Join Me at the World Money Show Orlando this February

It’s rapidly approaching and really will be here before you know it!  Don’t hesitate!

We’ll be looking forward to seeing you!

I’m excited about this opportunity to share some of the latest research and trading experience with you.

I’ll unveil new tactics and strategies designed for our current “runaway” market and the tactics that will keep you on the right side of price action especially when price reverses from the current uptrend.

Join us!  Register and learn more today.

Corey


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Surprisingly Strong Money Flow to Start 2018

We’re back from a blogging sabbatical!  We’re back to our regular daily posting and updates.

What a better way to start back with a broad picture of the surprising and persistent movement in money flow so far in 2018?

Let’s begin with a simple grid and ease back into the markets:

After a relatively muted or range-bound end to 2017, markets ignited at the end of the year and continued so far into 2018.

What’s the simple picture?

Stocks continue to explode higher along with commodities Gold and Oil.

Unfortunately, not all markets can benefit from rampant and non-stop bullishness; the sacrificial lamb in this case in the US Dollar Index.

Keep in mind that trends, once established, have greater odds of continuing than of reversing.

Also, trends (persistent money flow into/out-of a market) can continue longer than expected.

We’re always on guard for sudden reversals and we’ll be watching for that in the week ahead.

We’ll keep you updated on these developments before and after the announcement so stay tuned!

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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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A Sneak Peek at MultiMarket Money Flow for Fed Week

We strongly suspect that the Fed will raise rates at their Wednesday, December 13th meeting.

What’s the picture setting up in our Quad-Market Grid before the announcement?

Money continues – without stopping – to flow INTO the US Stock Market.

At the same time, Gold saw money rapidly flow OUT OF it recently.

The US Dollar Index initially saw bearish money flow but price turned higher with a break above a falling trendline and bullish bounce ahead of the Fed announcement (the Dollar typically benefits from higher interest rates).

Finally, Oil continues its upward bullish drift that developed a sideways trading range beneath $ 60.00.

We’ll keep you updated on these developments before and after the announcement so stay tuned!

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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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Bullish Breakouts and Trend Continuity in 2017

In the heat of battle, it’s often helpful to raise your perspective to higher ground.

That’s what we’re doing here with the clear price patterns and breakout (bullish) phases in this strong, ongoing bull market in stocks.

Look Closely at the Bullish Breakouts and Resistance Levels:

From the beginning of 2017, the stock market carved a series of higher highs and higher lows, building the structure of a larger uptrend in motion.

I’m highlighting the resistance levels – mainly at 2,400, 2,500, and 2,600 Round Number Levels, and what happened NEXT when price broke ABOVE these levels.

In fact, these green highlights represent the forward progress in 2017.

If you’re surprised by this move, don’t be.  Look at the chart – this pattern keeps repeating.

The purpose of this chart is to highlight prior events similar to what we’re seeing now so we can have a roadmap to the future.

 

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Corey Rosenbloom, CMT

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A Commanding Reversal and Target Update for AutoZone AZO

If you enjoy trading trend reversals and surprise bullish rallies (and breakouts), AutoZone (AZO) is the stock for you!

Here’s the V-Spike Reversal from Down to Up and the New Levels to Watch:

AutoZone (AZO) stalled with a Distribution Pattern near $ 725 with a breakdown (breakout) and Trend Reversal DOWN in April 2017.

From there, price collapsed from the $ 700 level toward the $ 500 Round Number pivot.

Rather than build a “Rounded Reversal” or Accumulation Pattern, buyers intervened to create a V-Spike Reversal that catapulted share prices through $ 600 and now $ 700.

We’re watching confluence target – now achieved – at the $ 700 price level.

Use this as your Bull/Bear pivot for short-term trading strategies.

Price initially stalled into the 38.2% Fibonacci Retracement just above $ 600 and when buyers took price above this pivot, a rapid rush of buying (and short-covering/short-squeeze) sent price speeding toward our current target.

Study this pattern to pinpoint similar/future reversal patterns like this event.

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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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A Euphoric Rally into Collapse Lesson from Square SQ

Here’s one for the lesson books – Square (SQ) had a euphoric or parabolic rally that gave way to the all-but-inevitable snap-back crash straight into a key support price.

Here’s the Euphoric Rise that gave way to the Stellar Collapse:

Square (SQ) is a new stock that you may not have traded yet but it’s sporting a classic pattern of a euphoric (unsustainable) rally that just gave way to a textbook collapse event.

Despite a strong higher timeframe uptrend, price stabilized (intraday chart) at the $ 32.00 per share level and built a rally toward $ 38.00 per share.

