Jan 20, 2015: 4:36 PM CST
Which stocks topped our algorithmic list of strongest (and weakest) intraday trending stocks today?
Let’s take a look – plus we have a bonus after-market gap (surge) for two of these stocks.
Here’s our top intraday up-trenders:
Jumping straight to the point, our top trenders of the day include Netflix (NFLX) and Cree (CREE), both of which made the cut BEFORE their bullish earnings pop (even higher).
As I type the update, Netflix surged to the $390 per share area (after opening near $340) and CREE gapped straight up to the $34.00 per share level (coming off $31.00) thanks to a positive response to earnings.
Not to be outshone (which they are at the moment), Illumina (ILMN) and Jarden (JAH) join today’s top four. Continue Reading…
Jan 20, 2015: 4:08 PM CST
As 2015 continues, we’re seeing persistent trends develop across key markets.
Let’s take a look at one obvious trend, one stealthy trend, and two common trends we should be watching.
All traders are likely aware of the “commodity crash” or collapse in Crude Oil prices.
The collapse was widely reported and frequently traded – whether calling the failed bottom/reversal or else simply trading with the trend and profiting from it.
Given the strength in the US Stock Market and generally positive economic news for the United States, a “stealth trend” has emerged which has surprised many participants.
Bonds continue to generate money flow and relative strength as the related ETFs (such as TLT and IEF) quietly stride to all-time highs.
Be sure to read last week’s “Are You Seeing the Stealth Move in Bond Funds?“ The stealth rally continues. Continue Reading…
Jan 16, 2015: 3:22 PM CST
After yesterday’s Swiss Franc surprise (see the “Aftermath Update” post from this morning), the US S&P not only stabilized but is showing signs of a bullish short-term reversal.
We’ll start our update and stock scan with our S&P 500 level chart:
Mainly, we’re focusing our attention right now on the 2,010 level for a possible breakout and bullish surge through “Open Air” toward 2,020 or 2,027.
For now, focus your attention on the 2,005 to 2,010 neutral zone with the bull/bear levels in play.
Note the lengthy positive momentum and TICK (internal) divergence, suggesting a possible rally.
Jan 16, 2015: 1:36 PM CST
I wanted to highlight the ‘damage’ or intense price movement on select FOREX pairs because – probably – we’ll never see another overnight move like this in our lifetimes.
The Swiss National Bank shocked the markets with a “Black Swan” announcement that they will no longer intervene to stabilize their currency against the Euro.
For a great, succinct background piece, be sure to read “Here’s what the Swiss Central Bank did and why it’s such a shocker” via BusinessWeek.
And now, we view the damage – for educational and reference purposes – on the charts.
We’ll start with the weekly perspective of the Swiss Franc against the Euro (the focus):
To defend the 1.20000 level, the Swiss National Bank essentially printed francs (currency) and purchased Euros.
Notice the level of intervention at the cap level where the bank acted to thwart natural supply/demand forces which were persistently pushing the value of the Euro lower against the Swiss Franc (and thus strengthening the Franc).
The process worked, manipulating value against the Euro until yesterday’s announcement that the policy would be terminated.
Within moments, all hell broke loose, to use a colloquial term. Continue Reading…
Jan 15, 2015: 4:03 PM CST
It’s time once again to plan our intraday and swing trades off the key inflection (pivot) level 2,000 in the S&P 500.
“Will it hold or will it break?”
What happens next on the movement away from 2,000 will define our bullish or bearish strategies.
Here’s a pure price chart to highlight this level and how price has behaved in the past:
Through the latter part of 2,000, we were playing the “Hold or Break” game with 2,000 with our trades.
We’re doing the same thing now as price clearly interacts with this level for the sixth time as shown above.
Earlier in January, buyers saved the market from another decline from this level but this time they collectively may not be strong enough to halt the selling pressure – and stop-losses triggering – on a clean break under 2,000.
Before that – in December – sellers won but were thwarted by positive reaction to the Federal Reserve announcement which catapulted the index to a new yet extremely weak high.
And now we return twice to this level. Continue Reading…