China Circuit Breakers Trigger Stock Market Halt 1-7-16

I am sure you have the desire to be a professional trader, but some fights should be avoided until you have the day trading chops to handle it.

Today’s stock market will be a challenging opening. If you are a new trader, if you are a trader without a definite plan, I would let the open price action give you definite reference points, (@10am) and then look for your first trade. Be smart, think long-term and learn from this mornings price action.

For the pros, this should be a good open to be quick and active.

Let’s get this party started…

Stock Market Today: Map of the S&P 500

(click the map for a full view)

China Circuit Breakers Trigger Stock Market Halt 1-7-16

Day Trading Game Plan: The SPY ETF Outlook

SPY price gaps lower, again. This is a very tough gap to short-sell. The global news is a mess but this type of price action , and indecision, should be reserved for those who have a definite plan and can make fast decisions. If you are a rookie, step aside and let the opening price action settle in.

(click the chart for a full view)

China Circuit Breakers Trigger Stock Market Halt 1-7-16

Pete’s Notes:

  • China continues to weigh on global markets. Halted.
  • Tough to short-sell this gap lower this morning.

Technical Analysis | Charts of Interest

KSS Kohls Corp.

Buying Opportunity

KSS is showing solid relative strength and now a breakout with room to go. Profit target of $51.75.

(click the chart for a full view)

China Circuit Breakers Trigger Stock Market Halt 1-7-16

 

China Circuit Breakers Trigger Stock Market Halt 1-7-16

> 20sma | positive the last 5 days | closed 2% higher from the open: DLTR, KSS, TWX

< 20sma | negative last 5 days | closed 2% lower from the open: sm, wmb, apa, mur, ar, apc, do, cf, clr, rlyp, dvn, cyh, nfx, kmx, rax, nov, mos, hes, gpor, fti, lrcx, nbl, fit, hp, swks, hfc, thc, car, ksu, met, stx, unp, adi, hog, bbby, mnk, nsc, dks, grub

Bullish Ideas ATR/Volume/Price: SCTY, FSLR, BXLT, NEE, DLTR

Bearish Ideas ATR/Volume/Price: wmb, apa, apc, cf, clr, dvn, nfx, kmx, pxd, hes, fit, swks, thc, bhi,  lyb, oxy, cop, unp, eog, cvx, mpc, psx, lng, hot, nsc, pru, mar, jwn, nxpi, gs, wdc, mmm, aapl, ea, pnc, cat, cf, hca, dis, ual, mbly

Weak Stock Weak Close: wmb, apa, mur, apc, cf, clr, dvn, cyh, nfx, kmx, rax, nov, mos, hes, gpor, fti, lrcx, nbl, fit, jbl, swks, hfc, thc, feye, ksu, csx, met, su, unp, cbg, adi, hog, bbby, gps, gm, nsc, dks, grub

Strong Stock Weak Close: FSLR, BXLT

Weak Stock Strong Close: amba, ebay, gild, prgo

Strong Stock Strong Close: DLTR, RAI, WM

20 day Breakdown: xop, wll, fit, met, wba, apc, axp, swks, hes, kmx, cyh, eog, gs, hog, fti, sm, cf, lrcx, hfc, bbby

20 Day Breakout: ABX, EVHC, RAI, XEL

2x Normal Volume: WSH, ATVI, TWX, PXD, FIT, MET, BXLT, MBLY, WBA, SWKS, HES, KMX, CYH, SM

Watch List Longs: MO, MCD, WMT, KSS, PM, MGM

Watch List Short: bhi, met, cop, pru, hal, axp, slb, bk, ms, adm, wfc, usb, cof, dis, lltc, len, akam, jnpr, tol, ntap, c, ebay

Inside days: mbly, dal, syf, jblu, tmus, dd, teva, ual, pm, kim, pld, vtr, hcn, nee

China Shares Collapse 7%, Trading Halted

 China’s market shutdown: What the experts say

Even the pros can’t agree on whether Chinese authorities have lost control of markets or are pursuing a cunning strategy.

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