18
Oct

Rally Report and Market Update for October 17

Price today continued its recovery rally into resistance (see this morning’s update for targets) and now we pause mid-day to check key key levels and highlight the top trending stocks of the session.

Here’s our S&P 500 update and trending stock scan for the day:

Our focal point turns to the underside of 1,900 which is where the market peaked and reversed today (1,898).

We’ll be cautious under this area as price continues to pull back.

Note the lengthy negative TICK (and momentum) Divergences into the underside of 1,900.  This further suggested a sell-off was likely.

Nevertheless, Sector Breadth is Bullish at the moment:

Like yesterday, we see across-the-board bullishness.  Our strongest sectors once again are Materials and Industrials while Utilities turns in the worst performance of the day.

All other sectors continue to show breadth performance near 80% positive.

We finally have uptrending bullish intraday candidates today:

Mead Johnson (MJN), Textron (TXT), Regeneron (REGN), and Alcoa (AA).

Top bearish downtrending candidates include the following stocks:

Urban Outfitters (URBN), AbbVie (ABBV), Capital One (COF), and Health Care REIT (HCN).

Join me live for a special presentation with 8 speakers in an all-day educational event Saturday!

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


Afraid to Trade.com Blog

16
Oct

Join Me Saturday for a Full Day of Trader Education

Oct 16, 2014: 4:22 PM CST

Join us live for a day of trading education from Fibonacci to Price Patterns, Trend Days to Spotting Market Reversals.

I’ll be part of 8 trader educators presenting a full day of content as part of the

Smart Investing Workshop:  Financial Leadership from Professionals live event.

I’ll be the final speaker to round out the day, taking the microphone at 3:15pm EST (12:15 PST):

I’ll teach you what a Trend Day is and how to position yourself best for these explosive intraday moves.

The information will apply to swing and intraday traders.

These sessions are free and you can attend any or all sessions at your convenience.

Click here to register for free and start planning your schedule.

Thanks to the team at Investor Inspiration and I can’t wait to see you there live!

Corey


Afraid to Trade.com Blog

15
Oct

FT: Trading rules needed for high-tech world

High-frequency trading has captured US regulators’ attention. Jim McCaughan, Principal Global Investors chief, tells Philip Stafford that this focus has reined in predatory excesses but regulation still needs to reflect the modern high-tech world.

FT Trading Room

15
Oct

Support Bounce Market Update and Stock Scan for Oct 14

The question today remains “Will we see an actual bounce or will we see yet another repeat of the end-of-day collapse outcome?

We’ll start with our chart of the S&P 500 for key clues:

The pattern has shown us intraday bounces or rallies up off the falling trendline, only to be met with selling pressure into the close to continue the intraday downtrend.

That’s the probabilities we’ll be balancing in today’s session as we see a rally up into the 1,900 target but a retracement down against the trendline and 1,900 confluence (our focal point).

We’re ‘bullish above this level’ and otherwise bearish beneath it.

Sector Breadth reveals a Strong Bullish perspective:

Finally, Sector Strength clearly appears in the Offensive or Bullish sectors like Financial sand Indstrials and we’re seeing Sector Weakness in the “Defensive” names like Staples and Health Care.

Generally, this is a sign of bullish money flow into the market as traders seek “Risk-On” positions.

Aggressive traders may look  to play bullish stocks into the close:

ProLogis Inc (PLD), Deere (DE), Consolidated Edison (ED), and Essex Properties (ESS).

Otherwise, bearish candidates include the following downtrending intraday stocks:

Tyco (TYC), Gilead Sciences (GILD), Autodesk (ADSK), and Zimmer Holdings (ZMH).

Afraid to Trade Premium Content and Membership

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


Afraid to Trade.com Blog

13
Oct

New Lows into Support Market Update and Stock Scan Oct 13

At the halfway point today, we’re balancing the odds of another bullish reversal off support against the possibility of a continuation of the persistent selling pressure we’ve seen lately.

