15
Mar

Elliott Wave Option/Stock Signal – UNG Long is Active

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Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals

13
Mar

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1) Post your own ideas & analysis wherever you see fit.
2) Subscribe by email (top of the page), or subscribe to a reader:

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Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals

28
Feb

Bears Need a Top Soon, Good Place to Occur Now


The bullish triangle I called out in the last post on the 5min chart sure played out quite well, but much better, further and longer than expected.

Yesterday’s rally was quite fierce and it made almost a straight line up.  Bear market rallies tend to be quite sharp, but this one is also very deep and can cause some problems to the bearish count if it gets above 1996.25, which is the wave ((i)) low.  The market closed right at wave ((iii)) 50% Fibonacci retracement level of 1951.

So, with the obvious follow-through to yesterday’s sharp rally today complete, and a nice retracement level hit just shy of the wave ((i)) invalidation level, the bears could see a good opportunity to hit the market hard again to the downside either Friday or Monday.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.


Principle Analysis: Elliott Wave Principle and Automated Strategies (An Elliott Wave Blog)

25
Feb

S&P Possibly in Short Term Bullish Triangle


The ES appears to be forming a short term bullish triangle that should result in a narrowing range of price activity probably the rest of the day before shooting higher in a terminal thrust towards the 1945 level.  Thrusts are terminal moves, so once complete, it should immediately retrace to at least the 1939 area.  To support the triangle outlook, you can also see volume waning as the triangle progresses.  My best guess is that overnight, or early in the morning for the US session, a news event will trigger the triangle’s wave E and then a sharp move upward for the thrust will occur.  There is not much heavy news to cause this action, but that doesn’t mean it won’t occur, as many unforeseen events end up moving the markets sharply anyway.

For the longer term, I am still bearish as you can see from my previous post.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.


Principle Analysis: Elliott Wave Principle and Automated Strategies (An Elliott Wave Blog)

24
Feb

FT: LSE-Deutsche Börse deal in 90 seconds

FT Trading Room editor Philip Stafford explains in 90 seconds the rationale behind German stock exchange Deutsche Börse’s proposal to take over its UK counterpart, the London Stock Exchange Group, after the failure of previous merger discussions.

FT Trading Room

21
Feb

S&Ps Finishing up Minor Wave C Down


My call for lower levels has certainly been fulfilled and the wave count down does not appear fully developed, suggesting at least one more attempt to the downside.  There are been two attempts to take out the 1800 support levels that have failed and resulted in over 100 point bounces.  However, one more downward move suggests that 1800 will be targeted again, and this time it will be taken out.  Once that floor is removed, I’ll be looking at the 1700 level to provide support and perhaps put an end to the selling.  A rally about the 1970 area might negate the bearish outlook.  Until then, I’m looking for short term shorting opportunities, and right now looks like a good time to do it.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.


Principle Analysis: Elliott Wave Principle and Automated Strategies (An Elliott Wave Blog)

21
Feb

Feb 19 Support Bounce Market Update and Big Stock Scan

Price fell as forecast from the 1,925/1,9230 level toward our 1,900 pivot – where we bounced powerfully today.

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

We expected a movement “down away from” the 1,925 level toward 1,900 and price almost exactly achieved this target.

A strong bullish bounce took price back within the range into the 1,915 pivot where today’s session remains.

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Let’s see what our Breadth Chart reveals about current market strength (or weakness):

We’re seeing mixed Money Flow which coincides with today’s mixed price action (down then up).

The strongest two sectors are in both Offensive and Defensive Groups – Technology and Staples.

All other sectors remain somewhat weak with Energy the weakest of the day (again).

Here’s a top-level or full-perspective view of today’s S&P 500 stock performance (courtesy of FinViz.com).

Here are today’s strongest trending (intraday) names – candidates for pro-trend continuation:

Rovi Corp (ROVI), AMN Healthcare (AHS), Verint Systems (VRNT), and Autodesk (ADSK)

Bearish downtrending candidates include the following stocks from our “weakness” scan:

Flowserve (FLS), Tyco International (TYC), International Paper (IP), and John Deere & Co (DE)

Afraid to Trade Premium Content and Membership

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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

3
Feb

Sell Swing Market Update and Stock Scan Feb 2

Stocks fell sharply from a key overhead resistance target – with divergences – to produce today’s Trend Day Down.

