These 5 Stocks Remain On The Radar
What Monday’s Action Tells
You
The bonus day with the magical 35 minutes of glory
on Friday turned into a sandwich day yesterday, as the SPX
(
$SPX.X |
Quote |
Chart |
News |
PowerRating) traded
in a narrow 5.2 point range, closing at 1139.80, -0.3%. The intraday high was
1144.46 vs. the .618 retracement to 1155.38, which is 1142.77. For the past
24 trading days, the SPX has closed in a 3.0% range close-to-close having met
resistance trading into this key retracement zone which also has other
confluence. The Dow
(
$INDU |
Quote |
Chart |
News |
PowerRating), which closed at 10,579, -0.1%, has traded
in just a 2.8% range close-to-close from 10,709 to 10,410. Net net, daytraders
are doing okay and momentum traders are a bit frustrated at the lack of any
follow through.
NYSE volume dropped to 1.28 billion, the volume
ratio neutral at 52, and breadth slightly positive at +389, which is all indicative
of an opposite day following the price advance on Friday. You see this also
in the
(
QQQ |
Quote |
Chart |
News |
PowerRating) and
(
SMH |
Quote |
Chart |
News |
PowerRating) volume yesterday, which was the lowest since
12/31 and 01/02. The
(
SPY |
Quote |
Chart |
News |
PowerRating) volume of only 24.9 million was the lightest
since 01/06, and the
(
DIA |
Quote |
Chart |
News |
PowerRating) volume of 3.8 million was the least volume since
12/26.
| size=2> |
Tuesday
2/3 |
Wednesday
2/4 |
Thursday
2/5 |
Friday
2/6 |
Monday
2/9 |
| color=#0000ff>Index | |||||
| color=#0000ff>SPX | |||||
| color=#0000ff>High |
1137.44
|
1136.03
|
1131.17
|
1142.79
|
1144.46
|
| color=#0000ff>Low |
1131.33
|
1124.74
|
1124.44
|
1128.39
|
1139.21
|
| color=#0000ff>Close |
1136.03
|
1126.53
|
1128.59
|
1142.76
|
1139.80
|
| color=#0000ff>% |
+.07
|
-0.8
|
+0.2
|
+1.3
|
-0.3
|
| color=#0000ff>Range |
6.1
|
11.3
|
6.7
|
14.4
|
5.2
|
| color=#0000ff>% Range |
77
|
16
|
62
|
100
|
11
|
| color=#0000ff>INDU |
10505
|
10471
|
10496
|
10593
|
10579
|
| color=#0000ff>% |
+.06
|
-0.3
|
+0.2
|
+0.9
|
-0.1
|
| color=#0000ff>Nasdaq |
2066
|
2014
|
2020
|
2064
|
2061
|
| color=#0000ff>% |
+0.1
|
-2.5
|
+0.3
|
+2.2
|
-0.2
|
| color=#0000ff>QQQ |
36.95
|
36.34
|
36.46
|
37.13
|
37.12
|
| color=#0000ff>% |
-.05
|
-1.6
|
+0.4
|
+1.8
|
-.03
|
| color=#0000ff>NYSE |
|
|
|
|
|
| color=#0000ff>T. VOL |
1.48
|
1.62
|
1.57
|
1.46
|
1.28
|
| color=#0000ff>U. VOL |
644
|
422
|
915
|
1.25
|
661
|
| color=#0000ff>D. VOL |
824
|
1.18
|
650
|
194
|
610
|
| color=#0000ff>VR |
56
|
26
|
58
|
86
|
52
|
| color=#0000ff>4 MA |
52
|
48
|
49
|
56
|
56
|
| color=#0000ff>5 RSI |
50
|
35
|
40
|
63
|
58
|
| color=#0000ff>ADV |
1691
|
895
|
1744
|
2663
|
1846
|
| color=#0000ff>DEC |
1603
|
2362
|
1536
|
671
|
1457
|
| color=#0000ff>A-D |
+88
|
-1467
|
+208
|
+1992
|
+389
|
| color=#0000ff>4 MA |
-91
|
-236
|
-223
|
+205
|
+280
|
| color=#0000ff>SECTORS |
|
|
|
|
|
| color=#0000ff>SMH |
+0.9
|
-2.7
|
+0.4
|
+4.3
|
-0.9
|
| color=#0000ff>BKX |
-0.2
|
-0.5
|
-0.3
|
+1.6
|
-0.4
|
| color=#0000ff>XBD |
+0.1
|
-1.9
|
-0.4
