BMO – ES +8.25 and NQ +13.50 futures are higher about 45 minutes before the open in pre-market trading and point to a higher open…
TLT is down 63 cents and the Euro is up 11 pips in premarket trading…this could mean higher prices on commodities gold, oil, etc…Financials are higher in pre-market trading…JPM, BAC, WFC and others…
NDX leaders AAPL, AMZN, BIDU, GOOG and NFLX are higher in pre-market trading…
Dave’s Insight for Wednesday: The short term trend appears ready to break out…upon a successful breakout the chart target becomes 1,294 on the SPX… follow your rules on entries while continuing to manage existing bullish trades by moving stops according to your rules to protect profits.
Setup Charts to Watch
Bull Flag Setups –CF, WLT, BAC, WFC, POT, V, CAT, TBT, XLF, FAS, STI, GS, SLB, CLF, SWK, WHR, UNG, C, DHR, JEC, ZION, NDAQ, URE, FLS, ATI, DECK, NYX, AGU, AIV, MOS, AKS, X
Horizontal Breakout –DE, TSL, HSY, SINA, NTAP
MACD Divergence – CMG, CREE, CAKE, CSTR, AKAM
Bear Flag Setups –ACN, SKX
SPX
Resistance: 1,281, 1300
Support: 1,256, 1,241, 1,220
Quoting Down – TLT, SNDK, ZION
10 comments:
Sounds like the financials may be ready to run a ways!
BH
How about a Bull Flag Setup on PAY?
--pharmboy
Was ACN a bear flag setup? or really a Bull Flag?
Yes it is, Dave-
Good morning DAVE! It is another beautiful day. I love it when the market breaks out. Of course, I wouldn't even know about a break out if I was looking at one without your well trained eyes. I may need to move my stops up!! Hope you enjoy your day! Judy
Even amidst the rain and snow, yes it is a glorious day! I have managed to capture the breakouts on SINA, NTAP, WLP and MU this week thanks to your generous guidance, wisdom and insight.
On another note, I am 40 trades into the suggested 50 paper trades for the Bullish Gap Strategy presented at the 4-day Live and am wondering if there is a particular reason why there is not an exit rule for a stop adjustment, as there is in the Bullish Breakout and Swing/Flag Strategies?
A grateful disciple, diane e.
Laney your back whoohooooo
this year is starting out very very nicely, thank you Dave.
Dear sista, I am working on it! wfyis.
Post a Comment