Jobs Report Today 10-2-15 | Stocks to Trade

The jobs report today could be the catalyst that provides clarity. But I doubt it.

The general market is in a funk since the China meltdown in August. Traders will need more than a jobs report to get price action in the SPY out of this $188-200 trading range.

If you are frustrated with your stock selection stick with scanning sectors for now until the picture clears up.

Jobs Report Today 10-2-15

*Plenty of free trader training here if you are looking for a new edge.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

Jobs Report Today 10-2-15

Day Trading Game Plan: The SPY ETF Outlook

The SPY is a tough read from day-to-day. Two intra day trends in different directions is not difficult to trade. The factor making this challenging, is the long-term SPY bias is not clear. This means day trading one side and ignoring entry signals in the opposite direction can’t be done. The “other direction” doesn’t exist right now.

Simple trading is pick a direction and trade it. The SPY direction is not showing us that critical factor. Smart trading is to remain sector/industry and stock specific for now. If the general market happens to be in sync with your trading idea, you are in good shape… but don’t sit around waiting for it to happen.

Let’s see if today’s job number changes that scenario.

(click the chart for a full view)

Jobs Report Today 10-2-15

Jobs Report Today 10-2-15 | Stocks to Trade

Pete’s Notes:

  • Casino stocks and ags still in play.
  • Financials nothing to do.

Charts in Focus Inc. CRM

Interesting price action and volume in CRM to make note of. This trade is one to put in your tracking journal or set an alert. No trade here yet but over $75 would get my attention. Great trading is planning for today’s game plan but also staying in tune with potential set ups.

(click the chart for a full view)

Jobs Report Today 10-2-15

Jobs Report Today 10-2-15

Jobs Report Today 10-2-15 | Stocks to Trade

Earnings in play today > 1M avg shares:

Relative weakness to yesterday’s bullish market:

> 20sma, positive week and closed 2% higher from the open: CYBR, FIT, TSO, PAA, MPC, VLO, CRM, NFLX

<20sma, negative last 5 days and closed 2% lower from the open: bhi, hp, adi, tsla, wynn, rrc, cam, stx, gpro, lvs, slb, hal,

Bullish Ideas ATR/Volume/Price: TAP, NKE, TSO, ADBE, HFC, LB, SBUX, MCD>99

Bearish Ideas ATR/Volume/Price: amba, gpro, hznp, wynn, mnk, xpo, lulu, vrx, qrvo, ete, cf, lvs, rrc, hp, lng, wpz, stx, myl, wmb, cat, etp, mon, apc, slb, baba, abbv, uri, de, hal, apa, etn, mjn, lrcx, zts, bhi, lbtya, ir, mrk, gmcr, amgn, endp, bidu, cah, cvs, stt, cof, hot, mdt, axp

Weak Stock Weak Close: gpro, wynn, mos, rax, lvs, mur, hp, trn, yelp, slb, fti, kss, twtr, hal, emr, bhi

Strong Stock Weak Close: P, RAI

Weak Stock Strong Close: hznp, xpo, ete, wpz, dyn, wmb, etp, bkd, teva, endp, agn, hlt, ppg, mdt

Strong Stock Strong Close: JBLU, TSO, SRPT, PAYX, ADBE, EW, HFC, LB, EXPE, ALK,

20 day Breakdown: gps, mat, fti, fast, adsk, abc, symc

20 Day Breakout: HRB, PAYX, PMCS

2x Normal Volume: OLN, XPO, MUR, VRX, BKD, HRB, ADSK, CRM, EPD, GPS, HLT, ETE,

Watch List Longs: SBUX, TGT, ADBE

Watch List Short: slb, kss, hal, abt, bhi, mrk, amgn, adm, cvs, axp, wynn, lvs, m, nue, ntap<29, tol, vz, dd

Inside days: vrx, mnk, nlsn, wdc, mjn, txt, cl, zion, cf, mdvn, unh, ir, aal, tol, tap, lng, tol, lng, pcp

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