American Express (AXP) Bullish Patterns
AXP is holding up after earnings last night and the bullish patterns remain in tact. As discussed with premium members this morning, a break and close above $47.20 could be buyable for a bucket 2 trade. I would even be inclined to turn it into a bucket 3 holding should it hold above 55 on […]
Intel (INTC) To Rally Much Higher?
After yesterday's large rally in INTC, the semiconductor complex almost completely destroyed a very bearish chart pattern in many semiconductor stocks, as well as in the SMH ETF. The point here is not so much to look into the details of the daily chart but noticing how hard INTC bounced off the $19 area, […]
S&P 500 Daily Chart Analysis – April 21
As I've been discussing with Premium Members over the past week or so, the S&P 500 is starting to get into a position for a nice move higher, potentially as high as 1440. On the chart below let's notice a few key parts. First, the 50% retracement of the December lows to the February […]
Morning Line-Up: Trading Plan For Today April 21
This is the opening summary of the Premium Members Morning Line-Up Newsletter that I publish daily, along with the Mid-Day Update and the Martini-Hour Thoughts. The actual newsletter includes much more detail, such as exact trade setups with entry points, stops and limits, and tons more. Morning Line-Up Thursday, April 21 Good […]
Quick Daily Summary Thoughts – April 20 – Strong Like Bull
Story of the day; 16point gap up in the futures this morning and sideways for the rest of the day. Nothing to see here folks, move along. Well, after the bell AAPL QCOM, FFIV and others includine YUM and CAKE came out with good earnings and as of right now all of them are ripping […]
Fossil, Inc. (FOSL) Breakout!
One of the number of stocks breaking higher today is FOSL. The stock has pretty much gone parabolical over the past 12 months but afer a little consolidation phase over the past month or so the stock so far today has put in a nice breakout trade. I dipped my toe on the water on […]
Have You Seen My Trading Plan eBook?
‘Multi-TimeFrame Trading & Investing – A Comprehensive Trading Plan’ http://steadytrader.wpengine.com/trading-plan/
Semiconductors Are Messing With A Bearish Pattern
After announcing earnings last night, Intel is up almost 7% as of this writing today. As such it has sparked a rally in the semiconductors that led the SMH ETF to break above its 50 day movnia average and above the key 61.8% Fibonacci retracement level. Individual names like CY and AMAT still have their […]
Pharma Stocks (DRG) Break Higher Today
Please see my blog entry from Monday April 18 here http://steadytrader.wpengine.com/are-pharmaceutical-stocks-about-to-rally-big/ Today the AMEX Pharmaceutical Index (DRG) is breaking out and higher above the $320 discussed on Monday. Individual names like Pfizer (PFE) are acting well of course. This all goes in my theme of non-cyclicals/defensive stocks starting to outperform the broader tape, as discussed here: http://www.minyanville.com/businessmarkets/articles/sp500-utilities-consumer-staples-financial-sector/4/18/2011/id/34021
Home Depot Continues To Act Well. Adding
I've pointed out HD here http://steadytrader.wpengine.com/is-home-depot-hd-ready-to-rip-higher/ and it continues to act well. In the Morning Line-up newsletter this morning i raised it again to subscribers and we are adding to longs. Stops remain around $36 and profit targets are layered above $38.50.