Stock Futures Set To Rally on The Open | August 27

Impressive stock market rally into the close yesterday. Today is setting up for a trend day higher.

We are not expecting the gap and sideways price action that unfolded the last few mornings.

Today should be a day to be aggressive after the morning price actions completes. However, do not lose you discipline. If the market turns down, stick to your pre planned stop loss are adjust your expectations for a re entry if the long is still valid.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

Stock Futures Set To Rally

Day Trading Game Plan: The SPY ETF Chart

A higher open in the SPY today should be a buying opportunity. If we are above the open price @10am, we are looking at a day to expect follow through.

(click the chart for a full view)

Stock Futures Set To Rally

Stocks to Trade | Thursday August 27, 2015

Pete’s Notes:

  • Today setting up a nice day. I would be surprised if we sell after the open.
  • Expecting a trend day higher (but prepared if we don’t).

Charts in Focus

CDW Corporation CDW

CDW showing nice relative strength and nearing new 52 week highs. The buy trigger is above $40.

(click the chart for a full view)

Stock Futures Set To Rally

Earnings in play today > 1M avg shares:

Bullish Ideas ATR/Volume/Price: CAM, POST, W, FIS, RCL, SRPT, STZ, TJX,

Bearish Ideas ATR/Volume/Price: viab, twtr, terp, yelp, tasr, gmcr, gpro, juno, qihu, wynn, svty, dvn, rrc, cvx, clr, sndk, twx, hal, kss, cop, lvs, all, mpc, bhi, cbs, vtr, bidu, tsla, slb, apa, baba, m, oke, pxd, hes, mjn, unp, met, pg, de, nsc, dow, xom, nfx, lng, gs, apc, etn, qcom, hp, wmt, lrcx, ir, etp, eog, ibm, utx, te, uri, cat, mon, oxy, car

Weak Stock Weak Close: qihu, aem, slb, wynn, gpro, scty, joy, viab, do

Strong Stock Weak Close: CAM

Weak Stock Strong Close: rax, mon, adi, terp, sndk, avgo, swks, lltc, ar, isis, intc, xom, hpq, ntap, qcom, mar, amtd, dvn, tasr

Strong Stock Strong Close: NFLX, GOOG, GOOGL, AMZN

20 day Breakdown: grub, rig, gdx, slb, wynn, bkd, swft, bp, pxd, apa

20 Day Breakout: BBY

2x Normal Volume: cam, slb, emc, xom, yhoo, ms, cog, txn, cop, exc, csx, wfm, mon, unp, bp, nov, wy, fti, all, ben, scty, terp, rax, pru, adsk, hp

Watch List Longs: TJX, BBY, SBUX, HD, TWC,

Watch List Short: slb, all, ko, swn, adm, abt, wmt, hal, axp, cop, bhi, kss, cvx, ms, nem, wynn, lvs, nue, amat, dd, m, glw, klac, orcl dow, hpq, intc, lltc, emc, sndk

Inside days: aapl, msft, csco, t, fb, pfe, jpm, vz, c, wfc, ms, qcom, hpq, hal, cop, txn, cvx, md, csx, abbv, jnj, wmt, dis, dow, v, met, dd, hd, cvs, bidu, cat, cbs, tgt, oxy, unh, utx, wba, teva, celg, twx, axp, ibm, sndk, mos, gs, m, cce, pru, hion, de, coh, aet, psx, adbe, gps, rost, pnc, ua, cof, cag, stt, nue, mjn, nsc, ed, hog, hum

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Stock Futures Set To Rally on The Open | August 27

Stock-market rally still leaves S&P 500 $1.4 trillion in the red

Turnaround Tuesday came a day late for U.S. stocks.

After a rally in Tuesday’s session fell apart in demoralizing fashion for bottom seekers, Wednesday’s late surge, propelling the S&P 500 SPX, +3.90% and the Dow industrials SPX, +3.90% to their biggest one-day percentage gains in nearly four years, changed the tune.

In point terms, it was the third-biggest rise ever for both the Dow and the S&P 500, but was just the 154th largest for the S&P and the 136th largest for the Dow in percentage terms, noted Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

While the rebound put $643 billion back on the S&P 500’s market cap, it is still off $1.4 trillion over the past seven sessions, Silverblatt said.

Meanwhile, MarketWatch’s Tomi Kilgore notes that the market’s surge produced the most overbought reading in the NYSE Arms Index—a volume-weighted breadth measure—since Dec. 31, 2012. That’s not necessarily as bearish as it sounds, he notes.

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