Take the opportunity to read the January 1 post if you have not already done so and send your email, which can be the first step to making 2011 your best year yet! Don’t miss out…
The SPX sold off to Monday’s S1 level then rallied to close down -1.69 or -0.13% at 1,270.20. Still 11 points below 1,281 December breakout price target. The INDU closed higher while the RUT sold off -1.59%.
(click image to enlarge)
SPX black candle inside day potential hanging man
INDU white candle inside day
COMPQ piercing line
RUT bearish engulfing
Breadth weakened on Tuesday as decliners led advancers 1.71 to 1 on the NYSE and 2.11 to 1 on the NASDAQ…
Exchange NYSE NASDAQ
Advancers 1,111 854
Decliners 1,901 1,808
(click image to enlarge)
Gold finally cracks with a fade off resistance.
Gold finally cracks with a fade off resistance.
Index Direction Confirmation
VIX Down No – SPX
SOX Up No – COMPQ
Leading stocks > 1% on Tuesday included SINA, LVS, CLF, DISH, AMD, WLT, NYX, ARUN, UAL, MA, NETL, VECO, SOHU
Leading stocks > 1% on Tuesday included SINA, LVS, CLF, DISH, AMD, WLT, NYX, ARUN, UAL, MA, NETL, VECO, SOHU
Losing stocks < -1% included SKX, UCO, NTRI, ESI, URE, ATW, DECK, MCD, SPG, GES, LXK, GMCR, SLV, AIV, HANS, IPI, ATI, DLR, FWLT, CAM, TSL, JEC, LDK, TIE, FLS, STI, CSTR, GME, AGU, ZION, MOS, WHR, RVBD, PNC, HAS, SWN, AKS, BYI
Interest rates were up slightly on Tuesday and bonds moved slightly higher. The Euro moved down 54 pips to 1.3306 at 5 pm ET.
The SOX rose +0.53, closing at 415.58 on Tuesday and the VIX moved lower -0.23 and closed at 17.38.
Three of nine sectors moved higher on Tuesday with Utilities XLU +0.45% and Technology XLK +0.39% leading all sectors.
Moves on Tuesday
Continuation – CLF, WYNN, SWK, VMW, AMD, X, DOW, GS, NDAQ, WFC, BAC, GR, WLT, BYI, CF, FAS, NUE, STLD, A, DHR
Resistance Breakout – NYX, C,
Bull Flag Bounce – LVS, ATI, F, ILMN, ZION
MACD Divergence Bounce –
Support Bounce – CMG, TSL, JASO, RMBS
Bear Flag Break – SPG, TLT
Break of Support – ATW, WFMI
Continue to watch our Bull Flag Setups and Horizontal Breakout Setups for potential entry signal...
Setup Charts to Watch
Bull Flag Setups – AGU, MOS, URE, GME, FLS, FCX, AIV, SLB, AZO, IPI, GES, ICE, NTRI, DECK, HSY
Horizontal Breakout – SINA, NTAP, AMZN, CRUS, AKS, UNG, X, PNC, WHR
MACD Divergence – CREE, CAKE, NFLX, CSTR, AKAM, BIDU, LDK
Bear Flag Setups – FFIV, ACN, HAS, V, SKX
Horizontal Support Breakout – TBT
Continue to trade with the trend of the chart you are trading.
SPX
Resistance: 1,281
Support: 1,256, 1, 241, 1,220
Enter bullish trades with a bounce off support and a break above the high of the low day or a break out of horizontal resistance. Monday was an entry signal for many stocks.
Enter bearish trades on a break of short term support or a bounce down from the 30 DMA. There was a potential short term exit signal on the RUT today. Prepare for other potential exit signals on Wednesday.
The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch. Trade with the trend of the chart and follow your rules.
The six-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch. Trade with the trend of the chart and follow your rules.
AAPL +1.72 – potential hanging man, new high close
AMZN +4.22 – spinning top potential evening star, new high close
NFLX +2.96 doji and MACD bullish divergence
QCOM +0.69 – white candle new high close
GOOG -2.23 – black candle at resistance
BIDU +1.24 – white candle at short term resistance and MACD bullish divergence
NDX 100 stocks stronger than the NDX include CTRP, WYNN, AMGN, MU, NFLX, QCOM, NWSA, VOD, INTC, BIDU, URBN, GILD, WCRX, ISRG and DTV.
Stocks weaker than the NDX: SHLD, ORLY
Stocks to Watch on Wednesday
Holding Above 30 DMA
SINA, WLT, SLB, NDAQ, USD, GR, RVBD, BYI, CAT, X, CLF, INFA, VMW, SNDK, CRUS, FCX, FDX, AKS, A, AMD, DHR, DOW, FLS, GME, ICE, PNC, UCO, DE, FAS, JEC, STI, SWK, WHR, ZION, ACN, BAC, NYX, ESI, IPI, MCP, ATI, CF, AIV, GS, URE, AGU, MOS, POT, UNP, BA, RMBS, SWN, UNG, ARUN, CHL, CREE, NETL
Moving Above 30 DMA = 2
LVS, VECO
Moving Below 30 DMA = 11
Staying Below 30 DMA
ATW, GES, HSY, TLT, HAS, HLF, CRM, MHS, CAKE, TIE, MA, SKX, V, CSTR, CMG, SOHU, MCD, UAL, FAZ, NTES, LXK
ATW, GES, HSY, TLT, HAS, HLF, CRM, MHS, CAKE, TIE, MA, SKX, V, CSTR, CMG, SOHU, MCD, UAL, FAZ, NTES, LXK
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Short Term Market Trend: Up
2 comments:
thanks for your post dave
Thank you for answering my question Dave. Most of my trade ideas do come from Chart Signals, including the ones you listed. I miss the "take a look at these charts", but I know you're spread pretty thin. I like to see what stocks stand out in your day.
Again, thank you!
Gary
Post a Comment