At that point, a clear Ascending Triangle Pattern developed which triggered a bullish breakout entry above $ 38.00 on November 10th.

Price got ahead of itself, surging straight up into a “Parabolic Arc” or “Euphoric Top” pattern that set the stage for the pain of a collapse after the pleasure of the euphoria.

Traders are encouraged to avoid trading INTO the late-stage euphoria (bullishly) due to the risk of a price collapse.

Similarly, bears are discouraged from short-selling a euphoric pattern event like this because price can remain overbought and irrational – and surging higher – beyond your ability to sustain a reasonable risk or stop-loss strategy.

VERY aggressive traders can engage short on the breakdown – in this case a gap – beneath the rising “arc” or adaptive trendline.

We’ve achieved our first target of the initial breakout from the original Symmetrical Triangle.

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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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The Stabbing Bull Selloff November 15

As an intraday (or short-term) trader, we do best when we recognize repetetive price patterns and frame each trading day by what’s happened in the recent past.

For now, we’re seeing a stabbing bull gore the active bears intraday while price trades lower.

Of course, if you are an intraday trader, you might have NO IDEA that price is actually retracing or declining in a sell-off on the Daily Chart.

Here’s the pattern that keeps repeating:

 

From the peak near 2,600, SELLERS have actually been winning the WAR while BUYERS have been winning every single BATTLE.

In other words, price is indeed selling off from 2,600 toward the lower targets on the Daily Chart near 2,550.

While the Daily Chart is the recent short-term war, the intraday chart is each battle.

Note how price sells-off rapidly either overnight or right off each day’s open.

From there, buyers reverse course on a program/algorithmic V-Spike Reversal pattern which results in a bullish rally – even TREND DAY (style) – into the close.

It’s almost like Bears achieve victory in the darkness of night but are driven back by the Bulls when the warm light of morning emerges.

Are bears therefore nocturnal vampires?

Humor aside, this is the repetitive pattern that holds sway over our current short-term market.

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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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Webinar Lessons from 18 Years of Active Trading with Corey this Thursday

I’m so excited about this opportunity to share with you the lessons – good and bad – from my 18 years as a swing and intraday trader.

Our featured webinar with Mike at Futures.IO will take place this Thursday right after market close:

It’ll be both an introspective look at my trading journey – most likely paralleling your journey along the way – and will include specific lessons I’ve learned that I wish I knew earlier.

My goal is to assist you at whatever point you are currently in your trading journey by sharing what’s worked, what hasn’t worked, what’s important, and what’s not from my 18 years in the markets.

Go ahead and register now and grab a notepad!

Thank you to Mike and his team for this introspective educational opportunity and we can’t wait to see you there with us live!

Corey

 


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A Lesson from the V Spike Intraday Reversal Today Nov 14

Today’s intraday V-Spike Reversal gives us a chance to study the set-up to trade an intraday reversal and not get trapped on the wrong side of a rapid movement.

Let’s highlight the pattern and pinpoint the higher timeframe support level from which it logically developed:

Intraday V-Spike Reversal on Positive Divergences

Intraday V-Spike Reversal on Positive Divergences

A large gap-down often suggests the early development of a Trend Day.

However, it’s important to take higher timeframe levels – especially key price targets – into consideration before joining into the trending action.

Yes, price gave a valid short-sell bear flag opportunity on the first pullback but price achieved its downside support target as seen on the intraday chart:

Higher Timeframe Key Support (Price) Level

Higher Timeframe Key Support (Price) Level

The 2,565 level was a “Double Bottom” price level from which buyers intervened and rallied the market higher on two occasions – November 2 and 9.

With the downside objective achieved, we turn our attention to the real time data from Market Internals (TICK) and Momentum.

As we can see in the first chart, BOTH metrics formed an obvious/visual Positive Divergence at the higher timeframe target.

Once again, buyers intervened today, thrusting the market higher and giving bulls another chance to profit from a “BUY THE DIP” scenario.

Bears… they didn’t fend as well if they missed seeing the support level and missed the positive divergence as it occurred in real time.

Keep studying this event and apply what you learn to future scenarios like this.

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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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SP500 Simply Slams the Rising 20 Day EMA Target Again

Like Lucy and the football with Charlie Brown – always frustrating him at the last minute – the Market fell rapidly to the rising 20 day EMA target for a third time.

Will bears be able to break through it this time and kick the football?

Or will buyers pull the football away from the bears, leaving bears frustrated once again?

Gold

From the August 2017 reversal low, price retraced toward – and then reversed up away from – the rising 20 day EMA (green) three times.

