Luck of the Irish...Stocks Move to New High Day...

Thank you, each and everyone of you who have already and each of you that are now emailing me your feedback on what you now find useful in Chartsignals…We are very close to having a valid sample size of readers opinions…if you have not yet emailed you insights, PLEASE take a moment to do so…when you do, we can make informed decisions on continuation and deletion… I am personally reading every single email and I am gaining some very valuable insight into what is useful, what is not and a few have even shared what they would like to see added… Once we have a valid sample size we will aggregate the data so that we know totally and completely every one of the insights you have taken the time to share…So that we can move from the informed guess level (which is where we are at now) to the Valid Sample Size with a high Confidence Level (yes, these are statistical terms)… Will you please take just a moment now to email me at chartsignals@yahoo.com and tell me: What information in Chartsignals do you find useful right now? Once again, the benefit of taking a moment is that I won’t delete something that is useful to you and I will delete information that is not that useful…and Chartsignals will become a more effective and efficiently delivered source of what I see and what I’m thinking every day…I do appreciate everyone that is willing help me help you and the rest of you, well yes, I would appreciate your help too…Dave DJIA + 178.73, +2.48% SP500 + 24.23, +3.21% NASDAQ Comp. + 58.09, +4.14% Russell 2000 + 17.23, +4.46% Exchange NYSE NASD Advancing 2,877 2,120 Declining 889 617 Oil $49.16 +$1.81 Gold $916.80 -$5.20 SOX 220.91 +8.75 VIX 40.80 -2.94 The VIX moved down and did confirm the move up in the SPX on Tuesday. Strongest Sectors: XLF +6.49%...XLY +4.83%...XLK +3.64% Weakest Sectors: XLB +0.86%...XLV +1.55%...XLU +1.57% Sector Watch Up Trending: Sideways: XLE, XLY, XLV, XLK Down Trending: XLF, XLP, XLI, XLB, XLU Monday’s reversal day was at least temporarily reversed with the Luck of the Irish on Tuesday. I mentioned in my webcast Monday night that I was a little bit concerned on Friday when I participated in the Weekly Wrap with Tim and JJ as they both saw the market rolling over and coming back to a bottom, essentially the same view that I had. One thing I have learned from years of experience is that if everyone is expecting the same thing there is a good chance it won’t happen. Well it looks like my subconscious may have been picking up on something. It’s only one day and it may just be anomaly but it certainly causes me to reflect on what I was feeling on Friday. This is also why I suggest you stay with a short term trend until it breaks the low of the high day. Monday night I also stated that the counter trend patterns were textbook perfect but also pointed out that did not mean they would be profitable. Again I reiterate as traders we must trade the market not our thoughts. I pointed out last week that the market can do anything and that while a V bottom was not the most probable outcome, that since the market came down four straight weeks that it certainly was possible that it could go up for four straight weeks and recover the last move down. Again stay with the short term trend until it ends. All four indices moved to higher highs on Tuesday. The Financial Sector XLF rose +6.49%. Leading financial stocks which gained 6.5%+ included CME, STT, MET, PRU, JPM, ZION, BK, NTRS, AFL, C, ALL, SPG, IVZ, WFC and CB. Index Commentary The DJIA reverses Monday’s reversal and returns to 30 DMA and the 50% Fib, new high close in this counter trend. The SPX reverses Monday’s shooting star and closed above its 30 DMA and its 50% Fib Retracements (Feb 9)…new high close is this short term up trend. The Nasdaq reversed Monday’s bearish engulfing and rose to its 50 DMA and 61.8% Fib retracement (Feb 9). Today is a new high day in this counter trend move. The RUT formed a large white candle that reversed Monday’s bearish engulfing…rose to its 50% Fib retracement (Feb 8) and its 30 DMA…a new high day. At the Open on Wednesday Counter Trend SPY – outside day large white candle makes higher high BA – hanging man did not confirm Monday’s shooting star lower high in bear flag WHR – hanging man-like in bear flag BDK – hanging man-like lower high at 30 DMA in bear flag DE – hanging man at 30 DMA in bear flag WYNN – piercing line after one day bearish engulfing at 20 DMA in bear flag ADS – large white candle lower high at 30 DMA in bear flag DECK – large white candle outside day after inside day at 20 DMA VNO – piercing line after two day pull back SPG – potential bullish harami after two day pullback FWLT – lower high white candle after one day pullback

Stocks to Watch on Wednesday Leading Stocks: Holding Above 30 DMA BIDU, CLB, BKC, NFLX, DLTR, HANS, ICE, ALGT, MOS, DLB, JEC, PWR, VPRT, AMZN, MON, AAPL, CTSH, FLS, JOYG, AMX, APEI, AXYS, BAP, CAM, GMCR, GPRO, JCOM, JOSB, MUR, PCLN, PETS, WMT, ATW, GR Moving Above 30 DMA = 9 BIIB, MYGN, SLGN, SWN, SYNA, ACN, SNHY, EBAY, UYG Moving Below 30 DMA = 0 Staying Below 30 DMA FSLR, GME, WRC, CPLA, ESRX, GES, PSYS, CHL, DECK, GILD, MHS, TDG, SPWRA, AMED, GXDX, PCP, RBN, DV, ESI, VAR, WCG, BLUD, JW.A, MUR, ORCL, RCI, HLF, STRA, PCR, RIMM, BDX, BYI, PPD, NIHD, K, NTLS, HDB, CBST, SNA, AFAM, MCD, EZPW, WAB, FAS

Tuesday’s Action (=> +$0.70 or -$0.70) Moving Up: BIDU, STRA, MA, GS, SOHU, V, SINA, POT, NDAQ, BTU, BRCM, PNRA, ONXX, ESRX, KRE, COH, ZION, MS, PCLN, HANS, MOS, KBE, FWLT, GRMN Moving Down: FSLR, NUE, GOLD, SCHN, NEM, GLD, GDX Intermediate Term Market Trend: Neutral – Nasdaq; Down – DJIA, SPX, RUT Short Term Market Trend: Up