Stock Futures Gap Higher Are You a Buyer?

Stock Futures Gap Higher

OK. So we awake to another higher open (7am). Stock futures gap higher. Gap open part 10.

Ten gaps in 14 days for the SPY. Not sure if that’s a record but it’s amazing.  There are stock market scenarios for both swing trading and day trading where you can really sink your teeth into trades with conviction. This is not that market. You have plenty of opportunity as a day trader right now but I can’t see a good reason to build a position.

Continue to grind it out. Be stock specific and preserve capital if you don’t see any good trades.

The stock market will always provide opportunity. Be patient.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

Stock Futures Gap Higher

Day Trading Game Plan: The SPY ETF Chart

The SPY is set to open at the 20 period exponential moving average on the daily chart. Which is another gap higher. We are also working on a second inside week in a row. Fitting price action into next week’s FOMC announcement.

(click the chart for a full view)

Stock Futures Gap Higher

Stock Futures Gap Higher

Stocks to Trade | Wednesday September 9, 2015

Pete’s Notes:

  • Oil and gas stocks not selling lower as expected. Delayed reaction or accumulation?
  • Multiple gaps higher make no sense from a technical analysis outlook. Not getting aggressive. I will trade long intra day if that is the price action but the stock market is confusing a lot of people right now.

Charts in Focus

Post Holdings Inc. POST

Post holdings continues to flirt with new 52 weeks highs. Trading the breakout has produced topping tails and frustration. Let’s see if today’s gap higher in the market finally helps the stock close above the $67 level.

(click the chart for a full view)

Stock Futures Gap Higher

Stock Futures Gap Higher

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Earnings in play today > 1M avg shares:  BKS, BOX, HOV, PANW, PPHM

Stocks that showed relative WEAKNESS– contra to the SPY positive change from the open on 9/8/15: baba, nflx, bidu, bxlt, rrc, qihu, amba, ctrp, dlph, terp, skx, fnv, yy

Above the 20sma and closed 2% higher from the open: (not necessarily all longs, but stocks to note for the price action of strong close from the open and above the 20sma) DOW, PSX, NXPI, KHC, ADI, CRM, SWKS, AVGO, LEN, OKE, WDC, ANTM, LRCX, TEL, QRVO, FSLR

Bullish Ideas ATR/Volume/Price: CAM, AVGO, LB, TJX, MDCO, HRTX, INCY, POST, MSI, FIS, STZ, ALK, VMC, FL, TWC, RCL

Bearish Ideas ATR/Volume/Price: gpro, amba<72, wynn, qihu, baba, vtr, lng, de, bidu, mjn, kss, trerp, dvn, adsk, dltr, twx, hp, amt, slb, pg, cvx, duk, apa, mon, clr, apc, hal, nbl, cat, xom, nsc

Weak Stock Weak Close: amba, baba, bidu, grub, qihu, terp, yhoo

Strong Stock Weak Close:

Weak Stock Strong Close: orcl, fit, bx, mpc, amtd, feye, aer, endp, pbi, lm, ncr, har, espr

Strong Stock Strong Close: JBLU, CVC, MSI, HRTX, CDW,

20 day Breakdown: gpro

20 Day Breakout: CVC, HOV, LB, MCHP, TE

2x Normal Volume: TE, BEE, BABA, BP, JOY, JD, MMC, NUE, MCHP, FCX, DOW, WMT

Watch List Longs: BBY, TJX, TWC, BRCM, ALTR,

Watch List Short: kss, ms, mrk, wfc, slb, cvx, ko, adm, hal, xom,

Inside days: cien, cnq, dd, xel, pcp, vtr, yelp, wmb, stx, do, paa, scty

Stock Futures Gap Higher Are You a Buyer? | September 9

MARKET SNAPSHOT: U.S. Stocks: Dow Futures Up Nearly 200 Points As Asia Soars

Investors await Apple event

U.S. stock futures pointed to a higher open Wednesday, with Dow futures rising by triple digits after Asian markets soared in the wake of reassuring comments from officials in Beijing and Tokyo.

S&P 500 futures rose 20.55 points, or 1.1%, to 1,986.25, while Dow Jones Industrial Average futures gained 183 points, or 1.1%, to 16,635. Nasdaq 100 futures tacked on 55 points, or 1.3%, to 4,353.50.

Investors are also waiting for the latest device rollout from Apple Inc. (AAPL), the largest company by market capitalization, as well as for a fresh reading on U.S. job openings.

Japan’s Nikkei closed up 7.7%, its biggest percentage gain in more than seven years (http://www.marketwatch.com/ story/asia-stocks-rally-on-possibility-of-more-beijing-stimulus-2015-09-09), after Prime Minister Shinzo Abe pledged to make tax cuts. Meanwhile, the Shanghai Composite jumped 2.3% after China’sMinistry of Finance said it would speed up tax reforms (http://www.marketwatch.com/story/china-to-roll-out-more-forceful-fiscal-policy-2015-09-09), increase infrastructure spending and accelerate public-private partnerships to aid economic growth. European equities traded higher early Wednesday following the upbeat Asian action.

A “kind of panic” experienced in the last few weeks has “very much evaporated”, and this week looks “very robust for the equity markets,” said Naeem Aslam, chief market analyst at AvaTrade, in emailed comments on Wednesday.

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