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

For members last night and on the TradeStation Morning Market Briefing, I highlighted the 1,945 level as the key pivot point (target) for price to play toward (successfully) and now “away from” (successfully).

The result so far has been a T3 Trend Day to the downside as price impulsively moved lower toward our 1,900 target.

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Let’s see what our Breadth Chart reveals about current market strength (or weakness):

Our Breadth Chart shows strong “Risk-Off” or defensive Money Flow in today’s sell session.

Utilities – a defensive group – is the strongest sector while all other sectors are near zero breadth.

Here’s a top-level or full-perspective view of today’s S&P 500 stock performance (courtesy of FinViz.com).

Here are today’s strongest trending (intraday) names – candidates for pro-trend continuation:

Michael Kors (KORS), Dow Chemical (DOW), Dupont (DD), and Mattel (MAT)

Bearish downtrending candidates include the following stocks from our “weakness” scan:

Harris Corp (HRS), Microsoft (MSFT), ADT Corp (ADT), and Goldman Sachs (GS)

Afraid to Trade Premium Content and Membership

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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

26
Dec

The Santa Claus Rally Finally Appears!

It’s about time! The famous “Santa Claus Rally” occurred this holiday week.

Many traders were asking “when will the rally occur?” and we have our answer mid-week.

Let’s chart the Santa Claus Rally of 2015 and what factors set it up ahead of time.

Here’s the Daily S&P 500:

Here’s some background of what I wrote this week to Members (we’d love to have you as a member):

Monday:  “We’re going to play a long/bullish bounce aggressively “up away from” the 2,000 pivot. The target will be 2,045 or 2,050 on the bounce.”

Tuesday:  “We’re likely playing into the “Santa Claus” Rally, but beyond that, price was expected to trade higher “up away from” the 2,000 pivot support with positive divergences. That’s precisely what happened and we’re going to continue trading any long/bullish upside price action into Wednesday and beyond.”

We’re seeing the outcome so far of the successful planning/analysis for price moving “up away from” the 2,000 pivot during the shortened holiday week.

The factors that preceded the rally included…

  • A Key Support Pivot (2,000)
  • Positive Momentum and Internal (Breadth and TICK) Divergences (suggesting a reversal)
  • The “Santa Claus” or bullish historical tendency for the Christmas holiday trading week
  • The Larger Uptrend in the Market

Ultimately that’s precisely what occurred.

Here’s what we have of the rally so far as seen on the 30-min Intraday @ES Futures Chart:

We can see the Positive Momentum and Breadth Divergences occurring into the 2,000 Key Pivot Support.

That’s enough to make us bullish and expect a rally swing “up away from” this pivot.

However, the “Santa Claus” bullish historical tendency further put the odds in our favor.

It’s not always clear what price “should” do AND we get the expected follow-through.

When that happens, be sure to take advantage of it with aggressive trading strategies, particularly intraday.

Afraid to Trade Premium Content and Membership

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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

24
Dec

Stellar Bullish Trend Day Update and Surging Stock Scan Dec 23

Santa Claus continues to deliver the bullish goods to the market today!

First, take a look at this morning’s update “The Santa Claus Rally has Arrived!” for more details.

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

In-depth analysis is always provided to members of the Premium Daily Reports – I hope you’ll join and benefit.

As I highlighted with quotes from last night’s report, we were expecting a continuation of the rally – and that’s exactly what we got.

“We’re going to play a long/bullish bounce aggressively “up away from” the 2,000 pivot. The target will be 2,045 or 2,050 on the bounce.”

We’ve exceeded our initial (first) target and now trade through the 2,060 pivot – above resistance.

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Let’s see what our Breadth Chart reveals about current market strength (or weakness):

All sectors are understandably strongly bullish during the big Trend Day.

Energy (oil) and Utilities reveal 100% of stocks positive during today’s surging session.

Our goal is always to identify and go WITH the money flow – never against it.

Here’s a top-level or full-perspective view of today’s S&P 500 stock performance (courtesy of FinViz.com).

Here are today’s strongest trending (intraday) names – candidates for pro-trend continuation:

Exxon-Mobil (XOM), Celgene (CELG), Canadian Natural (CNQ), and Westlake Chem (WLK)

Bearish downtrending candidates include the following stocks from our “weakness” scan:

Nike (NKE), Bed Bath & Beyond (BBBY), Extrage Space (EXR), and CME Group

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership 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

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