Continuing our focus on the tech sector as we did last week, GOOG, AMZN, and AAPL are beginning to look rather attracting and are show signs of potential setups. We continue to scan for stocks making new 52-wk highs and 52-wk lows each evening at the close.As trading slows for the summer this week’s economic announcements should set the tone for the months to come. Most of the market’s “big hitters” have packed up their things and are headed to…
The Los Angeles Traders Expo, June 3-6 was a blast to say the least! Along with listening to speakers like John Carter, Toni Turner, Alexander Elder, Jeff Greenblatt, Don Kaufman, and Jon Najarian we got to mingle with all the guys who run thinkorswim including the one and only, the president of TOS, Tom Sosnoff.The co-founder of the Trader’s Expo Tim Bourquin also conducts interviews through TraderInterviews.com, where my interview on market psychology and philosophy can be found.Nevertheless another successful…
In the week ahead look for these news announcements to act as potential market movers…· Mon: Housing Market Index 1:00 PM ET· Tues: Housing Starts 8:30 AM ET· Tues: Producer Price Index 8:30 AM ET· Tues: Industrial Production 9:15 AM ET· Weds: Consumer Price Index 8:30 AM ET· Thurs: Jobless Claims 8:30 AM ET Friday is Option Expiry along with a Quadruple Witching, meaning contracts for stock options, stock index futures, stock index options, and stock futures all expire on…
Watch for a move over last week’s consolidation level on the S&P should send stocks higher. If a breakdown is to occur we would expect to see it happen in one day with heavy selling and high volume. Watch tech stocks like GOOG, AMZN, and AAPL to lead the market higher.
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We will be taking a short few week hiatus, but do not fear, we will be back bigger and better than ever.In our return you can look forward to…– More In depth Market Commentary– Detailed entry and exit of trades– and Video Watchlists and Chart AnalysisTa Ta for now…Happy Trading!
Last week created a strong argument for the bulls as Bernanke said the economic outlook may be strengthening. We will be watching the 934.85 level on the S&P as it is the Year-To-Date high. The Russell is also close to breaking its YTD high, the Dow has a good 500 points to go. This week marks the 6th week of the NASDAQ sitting positive on the year at +10%. The S&P and Russell going positive on the year in week…