We’ll start with our chart of the S&P 500 for clues:

For additional commentary, see this morning’s update on “Planning Another Possible Intraday Reversal from Positive Divergences.”

The main idea is that we may see another repeat performance of what we saw October 8th when price touched a new low against “triple” positive market internal divergences.

There’s no guarantee price will once again rally higher but do focus on this potential bullish outcome.

The market would be an outright, aggressive short-sale under 1,900 again.

Sector Breadth reveals a Balanced Bullish perspective:

Sector Strength today concentrates in Financials and Utilities which sends a mixed (yet balanced) perspective.

We see no sector deviating from others except for Energy which is today’s weakest performer.

Aggressive traders may look for a reversal and to play bullish stocks into the close:

Southern Co (SO), Wisconsin Energy (WEC), Ameren Corp (AEE), and Apt Inv (AIV).

Otherwise, bearish candidates include the following downtrending intraday stocks:

AutoNation (AN), Noble Energy (NBL), QEP Resources (QEP) and Ebay.

Afraid to Trade Premium Content and Membership

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


Afraid to Trade.com Blog

12
Oct

Bounce or Breakdown Market Update for Oct 10

Price continues to trade within an intraday downtrend as the sell-phase continues.

There’s a clear pathway developing, but no guarantee price will follow it.

Let’s chart the pathway and highlight the top trending stocks of the session:

Today we saw a (near) test of the 200 day SMA as I highlighted in this morning’s update.

Beyond that, we’re still in this game-planning mode of “Will the market repeat an intervention pattern or will this time be different” which frames our short-term strategies in this broader context.

Nevertheless, the intraday pathway is lower but price is testing the lower boundary of the falling range.

This would suggest – at least short-term – that buyers could rally the market again toward the falling upper trendline near 1,960.

However, a touch of additional selling could collapse the market straight down – even after all the selling we’ve already seen (reference July 2011).

Sector Breadth – like price – is showing additional bearish indications:

Our strongest sectors of the session include the defensive Staples, Health Care, and Utilities.  Strength in these sectors suggest strong bearish money flow.

Weakness has developed in Technology and Materials – and the other Offensive sector names.

Very aggressive traders may look for a reversal and to play bullish stocks into the close:

HCP, Venas (VTR), ICE Exchange, and CME Group.

We could our attention on bearish stocks (relative weakness):

Juniper (JNPR), Xilinx (XLNX), Symantec (SYMC), and Qualcomm (QCOM).

Afraid to Trade Premium Content and Membership

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


Afraid to Trade.com Blog

9
Oct

Learn How to Trade Three Important Price Patterns – Thursday Webinar

I’m excited to be teaching a new webinar with TraderKingdom and ICE this Thursday, October 9th (3:30 CST) and I wanted to extend a special invitation for you to join us!

Entitled “Insiders Tips to Trading Three Classic Price Patterns,” you will learn how to recognize a specific price pattern, enter a trade and set targets, manage the trade as it progresses, and then exit appropriately without doubt.

These classic price patterns have trade entry, targets, and exits built into them which takes away the guesswork or uncertainty.

The educational event is free and you can register now to join us live in the interactive presentation:

Here’s a bit more information from the description and registration page:

Many traders, both new and existing, can often get caught up searching through complicated strategies to help identify more effective trading opportunities.

As is often the case, sometimes taking a step back to focus on classic, proven approaches can reveal simple strategies that deliver what traders are searching for.

Join Corey Rosenbloom, CMT, for this live session focusing on classic price patterns. Corey will outline his three favorite price patterns and detail his new strategies to bring these “patterns of the past” into the markets of today.

Watch as Corey walks through each stage of the process he works through when trading these price patterns in the Russell and Dollar Index:

  • Recognition
  • Entry
  • Management
  • Exit

Attendees will walk away with the ability to spot each of these price patterns instantly after the webinar!

I can’t wait to see you there live with us!

Corey

PS:  Here again is the link to register and join us live.


