If the SPX and COMPQ open based on their pre-market levels this is a horizontal breakout which suggests a move to the measuring distance level...expect a breakout this morning with a potential price of the next resistance levels...which over the next two to four weeks the chart measures at 1,280...
Major NASDAQ stocks GOOG, AAPL, AMZN, BIDU, NFLX and QCOM are higher this morning and supporting the breakout...
Financials XLF +0.12, +0.87% are the leading sector in pre-market trading.
TLT is down -1.02 and the Euro is up 75 pips....
SPX
Resistance: 1,220, 1,241, 1,256
Support: 1,209, 1,200, 1,190Quoting Down - JOYG, CELG, TLT, HLF, FLS, AMX, V, FAZ, PCLN, SINA, DHR, RIMM, CERN, NIHD, LIFE, ILMN, FLES, LRCX
Quoting Up - GOOG, AAPL, AMZN, BIDU, WYNN, ISRG, FCX, NFLX, CRM, X, DECK, VMW, CAT, CLF, FFIV, CMG, WHR, SLB, FAS, TBT, RVBD, POT, LVS, CHL, TSL, SNDK, AKAM, AKS, JEC, GS, PNC, MA, MCD, UCO, FDX, RMBS, GR, WLT, AGU, DOW, QGEN, LOGI, ADP, GILD, BRCM, YHOO, TEVA, NVDA, CHKP, INFY, ADBE, ALTR, ORCL, COST, VRTX, MAT, BBBY, DTV, CSCO, MSFT, ATVI
2 comments:
Dave, last year all my best effort allowed me, was to get into the BDK trade, exit on the 1st little price-fluctuation. Then watch all the other students go on, to do "the trader's happy dance"!
However, thanks to your unrelenting determination to make real traders out of guys like me, this time, I might just be "gettn it"!
Thank you, Dave!
Scott L of Nashville
Good Morning DAVE! I really appreciate that you continually reinforcing the basics. I have mentally been watching for a breakout in $SPX (or bounce down). It is so nice to read what you write down, to confirm what my brain is thinking. But, you always add the great icing to it all. Some day, I hope it comes more naturally to me. I really appreciate all that you do. And Scott, yes, my first GREAT trade was BDK (and not jumping out). That and DAVE's encouragement to have a plan with rules. All of DAVE's advice and everything else from DAVE's endless toolbox has helped my confidence grow, and my account balance. Thanks DAVE! You are much appreciated! Judy
Post a Comment