BAC…starting to like from the long side…
it's an if and when trade…i.e. a close above $7.50 would get us long for a bucket 2 trade. bank indices like the BKX and XLF are above resistance points and still acting well enough to continue this push higher after a pause. first note the 2011 downtrend that is for the very moment still […]
mind the gaps!
the chart here displays a 15 minute chart of the S&P 500 emini futures (december contract). note the 10 point gap above the market (upper gray zone) and the 20 point gap from last thursday below the market (lower gray zone). one of them should fill either today or tomorrow.
Walgreen interesting above $34.80
1) WAG is currently trading at the bottom of a three year channel….a very wide trading channel. 2) on the daily chart there is resistance at around $34.70 and the 50 sma (yellow line). A solid daily close above $34.80 may be a solid long-entry for a bucket 2 try
Stocks to watch should we move higher still:
Gap Fill Plays: NFLX, LNKD TZOO, X, WAG
Morning Thoughts October 31
U.S. stocks closed Friday with strong gains for the week, leading the S&P 500 Index to possibly finish October with the biggest monthly gain since 1974. Stocks continued their rally after the European rescue fund was boosted to 1 trillion Euros and banks agreed to a voluntary writedown of 50 percent on their Greek debt […]
monthly charts with bullish undertone
yes october will most likely have been the second best month on record…nice. with that it also left its mark on the montly charts…note the charts of the SPX and NDX below. both recorded monthly outside bars. that is bullish all else being equal. not an actionable catalyst in and of itself however but something […]
XHB nice short setup
the SPDR homebuilder etf (XHB) looks like a good risk/reward short. note the 200 day simple moving average (red line) and the doji that the etf left right there yesterday. a decent quick bucket 2 short side entry with a clear stop above Thursday's high might be considered.
casinos breaking out…
they could be one of those year-end squeeze plays. note the weekly chart of LVS below…a solid daily close above $50.50 or so may be a solid long-entry point. WYNN too is looking better.
Morning Thoughts Friday October 28
A little consensus and shifting a good amount of the debt burden to the banks was all it took from Europe and markets went bananas over it. I guess after all the back and forth by European officials over recent months it was a relative improvement. But all is not resolved quite yet. In fact, […]
some perspective in an otherwise nutty rally
S&P 500 up 17% in 18 trading days Nasdaq 100 p 15.5% in 18 trading days Russell 200 up 26% in 18 trading days SOX semiconductors index up 21.5% in 18 trading days remember that rallies that turn vertical often have sharp corrections…