Misled
Intraday Update and
Example
Futures traders and QQQ traders, did
you catch that early morning reversal in the Nasdaq? I’ll take a look at this
morning action in the futures market in Trading the Techs PM at 2:00PM ET.
Today’s Tech Watchlist:Â
(
AZA |
Quote |
Chart |
News |
PowerRating).
(
INTC |
Quote |
Chart |
News |
PowerRating),
(
ARTG |
Quote |
Chart |
News |
PowerRating),
(
OAKT |
Quote |
Chart |
News |
PowerRating)
Alza
(
AZA |
Quote |
Chart |
News |
PowerRating) set a new closing and
intraday high on Monday. It has been consolidating for several days on
descending volume. Unfortunately the move to a new high was not on strong
volume, but overall market volume continues to remain weak. Watch for a
continuation move, ideally on strong volume. Set your alerts above Monday’s
intraday high.Â
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) traced out a flag pattern last week. On
Tuesday we see a return to the top of the flagpole, which traders should
watch for a potential entry point.Set you alerts just over 140 1/4 as we watch
for a move over the high of the flagpole. Should it break out, watch for
resistance again near 145 3/8.
Art Technology Group was added to the Watchlist on Friday when
it completed the right side of its cup. That same day we saw a new closing high.
On Tuesday we see the continuation move that we were looking for. Because the
breakout day was a high-volume day, we’ll watch for the continuation day to have
the same feature.
Oak Technology
(
OAKT |
Quote |
Chart |
News |
PowerRating) also put in a new closing high on
Monday. That new high was a Stage I Breakout. Set your alerts just over 25 1/2
as we monitor for a continuation move to provide us with potential short-term
entry points.
Until later,Â
Remember to use stops on
every trade.
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