Market Recap Jun 30, 2016

The panic mongering by the financial media leading up to the Brexit vote was downright embarrassing (and we were mocking it) – and with the benefit of hindsight a week later, it was downright pathetic in light of the way markets have acted. The S&P 500 gained 1.33% and the NASDAQ 1.36%; zombies and locusts everywhere are very confused. That said the violence of the move upward even…

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Stock Trading To Go

A Path Toward Inflation

Yes, it’s another inflation post going up even as inflation expectations are in the dumper and casino patrons just cannot get enough of Treasury and Government bonds yielding 0%, near 0% and below 0%. Feel free to tune out the lunatic inflation theories you’ve found at over the last few weeks. But if by […]
Slope of Hope

Wiping the Slate Clean

Since the whole “profiting from the equity bear market” schtick hasn’t really worked for me during the past 7 years, I think I’m going to succumb to the second email I received today (the first of which was posted here) and pivot Slope of Hope to be the first place you think of for your […]
Slope of Hope

Girls Scouts and Aviation

In preparing for a Girl Scout camping trip I researched the organization, founded in 1912. It turns out that the Girl Scouts had an aviation badge available from 1916 to 1920 and then began a serious Wing Scout program in 1941 (Wikipedia). Until the 1980s the Girl Scouts sponsored programs in which girls would study toward FAA pilot certificates and would get backseat time in a United Airlines jet and front-seat time in light aircraft.

Girls’ wings have been clipped for the 21st century, however. A local troupe began to arrange an event with a local flight school, according to the owner. Eventually it was discovered that the national organization prohibits any Girl Scout activity involving any airplane smaller than a scheduled airliner. (Interested parents can still get kids a ride, and possibly some stick time, as Young Eagles, however.)

Philip Greenspun’s Weblog

June 30 Brexit Never Happened Emini Fibonacci Update

We’re collectively waking up to a dream where the Brexit happened but in the real world, it didn’t.  It was just a dream.

Ok that’s not actually true but the violent down-move was countered the last three sessions with equally strong up-moves in price, erasing the down-action following the U.K. “Brexit” vote.

Despite that, as was the case last week, our Fibonacci levels held and helped guide us through the journey.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

I brought back the wider (larger) Fibonacci Grid to the members last night and here we are with the prior levels.

After falling toward the 1,985 “127.70″ Extension, price reversed powerfully higher through all lower levels.

We’re now playing with the 2,075 @ES pivot which has been a key price pivot level through most of June.

Note your updated (previous) levels and adjust your trade plans to the departure between these levels, starting today with 2,075.

Want these levels and additional analysis/strategy planning in advance each evening?

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Corey Rosenbloom, CMT

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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).

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Running the Fibs

I said on twitter last night that the obvious next target on SPX was a retest of the 2050 area, and we have seen that at the open. That area is broken support at 2050, with the 50% fib retrace of the decline at 2052, and both are a match with the ES weekly pivot […]
Slope of Hope

Compound W

I haven’t done many real estate posts lately, although, as an update to this one (in which an empty dirt lot was being offered for $ 10 million) I’ll mention that although the For Sale sign seemed to linger longer than usual, it was supplemented with a SOLD sign yesterday. So I guess the Chinese are still […]
Slope of Hope