Today’s major sell session – which we should compare to October 25th – collapsed the market straight toward the key rising EMA.

We’ll monitor what happens NOW but then, buyers rushed in to buy the dip and create a V-Spike intraday reversal up away from the EMA target, resulting in a continuation of the ongoing bull market.

Whatever strategy – intraday or swing trading – you’re using, pay close attention to how today’s session closes and whether or not we trade up away from the moving average once again.

Either way, frame your short-term trades in terms of the immediate departure from the 20 day EMA line which trades near 2,575’s critical bull/bear short-term pivot.

Stay tuned as we continue to give you more daily updates and market commentaries!

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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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The Crude Oil CL Surge November 7

It’s the Crude Oil Surge and Breakout!

Price reversed up off a key inflection point on positive divergences to set the stage for a bullish rally.

Let’s chart the course and update the levels for Crude Oil:

Chipotle CMG

In our weekly membership, we called for a bullish reversal up off the $ 45.00 pivot level as the beginning of a possible bullish rally phase.

We’re seeing that rally continue into the present with a series of higher highs and higher lows for Crude Oil along with price recently breaking firmly above the falling 200 day (red) SMA.

The initial targets (yellow highlight) of the prior two swing highs in price have been achieved as Oil continues to trade even higher in a new bullish phase.

Take a moment to review higher timeframe levels in the context of this new multi-month bullish swing in price and plan your trades accordingly.

Stay tuned as we continue to give you more daily updates and market commentaries!

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Corey Rosenbloom, CMT

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The Bullish Turn and Range Action in Gold Nov 7

We posted about a Bullish Surge in Crude Oil this morning, and we’ll now combine that with a bullish reversal into a rising range environment for Gold.

What does that mean and what’s the planning levels right now?

Gold

Let’s start with the hourly (intraday) chart on the left.

We have Gold (@GC) falling from a resistance high – on negative divergences – from the $ 1,305 level.

A downtrend took price toward the active support target near $ 1,265 on positive divergences.

I drew an “Arc Trendline” pattern to connect the swing lows and highs – note the reversal higher.

Now, on the right chart, we see the 15-min chart forming a Rising Range pattern with volatile gap-action throwing price from range high to range low.

Frame your trades in terms of the movement between these rising trendlines and use them as stop and entry parameters on your chart.

Stay tuned as we continue to give you more daily updates and market commentaries!

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Corey Rosenbloom, CMT

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Vegas Expo 2017 Two Week Trial Member Special

If you’re new to Afraid to Trade or have been wanting to check us out, I wanted to extend an offer to come on in and see what we’re doing!

Here’s your chance to step behind the public blog to a two-week trial of our membership site:

Two Week Trial

I’ll also add a few bonus items for registering and joining us during your visit with us.

Go ahead and register now – I won’t keep this offer on the open blog long.

Take advantage of this special limited opportunity window!

Corey


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Once again Market Hangs Out at the Highs to begin November

Will we get our expected retracement?

Let’s chart the course and update the plan for the S&P 500 right now:

Chipotle CMG

With price extending to a new all time high on this morning’s gap-up, we have a clear scenario.

Traditional odds do favor a pullback/retracement “down away from” the upper Bollinger Band “back toward” the rising 20 day EMA like we saw in late October.

However, our alternate thesis is the ongoing “bullish short-squeeze” without a retracement which would trigger on a firm breakout beyond 2,580.

In the alternate scenario case, we must ignore all aspects that keeps us logically cautious and bearish – and play the market up toward 2,600’s target.

Take a closer look at the intraday activity and plan your next trade(s) in terms of the departure from the upper Bollinger Band and 2,580 price pivot.

Stay tuned as we continue to give you more daily updates and market commentaries!

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Corey Rosenbloom, CMT

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Failed Reversal Takes us to New Lows for Chipotle CMG

Almost but not quite!

Chipotle (CMG) shares plunged to new lows today after failing to break resistance into a bullish breakout from support.

What’s the level and what’s the play from here?

Chipotle CMG

After another lengthy sell-off in shares, price (buyers) found support at the $ 300 level recently.

Positive divergences set the stage for a possible bullish reversal off this support level, and thus some traders logically bought into this key pivot.

Price did push up $ 35 higher toward the target of the falling 50 day EMA (blue) but buyers weren’t strong enough to generate a breakout and thus a bullish trend reversal.

The next move was yet another gap lower, shattering support as a new liquidation phase continued.

Chipotle (CMG) reminds us that trends tend to continue and surprises – via failed reversals – often come IN the direction of a prevailing price trend.

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