Stock Market Closes Strong Following Oil Prices Higher

Plenty of frustrated stock traders right now.

New traders especially, are asking if this is a tough market. The true answer is, trading is challenging. Deal with it.

Have a trading plan and follow it to the letter. If you are waiting for perfect trends, that are easy to make money, you will be in for a long ride.

Be prepared, have discipline and think long-term.

Trading Podcast Downloads

Pete’s  Day Trading Notes:

  • Oil is the play.
  • Financials heavy selling and a vicious comeback.
  • A lot of indecision about the next move, book profits.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

Stock Market Closes Strong Following Oil Prices Higher

–> Top 25 Proprietary Trading Secrets

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Stock Market Closes Strong Following Oil Prices Higher

Asia stocks mostly trade higher but Nikkei falls 0.9%

Most Asian markets closed up on Thursday, following a mostly higher finish on Wall Street overnight amid an oil price surge.

“The global equity market has become a hostage of oil movement. The correlation is immensely in tandem,” Naeem Aslam, an analyst at AVA Trade, said in a note Thursday. “The strong rally over in the U.S. has also helped Asian markets to secure some gains.”

Australia’s ASX 200 gained 103.64 points, or 2.13 percent, to 4,980.40, with the energy sector retracing losses from Wednesday’s session to tack on 6.21 percent, while the material sector was up 6.23 percent on the back of higher commodity prices.

Read more on cnbc.com

Day Trading Game Plan: The SPY ETF Outlook

$SPY bears can’t penetrate the $187 level. Day traders need a solid intra day reference point to determine a change of trend.

(click the chart for a full view)

Stock Market Closes Strong Following Oil Prices Higher

Technical Analysis | Charts of Interest

Healthy retreat in GOOGL after earnings. Although it is below the 20 ema and the 50 sma on the daily chart, it’s time to look for a bid…if it’s above the open price. Do not chase a stock still moving lower.

(click the chart for a full view)

Stock Market Closes Strong Following Oil Prices Higher

Stocks to Trade 2-4-16

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: DUK, SAVE, JWN, MMM, KORS, CBS, NUE, MAT, OXY, EOG, PXD, XOM, AEM, CMCSA, RRC, GPOR, KMI, CNQ

Negative last 20 and 5 trading days | closed 2% lower from the open: mplx, mpc, vlo, low, tsla, yhoo, hfc, amzn, arrs, baba, syf, gm, expe, cbg, cyh, thc, tel, ea, tso, wba, dhi, met, atvi

Quarterly Order Flow: 

Bullish Stocks to Trade: KORS, MMM, CAM, LULU, NEE, JNJ, CCI, FL, DG, FB, MCD, ROST, DLTR

Bearish Stocks to Trade: mplx, nov, mpc, vlo, low, tsla, hfc, amzn, ilmn, nxpi, baba, esrx, tel, ea, mck, tso, cost, teva, nflx, aer, pru, c, antm, cof, tif, lnc, pnc, len, mar, gs, utx, axp, hog, stt, cf, mon, wdc, celg, akam, qcom

20 Day Breakdown: mplx, nov, mpc, vlo, low, tsla, hfc, amzn, baba, tel, ma, tso, aer, lly, c, lnc, pnc, crm

20 Day Breakout: AEM, AEP, BAX, CMCSA, EIX, ETN, KORS, MAT, MMM

2x Normal Volume: C, NOV, GILD, LOW, MPC, VLO, KORS, YUM, HES, EA, RCL, TSLA, PSX, ADSK, GOOGL, TIF, MMM, TSO

Inside days: qcom, rcl, ccl, adt, akam, urbn, vmw

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bob Reply

Pete–start looking at your gold stocks -now—–GLD–NG–GG–RGLD–FNV–And others –,my humble opinion

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