SPY Tests Key Support 12-14-15 | Stocks to Trade

SPY Tests Key Support 12-14-15 Most of the questions we received for last weeks trading education were focused on trade management.

It’s interesting how many traders understand what to look at, but struggle to earn consistent money. How are you handling this dilemma? Are you downloading more useless trading e-books or trading less shares and getting honest feedback?

Obviously the second choice, is the correct choice. To learn to trade, you need to trade. Place real trades and stop back-testing or optimizing. Keep your share size down until you are profitable.

If you have questions post them here. We’d love to help…

Stock Market Today: Map of the S&P 500

(click the map for a full view)

SPY Tests Key Support 12-14-15

Day Trading Game Plan: The SPY ETF Outlook

The $SPY broke the 50 sma support and is hovering near the $202 support from November. Over 200 million shares traded Friday in the SPY, Today is an important day for bullish traders. The SPY is setting up for a lower open, push lower, and then rally.

If we don’t get the rally this could be an ugly week.

(click the chart for a full view)

SPY Tests Key Support 12-14-15

Pete’s Notes:

  • Everyone is talking about oil, the bottom must be near.
  • FOMC this week.
  • Many stocks broke the 50sma support on Friday. Today will be a big day to see if the bulls can recapture this level.

MBLY Mobileye N.V.

MBLY is in a solid downtrend, with two key moving averages int he correct order. Friday’s price action traded lower into support on above average volume. The sell-short is below $40 with $35 as the target.

(click the chart for a full view)

SPY Tests Key Support 12-14-15

SPY Tests Key Support 12-14-15

SPY Tests Key Support 12-14-15 | Stocks to Trade

Relative strength yesterday compared to the SPY negative change from the open: ANF, GPRO, SCTY, WFM

> 20sma | positive week | closed 2% higher from the open: SCTY, WFM

<20sma, negative last 5 days and closed 2% lower from the open: wmb, rrc, cog, oke, paa, apa, mbly, tso, tdc, vlo, wynn, dvn, epd, wpz, ftnt, pru, ua, akam, hon, ma, dis, slb

Bullish Ideas ATR/Volume/Price: ADBE, QUNR, TEVA, HD, DLTR,

Bearish Ideas ATR/Volume/Price: wmb, rrc, oke, paa, bhi, apa, sm, gme, mbly, dvn, pru, ua, oxy, hon, apc, gs, cmi, aapl, cof, dis, jwn, slb, xom, ibm, utx,

Weak Stock Weak Close: wmb, rrc, oke, paa, bhi, apa, clr, mbly, bx, mpc, dvn, epd, ctl, twtr, nbl, ms, ftnt, pru, ua, bk, akam, hon, ctsh, emr, hal adm, dis, slb

Strong Stock Weak Close: CRUS

Weak Stock Strong Close:

Strong Stock Strong Close: ANF, MAT, AEM

20 day Breakdown: oke, gme, met, hon, ctsh, apc, emr, ups, v, cop, axp

20 Day Breakout: CNP, DSW, MAT, VTR, WFM

2x Normal Volume: KMI, WFM, ETP, UTX, BHI, ADBE, BXLT, GME, AR, OKE, BUD

Watch List Longs: HD, MCD, BRCM, INTC, KLAC, ADBE

Watch List Short: bhi, ms, pru, met, bk, hon, met, cof, adm, dis, jpm, slb, cop, wfc, axp, all, cvs, lvs, akam, c, qcom, m

Inside days: twtr, uts, jnpr, coh, brcm, nue, do, sbh, lrcx, amba, csiq, wtw, grub, klac

 

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