By Markus Heitkoetter
It was a wild trading session! The S&P was up 11 points in the morning before a sell-off that put the S&P down 16 points. An afternoon rally had the markets shifting gears once again. If you blinked you might have missed the S&P finishing the day in positive territory, up 6 points for the day. The DOW had finished 87 points higher.
E-Mini S&P traders saw a few nice trends develop during the session, including a nice Simple Strategy long opportunity in the morning. With a current Average Daily Range of 16 points today’s 28 point swing was a bit of a surprise. It’s not everyday when traders have THREE trends in opposite directions to consider.
Apple (AAPL) earning’s reaction provided traders with a perfect Power Crossover Buy Signal.
Following the earnings gap higher, AAPL triggered a buy signal on 4/25/14. With today’s +3.87% rally, Power Crossover Method traders had an opportunity to take an ADR Profit Target at $593.70. Not bad for a 2 day move!