Stock Futures Positive Rush Needs Rest 3-21-16

The stock market is positive for the year… For now.

Don’t start a party and make sure your stop-loss is in place before you go on vacation.

I am not a bear but a trader. A trader who relies on what “normally happens.” The rally we experienced is not normal. The size of the move is, how fast and without any meaningful retracements is not.

Where does the stock market go from here? A respected trader told me he thinks we take out the 2015 highs, to get the last of the late buyers into the market, and then we get a hard sell.

This sounds right to me. Trail your profits and thank the market Gods for your 6 week gift.

If you need some help leave a comment below…

Pete

Trading Podcast Downloads

Pete’s  Day Trading Notes:

  • Quite a few stocks in solid 6 week up trends but near resistance.
  • Financials trade opposite expected movement after the FOMC.
  • This will be a stock pickers week. DO extra scanning to find good ideas.

S&P 500 Futures Inch Higher After Equities Recover 2016 Losses

U.S. stock-index futures inched higher as investors assessed a rally that turned equities positive for the year.

Standard & Poor’s 500 Index contracts expiring in June added 0.3 percent to 2,043 at 9:44 a.m. in London, reversing a drop of as much as 0.3 percent. A slower pace of rate increases signaled by the Federal Reserve helped the benchmark climb for a fifth week, its longest winning streak since November. Dow Jones Industrial Average futures gained 44 points to 17,538.

“Investors are catching their breath after such big gains,’’ said Heinz-Gerd Sonnenschein, a strategist at Deutsche Postbank AG in Bonn, Germany. “Stocks will probably move sideways in the next few days as the market gets more news from economic figures — from job markets, from companies — because the data we have been getting so far hasn’t been that great.’’

Continue reading on bloomberg.com

Stock Market Today: Map of the S&P 500

(click the map for a full view)

spy map 21

Stock Futures Positive Rush Needs Rest 3-21-16

Oil prices extend losses after U.S. rig count rises for first time in 13 weeks

Crude oil prices fell on Monday, extending a decline seen late last week after the first rise in the number of active U.S. oil-drilling rigs in 13 weeks.

West Texas Intermediate crude futures for April delivery CLJ6, -0.68%  fell 50 cents, or 1.3%, to $38.94 a barrel. The contract, which expires at Monday’s settlement, closed down 1.9% on Friday at $39.44 a barrel, after pushing above $41 during that session.

May crude CLK6, -0.36%  dropped 35 cents, or 0.9%, to $40.78 a barrel. Oil still managed a fifth weekly rise last week.

Chart Reading the SPY ETF

$SPY profit potential on new longs is lower. Need to be stock specific this week for trades with great risk-reward.

(click the chart for a full view)

spy 21

Technical Analysis | Charts of Interest

$WYNN on finviz.com

3 Reasons Royal Carribean Stock Could Rise

Royal Caribbean Cruises (NYSE:RCL) shareholders have weathered a tough storm already in 2016 as the stock has dropped around 25% since the start of the year. There are a few reasons that could be to blame, from a recent earnings miss to the Zika virus. Looking to the future, however, there are at least three reasons its stock could rise.

1. Growth in China
“China” was mentioned 63 times by management and analysts in the company’s most recent earnings call, far more than any other region. China’s population, around four times that of the United States, is not the only reason it could be such a lucrative market — it also has a middle class that is expanding rapidly, as well as a long coast with many embarkation port possibilities.

Royal Caribbean is responding by sending more ships to China, setting up more booking agent offices, establishing hospitality schools in China, offering cruise dates year-round instead of just during the peak season, and embarking from more ports in the country

Continue reading fool.com

$RCL short-term breakout and close above the 50 sma is a good sign for a potential change of trend.

(click the chart for a full view)

RCL

Stocks to Trade 3-21-16

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: WYNN, STX, RCL, AAL, SFM, GS, WRVO, TIF, DAL, STT, CTRP, SWKS, URBN, UAL, NXPI, BA, HCA, LUV

Negative last 20 and 5 trading days | closed 2% lower from the open: endp, rax, vrx

Quarterly Order Flow:

Bullish Stocks to Trade: WYNN, HOT, ADBE, TSLA, BABA, UAL, BIDU, MAR, AET, UNH, VLO, HES, ADSK, CLR, LOW, CB, LB, NBL, PSX, HON, MMM, OXY, AVGO, LVS>55, CVS, HD, UTX, NEE, CHTR, DG, AEM, VTR, KMB, LULU, YUM, SLCA

Bearish Stocks to Trade: vrx, endp, teva, cah, fh, celg, bmy, mnk, lly, lnkd, incy,

2x Normal Volume: WDC, HOT, STX, SHPG, ADBE, MNK, BMY, MAR, RH, FDX, MMM, MCD, NEE, WRK, IBM, KMB, DE, ACN, LYB, AGN

Inside days: csco, ko, xom, nem, lly, mdt, pm, gis, bby, jnpr, trv, yum, kim, ea, coh, aet, k, cah

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