day like yesterday where morning strength (a gap up) turns into immediate weakness toward support. We’re playing the same game within the same levels as yesterday (see the prior post). Here’s today’s updated Emini (@ES) trading levels for your trades: While we had a bullish gap up, the…
Under Armour (UAA) is currently in a Distribution and Mark-Down phase, but how did we get here and why is this stock a textbook example of the Life Cycle of a Stock Movement from Accumulation to Distribution? Let’s take a look at where we are and how price got here: The Founding Fathers of Technical…
If you’ve been following the US Dollar Index, you may have been surprised with how rapidly price collapsed from the 100 level toward the current major support target of 92. We’ve been expecting and trading this development in the membership, though it’s occurred much faster than expected, yet here we are at our longer-term price…
While today started similarly to July 27th’s “Gap and Collapse,” today we’re seeing a rally off support instead of a violent, vicious engulfing session. Let’s update our levels and plans for the day. Here’s today’s updated Emini (@ES) trading levels for your trades: While we had a bullish gap up, the bears took their swipe…
Of the recent intermarket price swings, the most interesting development has been the ongoing slow collapse of the US Dollar Index. It’s set the stage for recent bullish rallies in both Gold and Oil – commodities priced in Dollars. Let’s see what’s happening in the intraday intermarket grid: I sandwiched the falling US Dollar Index…
The Big News yesterday was the snap-collapse of the NASDAQ and leading tech companies mid-day. The result – so far – has been a sharp drop and bounce today off the first Fibonacci Target. Here’s the NASDAQ – @NQ futures – and the new Fibonacci Grid in Play: A sudden sell swing swept the market…