SPY Bulls Get FED Boost 11-19-15 | Stocks to Trade

SPY Bulls Get FED Boost 11-19-15Day traders are in day trading mode…

I know that sounds obvious but it’s not. Conviction trades have long-term bias. We are lucky to see 2 days in a row for the SPY. This means we are trading the most recent price action. The more price history you have behind your day trading idea, the more conviction you should have.

This is because real money commitments are behind the trend. This waterfalls down into your trade management. The less price history behind your idea, exit into momentum. The more (and with room to go) look to hold or add.

Pay attention to the depth of your bias. Some days are cash flow, some are positions to accumulate. Great traders know the difference.

Stock Market Today: Map of the S&P 500

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SPY Bulls Get FED Boost 11-19-15

Day Trading Game Plan: The SPY ETF Outlook

SPY gets a boost by the FED minutes. Far from overbought, I am expecting another trend day higher.

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SPY Bulls Get FED Boost 11-19-15

Pete’s Notes:

  • Market breadth was healthy and volume solid. The bulls need to prove they can support the market without the FED.
  • Capitulation in GMCR near long-term support.
  • Impressive gap higher and trend day in AAPL. $120 is the next resistance.
  • VRTX is overbought, but one to keep in the tracking journal for a new buy.

Charts in Focus

DIS The Walt Disney Company

DIS nice breakout with a solid profit target.

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SPY Bulls Get FED Boost 11-19-15

SPY Bulls Get FED Boost 11-19-15

SPY Bulls Get FED Boost 11-19-15 | Stocks to Trade

Relative weakness yesterday compared to the SPY positive change from the open: ctxs, qcom, bofi, tgt, paa, race, rrc, gnc, jd, qunr

> 20sma, positive week and closed 2% higher from the open: NFLX, C, MYL, DOW, CMCSA, WTW, BMY, BHI, VIAB, BIDU, PBF, EMR, MPC, TRIP, MON, YELP, CAM , STT, PPT, VRTX, RSPP

<20sma, negative last 5 days and closed 2% lower from the open: ctxs, qcom, bofi, tgt, paa, race, gnc, qunr

Bullish Ideas ATR/Volume/Price: WTW, NSC, AGN, BIDU, VRTX, AMZN, NFLX, LLY, CAM, CTRP, MPC, FB, CAH, PNC, GOOGL, DIS, HON, TMO, PSX, COST, AMT, ADBE, VLO, LRCX, HD, TSO,

Bearish Ideas ATR/Volume/Price: qcom, tgt, vmw, mar, wynn, fit, mnk, tjx, dks, akam, gmcr, de, hcn, lvs, cmi, stx, cvs, ibm, cern, jwn, m, kss, fl, wdc, vrx, lulu, feye, scty

Weak Stock Weak Close: paa, qcom, tgt

Strong Stock Weak Close:

Weak Stock Strong Close: skx, scty, aem, feye, nxpi, celg, lulu, urbn, pcar, wdc, fl, coh, amba

Strong Stock Strong Close: WTW, PBF, AGN, RSPP, BIDU, RDC, CAG, VRTX, WY, IDTI, GM, JBL, AMZN, NFLX, GT, DOW, LLY, C CAM, MPC, A, NVDA

20 day Breakdown: qcom, tgt, gpro, ctxs, adm, tmus, ntap, peg, ally

20 Day Breakout: A, AZN, ILMN, NSC, PBF, SFM, WTW, WY

2x Normal Volume: QCOM, GE, FCS, SYF, TGT, ILMN, NSC, CTXS, ADM, URBN, DKS, A, GMCR, GNC, AZN, FL

Watch List Longs: GE, WFC, JPM, USB, SBUX, JNJ, DIS, HD, VLO, HON, COST, TRV, MSFT, C, DOW, DD, ADBE

Watch List Short: adm, bby, cvs, axp, tjx, tgt, kss, m, qcom, akam, emc, ntap, wynn, lvs

Inside days: ge, pfe, csco, ms, scty, gps, abbv, tjx, cbs, mos, rost, ua, dg, pot, de, lng, ea, ctrp, ip, mnk, hrb, lyb, stx, ctsh, gis, cf, car, lrcx, uri cvc

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