|
+2.4
|
+0.3
|
| color=#0000ff>RTH |
-0.1
|
+0.6
|
+1.2
|
+1.4
|
-0.3
|
| color=#0000ff>CYC |
-0.7
|
-1.1
|
+0.6
|
+2.2
|
+.01
|
| color=#0000ff>PPH |
+0.8
|
+0.8
|
+0.1
|
+0.6
|
-0.8
|
| color=#0000ff>OIH |
-0.6
|
-0.4
|
-1.7
|
+0.9
|
+2.3
|
| color=#0000ff>BBH |
+0.4
|
-1.6
|
-0.4
|
+1.0
|
-0.2
|
| color=#0000ff>TLT |
+0.5
|
-0.3
|
-0.4
|
+1.1
|
+0.3
|
| color=#0000ff>XAU |
-0.1
|
-1.5
|
+1.4
|
+4.8
|
+1.0
|
^next^
For Active Traders
The only sector that had a rush yesterday was energy,
and we were ready for that. The
(
OIH |
Quote |
Chart |
News |
PowerRating) had a +2.3% day, while
(
NBR |
Quote |
Chart |
News |
PowerRating),
(
DO |
Quote |
Chart |
News |
PowerRating) and
(
RIG |
Quote |
Chart |
News |
PowerRating) all advanced. Also from yesterday’s focus list,
(
MWD |
Quote |
Chart |
News |
PowerRating)
was a good pullback setup and
(
GS |
Quote |
Chart |
News |
PowerRating) also, above 101.15, trading to 102.47.
Price accelerated above the previous day’s high of 101.52. It faded with the
market in the afternoon, closing at 101.87.
(
IR |
Quote |
Chart |
News |
PowerRating) was an excellent Trap Door
on the retracement to the 240 EMA on a 65.50 intraday low, then took off on
the 10:00 a.m. ET bar, trading up to 66.76, closing at 66.46.
While futures traders had a long lunch,
diversified traders of stocks were able to salvage the day.
(
MSFT |
Quote |
Chart |
News |
PowerRating) hit
a
26.85 low right on the 40-week EMA, with 26.83 being the 1.272 extension of
the
last mini-leg up from 27.26 – 28.83. And that is also the .50 retracement to
the
11/17 24.84 low. It only ran to 27.04, then closed at 26.90, but the
position
was kept in spite of the poor action and no cushion.
Today’s
Action
Semis like
(
MXIM |
Quote |
Chart |
News |
PowerRating),
(
LLTC |
Quote |
Chart |
News |
PowerRating),
(
TER |
Quote |
Chart |
News |
PowerRating),
(
NSM |
Quote |
Chart |
News |
PowerRating) and
(
INTC |
Quote |
Chart |
News |
PowerRating) had narrow-range opposite days yesterday, so they
remain on today’s radar. Also, keep scrolling the energy stocks.
The QQQs above the 20-day EMA at 37.21 and
Friday’s 37.28 close get going, and any pullback to the 36.50 – 36.70 level
could catch some reflex buyers.
The SMH, which closed at 42.09 yesterday, hit
a
42.85 intraday high vs. the .50 retracement to 45.78 which is 43.09 and the
.618
retracement at 43.72. Price also held the 41.77 midpoint of Friday’s
wide-range
bar +4.3% move with a 42.07 low yesterday. The 50-day EMA is 42.12 and the
20-day EMA 42.37, so there is lots going on between the 41.77 midpoint and
the
EMAs.
FYI: Just as you prepare your trading
plan,
I suggest you get a handle on your tax and cash flow situation because if
that
Jane Fonda in pants gets elected, you will need many more winners than you
have
now to even stay close to your current net, not to mention the 15% capital
gains
tax, which will be history.
Have a good trading day,
Kevin Haggerty
P.S. You can finally
learn what traders have been asking me to teach them for years—