The SPX formed a white candle in a support bounce continuation closing up +7.34 at 1,327.22 on Monday. Through Monday the SPX has regained 66% of its 50 point drop last week. The INDU was the strongest index followed by the SPX, RUT and COMPQ was just barely positive on Monday.
SPX white candle, bull flag bounce
INDU white candle, bull flag bounce
COMPQ black spinning top, higher high and higher low
RUT black spinning top, higher high and higher low
Breadth weakened on Monday and remained positive as advancers led decliners 2.09 to 1 on the NYSE and turned negative by two stocks 1.00 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 2,048 1,338
Decliners 976 1,340
Index Chg. Close Direction Confirmation
VIX -0.87 18.35 Down Yes – SPX
SOX -5.07 458.62 Down No – COMPQ
Leading stocks > +2% on Monday included SLW, URE, HUM, AIV, SPG, POT, DOW, GLW
Losing stocks < -2.0% included LDK, TSL, CRM, CSTR, MA, HANS, VMW, V, STI
Positives – INDU, SPX, VIX, Euro, NYSE breadth, AAPL, QCOM, GOOG
Negatives – TNX, AMZN, NFLX, PCLN, NASDAQ breadth weakened, sectors weakened
Did you follow your rules today or did you let the trader's shake you out?
Dave is teaching an AT Workshop in Phoenix on Tuesday...
SPX
Resistance: 1,330, 1,338
Support: 1,321, 1,311, 1,300
The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.
Trade with the trend of the chart you are trading.
Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.
Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.
AAPL +5.05 – white candle support bounce continuation in bull flag
AMZN -3.95 – black spinning top gap down bear flag
NFLX -5.77 – black candle at earnings gap support
QCOM +0.56 – white candle at horizontal breakout, new high close
GOOG +3.36 – white spinning top at horizontal support
BIDU +0.57 – black spinning top support bounce continuation
NDX 100 stocks stronger than the NDX include DELL, VRTX, JOYG, AMAT, URBN, GRMN, CMCSA, SPLS, XRAY, PAYX, COST, SIAL, SBUX, AAPL and ESRX.
Stocks weaker than the NDX include FSLR, AKAM, LINTA, NIDH, MRVL, NFLX, MU, CTRP, AMZN, BRCM, ISRG, NVDA, ERTS, VRSN and ALTR.
Stocks to Watch on Tuesday
Holding Above 30 DMA
NDAQ, VLO, CLF, JDSU, CRUS, GLW, NYX, URE, DISH, DLR, HUM, NTES, CAM, SLB, SPG, CAT, NETL, SOHU, ATW, SWK, ICE, JNPR, AMD, DHR, V, ARUN, CIEN, CMG, HSY, DECK, GMCR, GES, RVBD, SLW, ESI, HLF, TLT, ATI, MOS, SMH, SWKS, VECO, AGU, AIV, BA, FAS, HANS, IPI, POT, SWN, TIF
Moving Above 30 DMA = 5
AKS, CF, DOW, HAS, UNP
Moving Below 30 DMA = 9
ACN, CRM, CSTR, LDK, MA, MCP, SNDK, STI, TSL
Staying Below 30 DMA
FAZ, TIE, A, BAC, DE, FDX, FWLT, GS, JEC, LVS, LXK, MHS, NVDA, PCP, PNC, TBT, UAL, X, PCX, SINA, SKX, WLT, ZION, VMW, UNG, WHR, F, LCC, CHL, FCX, CREE, GME, UCO
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
skip to main |
skip to sidebar
................................................Technical Analysis Focused on Price Action Setups, Trade What You See, Follow Your Rules, Plan the Trade, Trade the Plan, Don't Force the Trade Concepts...Price Action Plus Momentum...©
Dave Johnson, CMT
- Dave Johnson
- David Johnson, CMT Investment professional for 40 years including analyst, portfolio manager, trader and trading instructor. Performing computer based technical analysis since 1990. Previously quantitative and fundamental analysis. Has trained more than 40,000 traders in over 250 events including two and four day training events. Email: chartsignals@yahoo.com
Blog Archive
-
▼
2011
(498)
-
▼
February
(37)
- SPX Closes Higher on Support Bounce Continuation...
