Tuesday’s Top Stocks From TradingMarkets
A shooting star is formed on the
daily chart of Nasdaq-100 Index Tracking Stock (QQQ). Look at the
location of the star. QQQ gapped up above the upper Bollinger Band at the open
and closed near the day’s low. Needless to say, this is a bearish signal. As you
know the market has a tendency to revert to the mean. I am sure many traders are
expecting QQQ to test the 20-day MA.
DIA (Diamonds Trust) also finished poorly. It closed right at the upper
boundary of a gap zone. Obviously, traders are looking to sell DIA if it trades
below this gap.
Let’s look at three stocks for Tuesday:
JetBlue Airways (JBLU): The stock is forming a bear flag below the
declining 20-day MA. We are looking for a resumption of the downtrend.
Northern Trust Corp (NTRS): Just like JetBlue
Airways, the issue is shaping a bear flag below the 20-day MA. Look for a
breakdown.
AtheroGenics (AGIX): The stock has formed a bullish wide range bar, and
it looks ready to rally out of a pullback from the September 28 high.
Good night and see you tomorrow.
If you have questions, feel free to mail them to me.
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