Charts to Watch
Apache (APA): The rally has continued to the 200 day SMA which would be expected first resistance. Now watch for a pullback and how it acts to see if the bottom is in of if the stock has more work to do. The MACD might be hinting to more work. Arch Coal (ACI): Consolidating well and holding the recent gains well. More action like this and it looks like there will be a strong base for a move toward the 200 day SMA. Apple (AAPL): Continues to consolidate but without much downside action. Watch above $514 with volume. Devon Energy (DVN):…
Daily Wrap
The markets started today with another gap down and twice tried to rally and failed. he first rally started roughly around noon and continued until the Fed minutes were announced which then sent the S&P tumbling quickly to new lows for the day but that dip was bought and in a volatile hour was not only higher but positive on the day. As soon as the gains were had they were lost and the final hour of trading again sent shares lower closing above but near the lows of the day. In economic date we had existing home sales come…
Charts to Watch
Let’s start tonight with the McClellan Oscillator and a look at the reading from yesterday’s close. We see that a -100 reading is very uncommon but can lead to snap back rallies. What has to be seen is whether that extreme level leads to a more sustained bottom or like we saw in June will there be multiple extreme readings before a more sustained bottom occurs. Arch Coal (ACI): After a strong rally this stock has held initial support on the pullback. I will be watching to see if the stock can continue to consolidate on low volume to set-up…
Daily Wrap
DJIA -70.73 (-0.47%) to 15,010.74;S&P 500 -9.77 (-0.59%) to 1,646.06;NASDAQ -13.69 (-0.38%) to 3,589.09 The S&P 500 started today with a gap lower but quickly rallied to not only retake the early losses but move into positive territory for the day. Then around 10:30 am EST the market started to roll and spent the remainder of the day under pressure and ultimately ended up closing below the 50 day SMA. No economic data to report and this is a light econ data week, at least for the US. Apple (AAPL) was able to buck the broad market’s downward trend and close slightly higher…
Charts to Watch
What ended up being a tough week for the market left many names I was following pulling back m0re than I would have desired but still intact. While I believe it is always prudent to be looking at stocks from the short side, the longer term trend is still higher. I think that it is VERY likely that we see the markets continue to consolidate and even lose ground but I think people tend to lose tract of their long ideas during these times and this is when you want to be watching them as if they hold in during…
Daily Wrap
DJIA -5.83 (-0.04%) to 15,419.68;S&P 500 -1.95 (-0.12%) to 1,689.47;NASDAQ +9.84 (+0.27%) to 3,669.95 Not too much action overall in the indices today. A gap down open in the S&P 500 was quickly bought and rallied back toward Friday’s close only to fall back after reaching flat on the day. The S&P fell until roughly 2pm est where it bottom and staged a late day rally which was unable to reach the highs of the day. The Russell 2000 and Nasdaq managed to gain ground with the Nasdaq was helped by Apple (AAPL) which gained 2.77% on optimism for a new iPhone model to…
Analyst Comments
Today’s recap of upgrades, downgrades, initiations and price target charges (or relevant stock notes & price target reiterations) I found. If you have any I missed or want to share any in the future then please email me! You can view these each day as I find them in the Upgrades/Downgrades section.
Charts to Watch
Apple (AAPL) found initial resistance at the 200 day SMA which is to be expected on the first touch after so long but I would be watching the consolidation on this one for another trade opportunity. Also watch the MACD to see if it can recycle. Arch Coal (ACI) pushed nicely into the 50 day SMA today. This will be key to watch if it can get and stay above. A move on strong volume might be further evidence that a short term bottom is in and could end up being a much longer term bottom. I would use the…
Daily Wrap
DJIA -46.23 (-0.30%) to 15,612.13;S&P 500 -2.53 (-0.15%) to 1,707.14;NASDAQ +3.36 (+0.09%) to 3,692.95 The Dow and S&P 500 closed slightly lower while the Nasdaq saw a small gain mainly do to a good day in trading for Apple (AAPL). This will likely be a much quieter week with not as many big names earnings reports or economic events but we did have PMI which came in better than analysts expected with a reading of 56. Tomorrow on the calendar we have Trade Balance at 8:30 am EST and then FOMC member Evans is speaking at 1 pm EST (fireworks not expected). As…
Daily Wrap
DJIA +65.36 (+0.44%) to 15,112.19;S&P 500 +8.68 (+0.54%) to 1,628.93;NASDAQ +31.24 (+0.92%) to 2,959.50 Monday’s action start hot with a gap higher and a rally in the markets which lasted until roughly noon when we started to dip lower and then the decline started gaining some steam into late day trading. The highs of the day in the S&P 500 correlated with a first touch of the 50 day SMA which would be expected to be resistance. Today’s high now should become a key level to watch and if taken out the bulls may be back in control. Merger Monday was in affect…