Weekly Market Recap Jan 15, 2016

The week that was…
Bullish action continues as the market alternates between periods of rallying with periods of quiet consolidation. This past week was a period of the latter. It was a relatively quiet week other than a bit of a selloff right at the open Thursday. Friday we saw some of the major U.S. banks report. There were a lot of Federal Reserve speakers trotted out – but markets are…

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Weekly Market Recap Jan 8, 2016

The week that was…
Another good week for bulls as a Monday holiday was followed by 3 days of gains mixed in with 1 very tiny pullback Thursday. Dow 20K remained a tease.

It is worth noting large cap technology was a big laggard in the Trump rally; those stocks finally woke up Thursday and Friday this week.

The first week of the month is very heavy on economic data so let’s review:

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Weekly Market Recap Jan 1, 2016

Welcome to the new year!
The week that was…
The four day week was a bit more negative than usual around the holiday but within the context of the post election rally it was not surprising – Santa came very early this year to the stock market. Wednesday saw the most losses with mild action the other 3 sessions. Volume was low as usual this time of year; next week will bring traders back to…

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Goodbye to 2016

It’s been an interesting year on equities this year, with plenty of thrills and spills, and with some extremely dull periods where volatility almost vanished. Not the easiest year to trade, but generally something interesting happening, even if that was only a record-challenging period of very little volatility like the one we saw in the […]
Slope of Hope

A Second Gap Collapse Day for the Emini to End 2016

As we planned from yesterday’s update, price did bounce (gap) up away from our 2,238 target back into 2,251.

That’s the good news – things went exactly as expected.

The bad news?  It happened via an overnight gap and the market collapsed back to our 38.2% target.

This isn’t the first time this exact thing has happened….

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

At this point we’re seeing a repeat of the movement “down away from” 2,270 “toward” 2,251’s target on Dec. 28.

Price went on to shatter this level which set up the collapse down to the current 2,238 target.

We were ready for a bounce but not quite ready for a more powerful collapse back to 2,238.

After a mini-bounce took place here, we’re now seeing a breakdown beneath 2,238 which opens a sell swing toward 2,227.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

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Corey Rosenbloom, CMT

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2016: A Year for Contrarians; 2017 Shaping Up That Way as Well

2016 was the year I finally decided to codify my niche as a psychology-focused market contrarian, putting the Alice, Red Queen and Rabbit components of NFTRH’s logo right there on my inner forearm, forever. This is because I love the imagery and themes of NFTRH’s guiding metaphorical story, Alice in Wonderland, and because the weird […]
Slope of Hope

Weekly Market Recap Dec 25, 2016

Hello – due to the holiday we are going to post this week’s recap a day early!
The week that was…
Pre-holiday trading tends to skew positive with light volume. This past week was mostly that, although a bit less of a move to the upside than normal; but that can be excused considering the tremendous run up post election. Aside from Wednesday there was not a move either up or down greater…

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