AAPL Hits Resistance | IBM Short-Sale 11-20-15

A crucial lesson to learn as a day trader, is the correct mindset for how you get paid…

You need, from day one, to abandon the paycheck mentality. You did not choose to become a stock trader to be busy. You trade to make money, each month, not by the hour.

Remember this the next time you want to make a trade because you are bored. Those mindless trades are the reason most traders never get paid.

Trust me, I’ve been there.

IBM Short-Sale | Bear Flag

AAPL Hits Resistance | IBM Short-Sale 11-20-15

Stock Market Today: Map of the S&P 500

(click the map for a full view)

AAPL Hits Resistance | IBM Short-Sale 11-20-15

Day Trading Game Plan: The SPY ETF Outlook

SPY cannot muster two days in a row without a catalyst. Frustrating environment for for ES traders.

(click the chart for a full view)

AAPL Hits Resistance | IBM Short-Sale 11-20-15

Pete’s Notes:

  • Another SPY daily candlestick doji on light volume. Expect another higher open.
  • Healthcare taking a hit.
  • Defense stocks breaking out.

Charts in Focus

AAPL Apple Inc.

AAPL @ $120 a significant reference point since July. Solid resistance again yesterday. A pause for a few days, then the next level is $125.

(click the chart for a full view)

AAPL Hits Resistance | IBM Short-Sale 11-20-15

AAPL Hits Resistance | IBM Short-Sale 11-20-15

AAPL Hits Resistance | IBM Short-Sale 11-20-15

Relative weakness yesterday compared to the SPY positive change from the open: NO STOCKS HERE-SPY CLOSED FLAT

> 20sma | positive week | closed 2% higher from the open: AMBA, CTRP, DLPH, LNG, NSC

<20sma, negative last 5 days and closed 2% lower from the open: qunr, thc, cyh, antm, atw, rax, cf, wdc, cvs, adm

Bullish Ideas ATR/Volume/Price: CTRP, NSC, CRM, ADSK, VLO, COST, EL, HON, BA, ADBE, DIS, HD, MPC, LLY, GOOGL, PNC, PSX, NFLX, AMZN, LRCX, FB,

Bearish Ideas ATR/Volume/Price: qunr, thc, cyh, antm, hca, aet, cf, wdc, apc, cvs, mdvn, wba, etp, bhi, esrx, celg, nxpi, m, tjx, dg, stx, unp, jwn, akam, kss, cmi, vfc, mar, de, fl, wynn, qcom, feye, tgt, fit, dks, scty, lulu, skx,

Weak Stock Weak Close: qunr, thc, cyh, antm, hca, cf, wdc, jah, cvs, mdvn, kmi, adm, wba

Strong Stock Weak Close: VRTX, RSPP, MDT

Weak Stock Strong Close: bby, ftnt, lulu, mnk, rost, scty, skx, vrx

Strong Stock Strong Close: CTRP, NSC, INTC, DLPH

20 day Breakdown: aet, antm, jah, mdr, ntap, paa, pfe, qunr,

20 Day Breakout: CSX, CTRP, FCS, NSC, WE

2x Normal Volume: PFE, SYF, VRX, BBY, GMCR, UNH, CTRP, AET, CRM, AGN, A, NSC, FL, DKS, EXPE

Watch List Longs: KO, VLO, COST, HON, MCD, USB, WFC, DIS, JPM, TRV, HD, EBAY, LUV, DOW, ADBE, C, LLTC, INTC,

Watch List Short: aet, cvs, adm, bby, bhi, tjx, m, qcom, akam, ntap, wynn

Inside days: ge, fb, qcom, gm, xom, emc, tgt, low, unp, jnj, fl, pypl, ctxs, rrc, mgm, mar, cnq, cag, bhi, adi, teva, csiq, pcar, vmw, cah, biib, gnc, lvlt, yelp,

 

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