BMO – ES -0.25 and NQ +1.50 futures are mixed about 60 minutes before the open in pre-market trading and point to a flat open…
TLT is up 6 cents and the Euro is up 73 pips in premarket trading…this could mean higher prices on commodities gold, oil, etc…
NDX leaders AAPL, AMZN, and PCLN are higher in pre-market trading…
Dave’s Insight for Thursday: Watch closely for the difference between price fluctuation and trend change. Continue to stay focused and move stops according to your rules.
Moves on Wednesday
Continuation – LDK, TSL, BAC, MOS, SINA, CLF, UNP, FCX, NTAP, HSY, DE, USD, BIDU, NETL, CRUS, F, GOOG, VMW, DOW, GR, NUE, STLD, A
Resistance Breakout – IPI, CF, C, JEC, NYX, ACN
Bull Flag Bounce – STI, GS, WHR, UNG, DHR, NDAQ
MACD Divergence Bounce –
Support Bounce – FFIV, JASO, TLT, SPG, ICE
Bear Flag Break –
Break of Support – GES, AZO, GME
Setup Charts to Watch
Bull Flag Setups – SNDK, AMD, LVS, WYNN, BYI, AMZN, V, CAT, TBT, ZION
Horizontal Breakout – AGU, ATI, FLS, NFLX, CREE, PNC, ILMN, WLT, WFC, POT, XLF, FAS, SLB, SWK, SKX, ATW
MACD Divergence – CMG, CAKE, CSTR, AKAM
Bear Flag Setups – WFMI
SPX
Resistance: 1,281, 1300
Support: 1,256, 1,241, 1,220
Quoting Down – INFY, ESI, CREE, MA, POT, VECO, WHR, CMG, ATI, DOW, CTSH, BIDU, XLNX, DLTR, LIFE
Quoting Up – DE, SINA, VMW, DECK, NYX, CAKE, HLF, CLF, GS, URE, UNP, FDX, PCP, WLT, IPI, PNC, WYNN, SHLD, PCLN, AAPL, WFMI, NTAP, MU, CELG
2 comments:
can anyone elaborate on what signals are we watching for to distinguish between price fluctuation and trend change?
Am I correct in thinking that a break of the trend right now would only occur on the SPX right now at the 1260 level? Would any movement staying above this level just be price fluctuation?
Thank you.
Good morning DAVE! Thanks for your daily post. Last night's post is so amazing! So much to digest. WOW! Following on the anonymous question, I too am watching the price fluctuations and wondering about trend change. Would that mean lower highs/lower lows as opposed to consolidation/pull back? I do enjoy your blog everyday. Have a great afternoon. Judy
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