Get started

Spike

CNC At Important LevelCentene NYSE:CNC fired off a signal on this morning's open at a "50 in 50" level. The most important level is the COVID Low to All Time High 50% Retracement which for the last few weeks price has been testing. This is an important multi-year level that the stock price needs to hold to continue to retest the all time high. To reduce the initial risk on this trade I will drill down to the swing trading timeframe price action. Here we see the last few weeks with an overshoot of the support, price recapture the major 50% level, and now do a short term 50% Retracement around that level. Holding within this range sets up for a long term bullish move off the Supports.
NYSE:CNCLong
by norok
1
Solid Level for AMZNI have been stalking NASDAQ:AMZN share prices for months now watching as it retraced from the All Time High down to a full 50% Retracement from the All Time Low. This is a pretty epic pullback level that took decades to create. The 6 month downtrend from 146 > 81 created its own 50% Retracement at 114 as Resistance. February earnings popped to this level and confirmed it. As the January bull run fades AMZN comes back again to test the broader level. Even as we drill lower to the intraday timeframe we can see the 50% Retracements begin to setup. The volatility around today's FOMC minutes shows respect for the level. This sets up a low risk opportunity to play the decadal Support.
Editors' picks
NASDAQ:AMZNLong
by norok
26
HSIC Bounces Resistance/SupportThis morning, the first trading day of 2023, I ran my S&P 500 spike scan like every morning. The spikes were skewed heavily to the bearish side with 99 Bearish Spikes and only 1 Bullish Spike. That spike was HSIC NASDAQ:HSIC . I like the context of this price action happening at the 50% Retracement of the bear move from the All Time High down to the October Low. Price recaptured and broke above the 78.72 Retracement Level and has now pulled back to test it as Support. The 30m timeframe on Tradingview does not show the spike but the low of this morning's open was 78.70. This low can define the low risk for a 30 minute timeframe entry to play the broader move on the Daily timeframe to retest the ATH.
NASDAQ:HSICLong
by norok
1
PSA Win Looking Good for HigherI carved out a win today on NYSE:PSA to start a trend off the Weekly 50% Level. This has a chance to run based on the technical setup as well as a possible secular bull trend if one believes people will need to store their stuff into a housing crunch. The initial trade began on a 30 minute timeframe spike (which unfortunately was not caught on Tradingview data). With a stop just below the spike low of 1/19/23 I was able to play the position to a conservative high retest. Now I am keeping on shares as runners. Incidentally... PSA has held a major 50% pullback before on the COVID low. The entry point now is the 2016 high of that trend that created said pullback. This is a great level to take long.
NYSE:PSALong
by norok
LMT PullbackI sold off some of my long term LMT holdings last week before EOY to capture some capital gains. LMT was a big winner of 2022 up over 37% and price was stalling at the All Time High. This morning I received an alert for an opening price spike that created a critical low at 469.35. This is not a spike I would take as a reversal to go long. Rather, I am watching to see if price breaks this low to signal a breakout short. If the short breakout triggers I would look for a pullback to the 50% Retracement of the last earnings rally around 445.
NYSE:LMTShort
by norok
Market Top on CPI News - Santa might not come this yearThe price action of 2022 has been dominated by inflation related news. The start of the recent rally began with the October CPI print where an expected 8.3% came in at an actual 8.2%. This was a slight change but the first sign that inflation may have peaked and thus the Fed might pivot from their interest rate hikes. The market has loathed higher interest rates all year. Even if one did not know the details of the news the action of price was enough to see the signal of a rally. Price performed a false breakout to the downside (A Bullish Spike) seen on that October 13th Daily bar that kissed the 50% Retracement of the entire COVID Rally as seen on the Weekly chart below: This week yet another CPI news event triggered a Bearish Spike at the 50% of entire bear move from the ATH down to that October low. This in itself is a sign that the market will be bearish through the end of the year and into 2023. Additionally, the inverse relationship of the VIX TVC:VIX gives another clue that the market has turned. VIX for the third time this year has made a turn at the key Support of 20 which in both March and August signaled the highs for that period: I would like to believe in the Santa Claus rally for 2022 but the technical signs point to coal in equity stockings...
CME_MINI:ES1!Short
by norok
Howto Day Trade Nasdaq Futures - Reversal AND Breakout Same Day!Today was an unexpectedly exciting morning to trade Nasdaq futures CME_MINI:NQ1! ! I love trading false breakouts and this morning (November 1, 2022) provided double sided action where buyers and sellers battled it out. The one to break first was going to be the winner and today it was the bears! My best strategy which I have been honing for years relies on these price spikes and today's action played out beautifully for both a reversal off the week's double top and a breakout to continue that reversal. By popular demand I am making this video demonstration to help traders learn to spot this unique price action. This action and opportunity does not come around every day but when it does it yields some Home Run wins (or as I call them... properly risk adjusted trades)!
CME_MINI:NQ1!Education
by norok
6
UPS Post Earnings PullbackNYSE:UPS Triggered a spike alert this morning which is happening at the 50% Retracement of the Post Earnings Rally. (see below for Daily higher timeframe context) These are the real "earnings plays" that can yield positive returns rather than trying to buy a guess on the day before. Trying to buy or sell the day before earnings is a guess but very often earnings cycles create these setups weeks after a move has occurred with a much higher probability than a 50/50 bet.
NYSE:UPSLong
by norok
EURUSD in the BOX !Hi dear friends; According to the two falling equal lags that you can see in the chart left side (two-piece spike), now I think we are in the trading range of the market cycle after the descending channel. On the other hand, we can see the price second encounter to the top of the trading range also, it seems that the double top has been forming, and the price can fall to the lowest part of the box. I will be waiting for the confirmation of this double top in different time frames. The news from the Federal Reserve indicates an increase in interest rates also. I think that the Euro will lose resistance soon! Cordial regards.
Short
by ali5adeghi
JP Morgan (JPM) Post Earnings PullbackFor certain stocks I have Spike alerts setup on multiple timeframes to find opportunity. Today a Spike Alert triggered on the 2 Hour Swing Timeframe for NYSE:JPM . Where this spike in the opening morning price is occurring is at the 50% Pullback to the post Earnings rally. I was able to put on a position at the 50% proper this afternoon. This sets up a very low risk entry to play a move back to retest to highs of the post-earnings rally and beyond.
NYSE:JPMLong
by norok
3
Nasdaq TopNotable figures such as Michael Burry and Puru Saxena have taken opposing sides on what this rally means. I enjoy how Burry made a very hedged statement... noting that at 23% it was within average but did not imply the Nasdaq's rise itself predicted the future. Puru took a more affirmative view that this was more than a bear market rally. Today's intraday price action on CME_MINI:NQ1! was a morning sell off down to support: Price counteryeeted at an Overnight low Inflection Point into a sharp rally which has been all too common in the last many trading days. But that price action showed the signs of a false breakout here after a long, extended rally. The Spike fits my rules and must be taken. With a stop above today's high the risk is fixed and a proper 3 to 1 down to a 50% Retracement of the recent move up from August 9th. CME_MINI:NQ1! .
CME_MINI:NQ1!Short
by norok
1