Breadth weakened slightly on Thursday as advancers led decliners 1.41 to 1 on the NYSE and 1.33 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 1,758 1,507
Decliners 1,246 1,128
Index Chg. Close Direction Confirmation
VIX +0.03 17.74 Up Yes – SPX
SOX -4.02 437.36 Down No – COMPQ
Leading stocks > +2% on Thursday included JDSU, UCO, CF, AGU , DE
SPX
Resistance: 1,321, 1,330, 1,344
Support: 1,311, 1,300, 1,288, 1,281
The short term 3 day trend is up.
The six-month trend is up.
The twelve-month 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 -0.12 – white candle, close above 30 DMA, -9.8% correction from Mar 7
AMZN +0.71 – spinning top, close above 30 DMA, -16.1% correction from Feb 14
NFLX -0.17 – spinning top, -23.6% correction from Feb 14
QCOM +0.32 – spinning top, -16.2% correction from Mar 1
GOOG +4.92 – white candle, -12.6% correction from Feb 18
BIDU +1.43 – white candle, new high close
NDX 100 stocks stronger than the NDX include JOYG, FSLR, SYMC, BIIB, FFIV, INTU, CTXS, CTRP, SNDK, CELG, XRAY, CHRW, MICC, CA and HSIC.
Stocks weaker than the NDX include MRVL, BRCM, URBN, STX, EBAY, WCRX, FLEX, SPLS, VOD, ISRG, INTC, DLTR, VRTX, QGEN and CSCO.
Stocks to Watch on Friday
Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, DECK, DLR, FWLT, JEC, URE, CF, CIEN, CRM, LVS, POT, TIF, V
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, DECK, DLR, FWLT, JEC, URE, CF, CIEN, CRM, LVS, POT, TIF, V
Moving Above 30 DMA = 2
AGU, ESI
Moving Below 30 DMA = 4
MOS, VMW, X, ZION
Staying Below 30 DMA
FAZ, AMD, ICE, IL, CAM, NYX, RVBD, JNPR, BAC, CHL, NDAQ, FAS, GLW, JDSU, TBT, CRUS, SWKS, GES, IPI, MHS, SMH, LDK, SNDK, STI, GS, NVDA, UAL
Short Term Market Trend: Up
4 comments:
Dave, thank you for your guidance. Seeing you talk through a trade step by step that DOESN'T follow through was extremely helpful. I can always use more instruction on loss protection and profit management. Thanks again!
Don
Mr Johnson, Sir, Bravo! Last night's (AIT) ATA-TR, was a "standing-ovation" discussion on "Protecting Profits"!!!
If I didn't, actually, cry with tears of joy, I probably should have... Seriously!
Your discussion brought relief to a "missing", vital component of a key part of my learning, that I've been sooo frustrated with, thru-out this bull market..!
Fabulous, Sir!
I simply can't thank you, enough for the level of detail, that you took time to discuss, using JDSU as the example!
Defining, detailing & discussing the "outcomes of unpredictable frequencies"... Wow! Thank you... Beautiful...!
You Are The Man, Sir!
Scott L of Nashville
(To the readers of DJ's blog; ...was that a little-over-the-top? Not if you've been there... yet!)
Thank You, Dave.
Dave,
Protecting profits (ie when to move up stops and where) has been a gap in my trading strategy that I have been struggling with for some time. Thanks for beginning to fill that gap and I look forward to more on this topic.
Thanks for all you do.
Bill
Excellent analysis in the ATA trading room last night!
Gary A
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