AWESOME DAY! I hope you were in the marker today, it was a powerful move that will likely lead us higher. We saw some nice volume the last hour and some great action in the banks as well as the homebuilders today. We have not seen that kind of action the homebuilders in a long time, this tells me they are still hangin around and will likely try and lead some more. We need more leadership and seeing an old leader have a powerful day will likely help us out. The banks too saw some continuation, I would not chase now but maybe on the next bull flag you can jump in. Overall, the market looks like it wants higher. We are seeing commitment to the move now with some potency.
Apple finally gave us a trade today and it still is a trade. The outside reversal. The trade here would be to set the stop at the low of the day and ride the move. There may not be a move in Apple or there could be a short squeeze rally (like Nov. 16th). I expect the later. You do have to risk a lot with Apple but that is just the way Apple trades. Good luck. I like reversals. ALOT.
Google is really strong and continues to be so. It has almost taken out half the massive red bar it had on the early earnings release (OOPS!), this tells me it is stronger and power move down does not have near as much power. I would continue to look to buy on pullbacks. Do not chase this price though.
Amazon is likely going to go higher. I like the bull flag action and it looks as if it is just about ready to move again. This has been one of the strongest names in the market and therefore it will likely continue to lead us higher. Watch the 255 area. Nice bullish engulfing today though.
Some other names --
$GE -- said it looked good over the weekend it continues to perform. I think we see higher prices in GE. Nice volume today with a break of trendline with room above.
$DUK - Holding higher and will likely continue. Not a leader, but a trade possibly. Target could be around the 66 area.
$LF -- I highlighted this one over the weekend and said it could be a short term reversal, that turns out to be true. Trim and trail this one, do NOT chase this one at all.
$DE -- Deere is holding higher and I think we see move up very soon in $DE, I will likely be in this one.
$H -- The hotels are acting well as a lager play. $HOT and a few others made there moves today so now we are looking for $H to play catch up.
$MA -- a low risk trade in IMO. I think we see it go higher. I like the action. You must be careful though, the higher it goes the less it has left in it.
That is it for now. Thanks for reading. Below are some more charts as I do not have a separate page for Charts any more. Enjoy! (Click to enlarge images)
Also, if you would like to ask me any questions or provide comments please visit the Contact page for instructions.
Apple finally gave us a trade today and it still is a trade. The outside reversal. The trade here would be to set the stop at the low of the day and ride the move. There may not be a move in Apple or there could be a short squeeze rally (like Nov. 16th). I expect the later. You do have to risk a lot with Apple but that is just the way Apple trades. Good luck. I like reversals. ALOT.
Google is really strong and continues to be so. It has almost taken out half the massive red bar it had on the early earnings release (OOPS!), this tells me it is stronger and power move down does not have near as much power. I would continue to look to buy on pullbacks. Do not chase this price though.
Amazon is likely going to go higher. I like the bull flag action and it looks as if it is just about ready to move again. This has been one of the strongest names in the market and therefore it will likely continue to lead us higher. Watch the 255 area. Nice bullish engulfing today though.
Some other names --
$GE -- said it looked good over the weekend it continues to perform. I think we see higher prices in GE. Nice volume today with a break of trendline with room above.
$DUK - Holding higher and will likely continue. Not a leader, but a trade possibly. Target could be around the 66 area.
$LF -- I highlighted this one over the weekend and said it could be a short term reversal, that turns out to be true. Trim and trail this one, do NOT chase this one at all.
$DE -- Deere is holding higher and I think we see move up very soon in $DE, I will likely be in this one.
$H -- The hotels are acting well as a lager play. $HOT and a few others made there moves today so now we are looking for $H to play catch up.
$MA -- a low risk trade in IMO. I think we see it go higher. I like the action. You must be careful though, the higher it goes the less it has left in it.
That is it for now. Thanks for reading. Below are some more charts as I do not have a separate page for Charts any more. Enjoy! (Click to enlarge images)
Also, if you would like to ask me any questions or provide comments please visit the Contact page for instructions.
