9:50 am - VECO gapped lower and has filled its gap and is currently a white candle...
BMO - ES -6.50 and NQ -10.25 futures are lower in pre-market trading pointing to a lower open...Remember Monday signaled a Yellow Alert...Watch for a break and close below the Low of the High Day of the stocks you trade and follow your rules...
TLT is down 62 cents and the EURO is down 82 pips...
Stocks to Watch for a potential bearish setup - VMW, INFY, CREE, FAST, SWK, TSL, CRM
Potential Bearish Gaps - LXK, X, VECO
Trading Down - LXK, X, VECO, PCLN, FCX, CLF, CAT, URE, CRM, GR, WLT, JEC, AKS, CREE, RVBD, GS, SLB, TLT, GMCR, FDX, FFIV, CMG, ICE, WHR, SOHU, CHL, UNP, DHR, FAS, IPI, DE, LVS, MA, PCP, AGU, V, MOS, CSTR, NTES, BYI, CRUS, SNDK, GOOG, ISRG, PCAR, PCLN, AAPL, APOL, EXPD, VRTX, BIDU, AMZN, AMGN, LOGI AKAM, CTXS
Trading Up - ATI, NFLX, MHS, TBT, STI, FAZ, FSLR, ROST, CEPH, FISV, ESRX, ILMN, SHLD
Tuesday, October 26, 2010
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4 comments:
Good morning Dave! Sorry I missed your posts yesterday. I am checking them out now and reviewing today's comments. The markets seem to be "churning" or "grinding" and I like to see your peak at what the future may hold. Thanks for yesterday and today's posts. Happy Trading. Judy
Dave
You are indicating to watch $SPX for a potential trend change because of the shooting star at resistance. You indicate the $SPX resistance at 1182, 1190 and 2000.
I can see some resistance at 1182 at the bottom of a flag pattern that last from 4/12 – 5/4.
I am not sure I see the 1190 resistance. Can you point out the date this occurs?
As always, thanks for sharing your expertise!!
Mike
Dave,
My BGO is the Yellow Alert. Thanks for pointing it out and giving a clear explanation on yesterday's blog.
As always, thank you! I will be there one day.
By the way, I hope your last Friday was another great birthday with your family!
--Jessica
Mike,
I'm not sure what you are looking for but did you see sellers come in yesterday and drive the SPX down from 1,190 and create a shooting star?
The past doesn't matter if there are no sellers now. Monday's sellers are resistance now.
I did show the 1,190 support in late April in Monday nights webcast.
Cheers,
Dave
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