Here’s What I Look For In An Intermediate-Term Trigger
I’m always looking for early
entries into stocks that qualify as being both technically and fundamentally
sound. This is especially the case when
the overall environment is what I consider to be rather difficult for an
outright breakout play. With the current divergence between the tech and
growth-heavy Nasdaq (from which I usually find the majority of my intermediate-term, or IT,
selections), and that of the broader S&P500 confirming this type of market set
up, I find that quite often the early bird does indeed catch the worm.
09:51:10
Intraday Setup Alert
Scientific Games (SGMS),
from the
Intermediate-Term Report has gapped higher within its weekly base near a
daily pivot high. With the issue up .43 at 17.34, triggers for continuation
longs might be considered thru the
Opening Reversal consolidation highs of 17.39, with pivot highs established
on the daily at 17.48.
No games being played here yet, as the stock
continued to trigger thru weekly pattern highs, but I don’t mind finding a
well-qualified entry at lower levels when given the opportunity. Of course there
were no guarantees that SGMS would trigger on the larger time frame, but then
again the only guarantees I know of have nothing to do with high-probability
trading.
Chris Tyler