Potential market movers in the week to come are…· Mon: Ben Bernanke Speaks 6:30 PM ET· Tues: International Trade 8:30 PM ET· Weds: Retail Sales 8:30 AM ET· Thurs: Producer Price Index 8:30 AM ET· Thurs: Jobless Claims 8:30 AM ET· Fri: Consumer Price Index 8:30 AM ET· Fri: Industrial Production AM ET· Fri: Consumer Sentiment 9:55 AM ET OPTIONS EXPIRY MAY 15TH! Next week we will be watching the market action at the S&P 934.85 level. If you aren’t…
Stocks to watch this week are… ARST, MANT, MGLN, OSIP, NAT, NS, PEGA, QSII, RVBD
The month of April was the real first sign of bullishness in quite some time. This was the first month of the S&P making a new monthly high this year and only the 6th positive month since the market’s high in October of 2007. Any up moves from here on out will have quite a bit of support and resistance from the yearly, weekly and daily perspectives so don’t forget to pull out when you are drawing your trendlines in…
This week’s internals show the indecision and sideways action that we talked about in last week’s forecast. This is due in part to being at a key inflection point where bears are looking to short and bulls are looking to break and move higher. As we continue to sit in the middle of the up channel, watch for the S&P, Dow, NASDAQ, or Russell to break to the upside or downside.
Potential market movers in the week to come are…· Mon: Pending Home Sales 10:00 AM ET· Tues: Redbook 8:55 AM ET· Weds: ADP Employment Report 8:15 AM ET· Thurs: Jobless Claims 8:30 AM ET· Thurs: Productivity and Costs 8:30 AM ET· Fri: Employment Situation 8:30 AM ET Ben Bernanke Speaks at 10:00 AM ET on Tuesday. The bank “Stress Tests” results have been moved up to Thursday, May 9. The stress tests are a government exercise to help regulators get…
Stay tuned for future updates and the return of weekly chart analysis and soon to come…video watchlists! Until then, here’s the idea’s for this week. There were very few stocks with showing our entry signal so here are a few to keep on your radar and awaiting a good entry point. AAN, ARST, CPN, CPSI, CYOU, HANS, MVSN, ORLY, PTRV, QSII, TECHWeek 18 RecapProfitable:QSII broke out and setting up for yet another entryCPSI broke out nicely Still Waiting:ARST still waiting…
After a break of the 2002 swing lows, the month of March put in a fairly bullish candle, closing well into the prior monthly candle’s range. This recent breakdown below the 2002 swing low puts us at a 12 year low, which we will probably not fully recover from for quite some time. The long term buy and hold days are over for now, it’s a trader’s market, so be glad you are one!
A slew of earnings announcements came out this week however many at which were less weak than estimates predicted. The NASDAQ internals showed a mixed reading on Thursday where advancing stocks to decliners was negative 624, yet stocks rose 1.3 to 1. The strength in the market is being lead by the NASDAQ, followed by the S&P and then the Dow. The NASDAQ tends to usually lead the market, therefore with many of the big names already reporting earnings; a…