SPY Targets 2015 Highs | Stocks to Trade 11-30-15

The stock market today is in an interesting spot, kind of do or die at these levels…

Is there enough reason to penetrate and hold new all-time highs? I say no. The charts are telling me we trade in a tight range the remainder of 2015.

  • This means we need to be stock and industry specific to find the best trades.
  • This means you need to be on top of sector rotation.

If you’re day trading, you can clearly see the market and the internals have no bias. The $TICK readings are pointing to lack of institutional activity.

Is this bad news for traders? No. It is what it is.

If you try and force trades, you will pay. Be prepared and you will be fine. Prepared means creating a list according to your edge, and stick to it.

This isn’t the tape to be sloppy.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

SPY Targets 2015 Highs

Day Trading Game Plan: The SPY ETF Outlook

The SPY produced 5 out of 6 doji type indecision candlesticks. The holiday may have played a factor but I am in day trading mode here. I need to see follow through before I have conviction in the general market.

(click the chart for a full view)

 

SPY Targets 2015 Highs

Pete’s Notes:

  • Need to treat today as a multiple day consolidation on light volume.
  • This should be the week the SPY makes a run at the 2015 resistance @ $212-213. I don’t see a reason for new highs to hold if price action gets there.

Charts in Focus

BIDU Baidu, Inc. 

Clean bull flag at resistance and an inside week. Minor resistance at $210, with the next target of $214.22. We can day trade or swing trade into those new levels.

(click the chart for a full view)

 

SPY Targets 2015 Highs

SPY Targets 2015 Highs

SPY Targets 2015 Highs | Stocks to Trade 11-30-15

Relative weakness yesterday compared to the SPY positive change from the open:

> 20sma | positive week | closed 2% higher from the open: JD, NXPI, SCTY, QUNR, ILMN, ENDP, LABU

<20sma, negative last 5 days and closed 2% lower from the open: wll, rrc, mbly, mur, gme, ar, wpz, sm

Bullish Ideas ATR/Volume/Price: NFLX, HD, BIDU, MCD, CTRP, NKE, LOW, TEVA, AMZN, AGN, VLO, HON, ROST, AMGN, SRPT, PSX, GOOGL, ADSK, NSC, ADBE, TSO

Bearish Ideas ATR/Volume/Price: m, rrc, cvs, tgt, apc, wynn, unp, fit, jwn, celg, mbly, gme, dks, cf, wdc, car, akam, antm, cmi, race

Weak Stock Weak Close: ar, gme, rrc, urbn, wpz

Strong Stock Weak Close:

Weak Stock Strong Close:

Strong Stock Strong Close: BIDU

20 day Breakdown:

20 Day Breakout:

2x Normal Volume:

Watch List Longs: GE, KO, HD, MCD, VLO, BK, HON, AMGN, COST, TRV, MSFT, EBAY, LOW, BRCM, DD, ADBE,

Watch List Short: bby, cvs, axp, tgt, aet, adm, akam, ntap, ual, wynn, lvs, qcom, m

Inside days: pfe, msft, intc, vrx, twtr, qcom, bp, bby, dow, dal, jblu, gmcr, adm, low, fit, urbn, abt, clr, bmy, atvi, nbl, lly, azn, rost, srpt, bbby, ftnt, adi, stx, amba, all, wdc, mnk, wtw, mar, nsc, vmw

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