© 2024
January 10, 1977, was my first day as a financial professional.
The DJIA close was 986.87. Yes,
that was less than 1,000. Today is my 47th
anniversary and the DJIA close was 37,695.73.
That is a gain of 36,708.86 points or +3,777%.
Good trading and investing are like any skill, it requires effort to develop and commitment to apply correct principles day in and day out, week in and week out, month in and month out,
and if you apply correct principles, you can expect great results over a series
of trades.
Trading is a decision-making process. Good
decisions require focus, effort and concentration to be objective, logical and
rational. You must learn to think probabilistically,
cyclically and remain flexible. Don’t do
straight line extrapolations. Have a trading
plan, a well-defined set of rules and use a trading journal.
Traders should always exercise discipline;
discipline in following a well-defined approach.
Traders should define successful trades
as those in which they followed their rules, regardless of whether the trades
were profitable or not.
Just below the orange Dave Johnson’s Chart
Signals above is a link: Technical
Trading Observations, where I share many additional insights for the technical
trader. Read and integrate them into
your thinking.
Every trading day (excluding vacations) for the
past six years I’ve spent multiple hours with traders who want to take their
trading to the next level by showing them how to think and apply a
systematic trading approach in real-time, in the real world.
If you are committed to improving
your trading skills, you should click the link above Live Mentoring with Dave.
Best of success…Dave Johnson
The SPX +26.95 4,783.45 opened flat, traded
in a range for about three hours before trend up in the afternoon to a higher
close. While the broad market SPX inched
higher individual stocks like PANW, META, CRWD, NVDA, MSFT and DASH
were stronger than the market rising 1.5%+
to 5.2%+, while the SPX rose +0.57%.
CPI report Thursday, Jan 11, 8:30 am ET. PPI report Friday,
Jan 12.
Earnings Season unofficially starts Friday, January 12 with JPM,
BAC, C, WFC, BK, BLK, DAL, UNH reporting BMO.
Mega caps META, NVDA, MSFT, AMZN,
GOOGL, AAPL rose and TSLA fell on Wednesday.
SPY up 2.68 at 476.56 on 67.2 million
shares, below average volume, closed higher on higher volume.
VIX down .07 at 12.69
QQQ up 2.75 at 408.50
HD, MSFT, WMT, MCD led the DJIA, 20 advancers, +10
ISRG, PANW, VTRS, META, COO, LEN led the SPX, 278 advancers
ISRG, PANW, MDB, TEAM led the NDX, 53 advancers.
The two-year trend term is sideways. The
one-year trend is up.
Up: QQQ, SPY, DIA, IWM,
Down:
Seven of eleven sectors were higher on Wednesday, led by XLC,
XLK and XLY.
The SPY
MFC green line turned up at 78.5 and is short-term bullish.
Uptrend sectors: XLC,
XLK, XLF, XLY, XLI, XLRE, XLB, XLV, XLP, XLU,
Neutral sectors: XLE,
Down trend sectors:
The 6-month intermediate
trend is up. The ten-day trend is up a little.
3-month Intermediate Term Market
Trend: Up
3-day Short Term Market Trend: Up
53 of 100 NDX stocks
closed higher on Wednesday.
67 NDX stocks are above their 30
DMA: DLTR, INTC, AEP, CRWD, CTAS, ROST, TMUS, DXCM, AMD, QCOM, KHC,
COST, PCAR, PDD, ZS, BKNG, MAR, IDXX, ISRG, CSX, TXN, XEL, MRNA, TEAM, REGN, AMGN,
GILD, ILMN, BIIB, WBA, AVGO, MRVL, MU, ANSS, FTNT, GEHC, SIRI, AZN, META, VRTX,
CSCO, CCEP, SPLK, GOOG, MNST, ADP, MDLZ, ADSK,
CMCSA, NVDA, PYPL, ABNB, AMZN, CTSH, DASH, DDOG, GFS, GOOGL, INTU, LRCX, MSFT,
NFLX, WDAY, EA, PANW, TTWO, CDW, FAST, HON, MELI,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 4
CDW, FAST, HON, MELI,
Moving Below 30 DMA = 0
Add Comments here:
4 comments:
thanks for everything you do
Happy Anniversary Dave!
Sue...you are welcome...Dave
J. A., thank you...Dave
Post a Comment