Stock Picks Recap for 4/29/11
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, NUVA triggered long (with market support) and worked:
TDSC triggered short (with market support) and worked:
In the Messenger, Rich's DECK triggered short (without market support) and worked:
His GT triggered short (without market support) and didn't work:
AMZN triggered long (with market support) and worked enough for an easy partial:
In total, that's 3 trades triggering with market support, all 3 of them worked.
Tradesight Market Preview for 4/28/11
The SP broke to new high ground on the day adding 10 handles to the move. Price settled above the prior high which now puts the 8/8 level in play up to 1375. The bar count remains favorable at only 9 days up in the exhaustion countdown.
Naz added 24 on the day settling at a very important level. The close was right at the confluence of the 100% fib extension, the Seeker risk level (magenta) and the +1/8 Gann level. This is a rare instance where the Gann, Fibonacci and DeMark practitioners all have a meaningful level to trade.
The late cycle BTK index has assumed leadership of the multi sector daily chart:
The put/call ratio has yet to register a climatic reading on this move:
The 10-day Trin still has plenty of gas in the tank before recording an over bought reading <0.85.
The BTK exploded higher getting very close to the 8/8 target area at 1500.
The XAU has a strong day but is still bearishly lagging the underlying gold futures.
The BKX finally showed signs of life. Note the DTL that has been added to the chart.
The Dow Transports broke out to a new high on the move:
The Dow theorists were pleased to see both the INDU and TRAN both register new 52 week highs but note that the Dow 30 Industrials are close to the +2/8 over bought level.
The SOX continues to bearishly lag the Naz. Even with the Naz recording new 52 week highs, the SOX was barely able to close green on the day. This divergence will be a rally killer if it persists.
The OSX was the last laggard on the day. If the weakness persists in the OSX and the broad market holds firm traders should focus on the late cycle transportation names.
Oil is trading right at the 100% fib extension and also the 8/8 Gann level.
Gold broke out to new highs and is now 8 days up and in overbought territory in the Gann box.
Forex Calls Recap for 4/27/11
One winner on the GBPUSD ahead of the Fed (half size). See below. Meanwhile, here's the US Dollar Index intraday with market directional:
New calls and Chat tonight.
GBPUSD:
Triggered long at A, hit first target at B, raised stop in morning and stopped at C, all ahead of the Fed:
Stock Picks Recap for 4/27/11
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
Lots of triggers that worked great today while triggering without market support.
From the report, CELG triggered long (without market support due to opening five minutes) and worked great:
URBN triggered long (without market support) and worked great:
TSLA gapped through the trigger and couldn't be entered.
STEC triggered long (without market support) and didn't work:
Rich's AMZN triggered long (without market support due to opening five minutes) and worked huge:
His DANG triggered short (with market support) and worked:
His JOYG triggered short (with market support) and worked:
Rich's FSLR triggered long (without market support) and worked nice:
BIDU triggered short (with market support) and worked nice:
Rich's FNSR triggered long (with market support) and worked nice also:
In total, that's 4 trades triggering with market support, all 4 of them worked.
Tradesight Market Preview for 4/26/11
The SP posted a very narrow range measuring day with very little change on the day. Volume was down ahead of the 2 day FOMC meeting.
The price action in the Naz was very similar to the SP. Price closed very near the 8/8 Gann level with little net change on the day. Note that narrow range days build up energy for a range expansion move when a catalyst is introduced.
The 10-day Trin is actually closer to oversold than overbought at 1.17.
The weekly cumulative A/D line is technically sound after recording a new high close on the move. This is exactly what intermarket analysts would expect to see before the broad market breaks out to the upside.
Multi sector daily chart:
The SOX posted a narrow range day but was the top Naz sector. A close over the April highs opens the door to the static trend line at 460.
The BKX traded inline with the broad market so nothing new technically.
The BTK lost 5 handles on the day, still below the +2/8 level that would frame shift the daily.
The OSX lost 1% on the day and was much weaker than the market. The 10 and 50dmas have converged just below the recent lows which make for key support.
The XAU was the last laggard losing 2.5% on the day. The XAUs refusal to produce a new high bodes poorly for gold futures holding above 1500. For gold futures to continue higher the XAU needs to make a new high.
Oil retested the 100% fib extension but has yet to exceed it. This is a very key area of resistance and also new beak point.
Gold posted a range high distribution day, settling below the open.
Stock Picks Recap for 4/20/11
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
With the gap, several of the stocks off of the report gapped over their triggers, so no plays on those.
VMED triggered long (with market support) and worked:
MYL triggered long (without market support due to opening five minutes) and worked:
In the Messenger, SNDK triggered long (with market support) and didn't work:
EBAY triggered short (with market support) and worked enough for a partial:
Rich's DECK triggered long (with market support) and worked:
Rich's VMW triggered long (with market support) and worked enough:
In total, that's 5 trades triggering with market support, 4 of them worked, 1 did not.
Forex Calls Recap for 4/20/11
US Dollar got weaker again during the session. Here's the index with our market directional tool, negative all the way through:
Two nice winners in the GBPUSD (one from this session and one carryover from the last session). See below.
New calls and chat tonight for the last trading day of the week.
GBPUSD:
Triggered long at A, hit first target for 50 pips at B, stopped second half at C. We still had the second half of the prior day's trade on with a stop overnight at 1.6300, which didn't stop, and then raised it in the morning and stopped at D for over 100 pips:
The summary of the other pairs is available to subscribers and trial members only.
Tradesight Market Preview for 4/20/11
The SP gained 7 on the day where the pattern recorded the 8th day down. Note the confluence of interest at the 1312.50 area where the 10 and 50dmas lie and where the 8/8 Gann level is set. Wow, is this an important resistance level or pivot point in the market. There is one other key feature worth talking about in the current Seeker setup. The SPs are now 8 days down but the 8 candle is not lower than both the 6 and 7 labeled candles in the count so unless the 9 is recorded below both 6 and 7, more testing of the 1300 level is likely.
Naz was higher by 21 on the day and was slightly stronger than the SP because price closed above the 10eam. Note that the Seeker has recorded an upside price flip.
Multi sector daily chart:
The SOX continues to bearishly lag the NDX100:
The spread between the gold futures and gold continues to bearishly widen:
The XAU was the best performing major index on the day. The 50dma so far had been a critical pivot. The next target is the 76% fib.
The OSX settled right between two key MAs and has possibly recorded a higher low. Note that the Seeker exhaustion signal is still active.
The SOX continues to lag, but has held the active static trend line. The Intel earnings Tuesday night should set the tone for Wednesday’s action.
The BKX continues to struggle, the next support is the 200dma.
The BTK biotech index is tired but holding above the 10ema.
Oil:
Gold swept but closed below the 8/8 level at 1500:
Stock Picks Recap for 4/19/11
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, QLIK triggered long (with market support) and worked great:
MRVL triggered short by a penny (with market support) and did not work:
OCLR triggered short (with market support) and did not work:
In the Messenger, Rich's POT over the opening 5-minute bar high triggered (with market support) and worked:
AMZN triggered long (with market support) and worked enough for an easy partial:
AMGN triggered short (with market support) and didn't work:
Rich's SLW triggered short (with market support) and didn't work:
Rich's CAT triggered long (with market support) and worked:
In total, that's 8 trades triggering with market support, 4 of them worked, 4 did not. Some of the winners were huge.