- Futures Point to a Highe Open and Support Bounce C...
- SOX, RUT, NDX Lead Market Higher in Classic Bull F...
- Futures Point to a Higher Open...POT Gains on 3 fo...
- COMPQ and RUT Move Higher, SPX, INDU Form Hammers ...
- Futures Flat to Higher Open...PCLN Gaps Up...NDX L...
- SPX Falls for Second Day as Downward Momentum Slow...
- Futures Point to a Flat Open...More Stocks Up Than...
- Futures Point to a Lower Open...
- INDU Leads on Strength of CAT, TRV...
- Futures Point to a Higher Open on Expiration Frida...
- Another New High Close as SPX Hits 1,340...
- Futures Point to a Lower Open...CLF Gaps Up...
- SPX Makes Another New High Close...
- Futures Point to a Higher Open...
- SPX Modest Pull Back on Tuesday as NFLX Cools Off...
- Futures Point to a Lower Open...
- SPX New High Close as NFLX Reaches 245 Breakout Pr...
- Futures Point to a Flat to Slightly Lower Open...
- SPX, INDU, COMPQ, RUT and TRAN New High Close as U...
- Futures Point to a Lower Open...
- SPX Opens Lower and Closes Slightly Higher...
- Futures Point to a Lower Open After Asian and Euro...
- SPX Pulls Back as Key NDX Stocks Rise...
- Futures are Lower in Pre-market Trading and Point ...
- SPX, INDU, COMPQ, NDX and RUT New High Close...
- Futures are Flat to Slightly Higher and Point to a...
- SPX Reaches 1,321 Price Target...New High Close fo...
- Futures Point to a Slightly Higher Open...
- SPX, INDU, COMPQ, NDX and SOX New High Close...RUT...
- Futures Point to a Slightly Higher Open as Unemplo...
- INDU New High Close...SPX Just Short of New High...
- Futures Point to a Lower Open...GMCR, NETL and SOH...
- SPX Spinning Top Above S1...GMCR Gaps Up in After-...
- Groundhog Day...Futures Point to a Lower Open...
- SPX and INDU Make New High Close...
- Futures Point to a Higher Open...BIDU Gaps Up Afte...
-
▼
February
(37)
10 comments:
Finished February up 4.4% for the month.Much better than January. Keep trading the plan. Is anyone beating the SOX?
Dan V
I followed my rules.
Judy B
Dear Dave:
I was shaken out but got back in using my rules! So, I'm firmly long.
Best Regards,
Followed my rules and continued to scale in during the morning plus took new bull flag bounce trades; tested me late in the trading day, but no stops hit and stuck with the plan! Thanks Dave.
Followed my rules :) Enjoy the workshop
I followed my rules and stayed in my trades. It really does get easier the more often I do it.
Thank you for everything
Uwe
I was up 7.4% for the month doing mostly bull put spreads. I write down and grade myself on every entry, A-F. All A's and B's. Just having to write down anything less keeps me out of the trade. ;)
Where do I find a list of Indicies and their % change MTD and YTD? Also, is it calculated from the close of the last day of the previous month,or the open of the first day of the month?
Helen D.
Developing my exit rules has been soooo frustrating lately. That and having less & less of your voice online, too, if I can be totally,candid. Until I started listening to Thurs nite's archive this a.m.
OMGosh! Your "detailed" explaination of the SPY's gap-down at the open & explaination on price-action on the 5minute candles, was right-on time!
However, it just ain't the same around here, without you...
Scott L of Nashville
Should we be at all concerned that the sell off was on very high volume and this bounce is on very low volume?
My accounts finnished up 7.1 % for the month of FEB. Getting out of most of my positions because of feb exp. anyway was a big help and then I could make a small amount of money playing the short downtrend. The timing of the downtrend was a little easier to do as I said, because it came right after many of us had to close out feb positions for expiry. Downtrends may be the most difficult for an account if they come at right when one has many positions on and must take them off with several losses. any comments anyone?
Post a Comment