Swing Trading Watch List – Feb 1, 2012

31 Jan

60 Minute SPY Wedge

A small, but noteworthy wedge has developed on the broader indices’s. I zoomed into a 60-min chart of the SPY to help identify it clearly. Given that the daily trend for the past 2 months has been up we will anticipate a breakout to the upside, but take a more delta neutral approach to weigh in for a potential sharp sell off.

Stocks to Watch on 2/1:

Longs: FEIC, HMSY, INTU, KFT, ROST, TJX

Shorts: BBG, CVD

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