Afraid to Trade.com Blog

7
Oct

October 6 Stock Scanning and Market Update

Today’s session has been a reversal range session between clear boundaries.

Let’s start with our S&P 500 Chart and highlight the top trending stocks of the day:

Price rallied up into the key inflection (target) near 1,980 and turned sharply lower after the opening gap.

However, price found support as buyers rushed to support the market at the 1,960 pivot, creating a “neutral” zone between 1,960 and 1,980.

A clean breakthrough impulse above 1,980 continues our “Repeat Pattern” outcome, which you can learn more about from our morning update post.

At the moment, let’s continue our practice of market neutrality (range) or else a bearish breakdown bias under 1,960 (or breakout/higher timeframe trend continuity trigger above 1,980).

Sector Breadth confirms the Neutral Stance:

All sectors remain muted today with similar performance across the sectors (roughly 30% to 40% of stocks in each sector are positive).

However, the big leader of today is Energy, and not much can be gleaned from the pattern except for neutral money flow.

We can focus our attention on today’s trending (bullish) stocks:

Hewlett-Packard (HPQ), Expedia (EXPE), Netflix (NFLX), and Abbott Labs (ABT).

Alternately, we can focus on bearish downtrending candidates:

Micron Tech (MU), Kohl’s (KSS), Pitney Bowes (PBI), and Priceline (PCLN).

Afraid to Trade Premium Content and Membership

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


Afraid to Trade.com Blog

7
Oct

October 6 Stock Scanning and Market Update

Today’s session has been a reversal range session between clear boundaries.

Let’s start with our S&P 500 Chart and highlight the top trending stocks of the day:

Price rallied up into the key inflection (target) near 1,980 and turned sharply lower after the opening gap.

However, price found support as buyers rushed to support the market at the 1,960 pivot, creating a “neutral” zone between 1,960 and 1,980.

A clean breakthrough impulse above 1,980 continues our “Repeat Pattern” outcome, which you can learn more about from our morning update post.

At the moment, let’s continue our practice of market neutrality (range) or else a bearish breakdown bias under 1,960 (or breakout/higher timeframe trend continuity trigger above 1,980).

Sector Breadth confirms the Neutral Stance:

All sectors remain muted today with similar performance across the sectors (roughly 30% to 40% of stocks in each sector are positive).

However, the big leader of today is Energy, and not much can be gleaned from the pattern except for neutral money flow.

We can focus our attention on today’s trending (bullish) stocks:

Hewlett-Packard (HPQ), Expedia (EXPE), Netflix (NFLX), and Abbott Labs (ABT).

Alternately, we can focus on bearish downtrending candidates:

Micron Tech (MU), Kohl’s (KSS), Pitney Bowes (PBI), and Priceline (PCLN).

Afraid to Trade Premium Content and Membership

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


Afraid to Trade.com Blog

5
Oct

Join Corey Monday for a Panel Discussion Forecasting the SP500

Oct 4, 2014: 11:55 AM CST

I’m excited about a special opportunity Monday afternoon to join a panel and discuss the current market and potential opportunities (and direction!) of the S&P 500.

The panel is hosted by David Kosmider of TradingResearch.com and we’ll be joined by Sean McKisson of 360WallSt.com.

This is a free and open event for all and will take place at 1:00pm EST / 10:00am PST.

Details and more information – including registration – are provided at the following link (click here).

Here’s a few more details about the discussion:

The panel will discuss this critical phase of market and how to avoid the risks to come. As well, you’ll discover where they see the best opportunities.

Click here to learn more and sign up!

Each week, TimingResearch surveys a large and diverse group of traders to get their thoughts about current market conditions.

Next they use proprietary formulas to ?distill that knowledge into a weekly report that comes out on Sunday afternoons, and publishes it fo?r their members only.

Date and Time:
- Monday, October 6, 2014
- 1PM ET (10AM PT)

Thanks to David for the opportunity and I look forward to seeing you there!

Corey


Afraid to Trade.com Blog

© Copyright 2010-2014 Investing Advisers. All rights reserved.