Nasdaq hits record high and oil continues to move lower…
It’s not hard to find something to do. The only factor not providing juice to these trades is the average daily range is contracting again. Spread traders were in heaven for a week, with the $VIX back down to $12 they are back to grinding it out.
Gaps are great, but day traders need trend days to make money.
NFLX was a beast again yesterday. It’s clearly the new ‘it” stock to trade. it has volume so you can manage risk and volatility so you can make money.
July 17 Stock Market Today: Map of the S&P 500
(click the map for a full view)
SPY price action pushed into the $212 resistance we have designated as the line in the sand for bears. If price action history holds, it will be the spot sellers come back today. One thing to note on this chart is “Why $212?” It’s clearly not the high. The reason is you need to look deeper into the chart and see which price is the true number the market can’t stay above. In this case it’s the 2121 area.
We get above, come back, get above come back. That’s the right number.
(click the chart for a full view)
Stocks to Trade | Friday July 17, 2015
- Spy has struggled to stay above the 212 area. Today will be a neutral to down day.
Interesting Chart Lessons:
Knocked five times finally pushed through.
(click the chart for a full view)
Earnings in play today > 1M avg shares: ERIC, FHN, GE, HON, KSU, PGR, STI
Bullish Ideas ATR/Volume/Price: TSO, NFLX, CELG, MBLY, ALXN, VLO, MPC, HCA, FB, WBA, AMZN, RCL, NKE, AGN, TWC, M, ACN, PNC
Bearish Ideas ATR/Volume/Price: clr, gmcr, fslr, pxd, apa, hes, isis, uri, bidu, scty, slb, baba, unp, mon, utx
Weak Stock Weak Close: apa, epd, hal, jci, kors, mat, mur, pxd
Strong Stock Weak Close: CVC, MCD, UA, LEN
Weak Stock Strong Close: isis, ctl
Strong Stock Strong Close: TSO, NFLX, CELG, HZNP, VLO, HFC, WBA, AMZN, RAI, M, SCHW, C, AMTD
20 day Breakdown: abx, dlph, gm, jci, x
20 Day Breakout: BAC, C, EBAY, HIG, MO, NFLX, PM, SCHW, WBA
2x Normal Volume: EBAY, NFLX, UA, INTC, GM, C, TSM, HOLX, DLPH
Watch List Longs: VLO, DIS, CVS, TJX>70, TWC, BMY, TGT, USB, COF, MET, JPM, WFC, PNC, EBAY, INTU, ADBE, C,
Watch List Short: hal, cop, swn, bhi, slb, cvx, xom, nem, txn, emc<25, ntap, lltc, hpq
Inside days: fb, twtr, emc, fit, celg, gild, slb, cvx, hlt, lly, stx, axp, ntap, yum, abt, lvs, gpro, sina, bidu, kss, symc, amba, qihu, mon, hum, adsk, anf, vtrp, wynn
Nasdaq Hits Record High
Nasdaq closes at record as Street cheers earnings
U.S. stocks closed near highs on Thursday, with the Nasdaq at a record, as investors focused on earnings beats amid progress towards near-term resolution in the Greek debt crisis. ( Tweet This )
“Earnings are continuing to play a bigger role,” said Omar Aguilar, chief investment officer of equities at Charles Schwab Investment Management. “Financials (had) pretty positive results. At the same time it also reflects that people think the economy continues to move in the right direction, maybe not at the pace we thought we could grow but (still growing).”
The Nasdaq Composite rallied more than 1 percent to set a new closing record of 5,163.18. Earlier in intraday trade, the Nasdaq 100 hit its highest level since the tech bubble in March 2000, with Netflix surging 18 percent and eBay, Stericycle and Micron jumping more than 3 percent. The S&P 500 also came within 10 points of its record close.
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