Stock Market Futures up 300 Points Overnight | September 8

OK. So we awake to another gap.

I would not want to be a swing trader right now. Can honestly say I am glad to be a day trader in this tape. With the U.S. stock market futures up 300 points overnight we face a tough open. The SPY is trading 80% of its 14 day average true range with the gap.

Do you get long after the open or do you follow classic technical analysis and short-sell a gap higher in selling order flow? $199 and the 20ema on the daily chart is the next resistance level. It was the smart move to go home flat last Friday but could you honestly say it was because you expected a gap higher like this? No way. You went home flat because of the uncertainty.

Glad I am day trading.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

Stock market Futures up 300 Points Overnight

Stock market Futures up 300 Points Overnight

Day Trading Game Plan: The SPY ETF Chart

The SPY gap higher makes it difficult to get long a higher push off the open. Wait for a pull back to get long.

(click the chart for a full view)

Stock Market Futures up 300 Points Overnight

Stock Market Futures up 300 Points Overnight

Stocks to Trade | Tuesday September 8, 2015

Pete’s Notes:

  • I thought ETF’s reduced gaps?
  • Day trading mode again. Change from the open will be the play

Charts in Focus

Keuring Green Mountan Inc. GMCR

GMCR still in a well established down trend. There is some hope for the bulls. Two bullish weeks after capitulation. One to keep in your tracking journal. Make note to see if bullish volume continues and if the stock price makes a higher low on a test of the August 24 lows.

(click the chart for a full view)

Stock Market Futures up 300 Points Overnight

Stock Market Futures up 300 Points Overnight

Earnings in play today > 1M avg shares: TIVO

Stocks that showed relative STRENGTH– contra to the SPY Negative change from the open on 9/4/15: NBL, VIAB, MYL, CLR, AMBA, CVC, EA, LB, NFX, OKE, GMCR, OII, YELP, SM, XON, CRZO, CPGX, VRTX, FTK, ISIS, HRTX, KITE, JUNO

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) VIAB, CVC, LB, NFX, OKE, GMCR, OII, SM, CRZO, FTX, ISIS, HRTX

Bullish Ideas ATR/Volume/Price: CAM, LB, LULU, TWC, TJX

Bearish Ideas ATR/Volume/Price: gpro, amba, fit, wynn, qihu, vtr, cybr, juno, baba, de, dvn, bidu, kss, pru, hp, adsk, mjn, met, abbv, lng, mur, dltr, gs, mrk, trip, khc, cf<55, clr, twx, pnc, mdt, stt, cl, sndk, lyb, pm, pcar, nee, bmy, slb, amt, nbl, hal, pg, ace, unp, cvx, apa, cern, hon, atn, pxd, adi, jnj, duk, xom, mon, nsc, cop, mmm, cat, bhi, stx, wdc, rrc, lrcx, tgt, swks, axp, hes

Weak Stock Weak Close: gpro, jd, fit, qihu, vtr, baba, cnq, schw, bp, pru, hp, mjn, met, abbv, bax, lng, yhoo, terp, c, qcom, aer, gs, pypl, trip, bkd, ggp, ncr, cog, kim, dd, adm, fe, hpq, pm, pld, bmy, amt, hal, hcn, nue, ppl, coh, adt, hcp, bhi, stx, car, vz, rrc, do

Strong Stock Weak Close: DHI, CCE

Weak Stock Strong Close: juno, payx, yelp, bwa, rost, etn, bx, jci,  hlt, gild

Strong Stock Strong Close: LB, CVC

20 day Breakdown: exc, gpro, so, ggp, ppl, xel, hcp, duk, pld, kim, amt, vtr, d, aep, peg, bkd, ed, hcn

20 Day Breakout: gmcr, jcp, lb,

2x Normal Volume: joy, nbl, bp, dltr, mdt, cat

Watch List Longs: TWC, BBY, JCP, DAL

Watch List Short: kss, abt, ms, met, bk, amgn, wmt, mrk, usb, adm, pm, adm, bmy, slb, hal, cvx, hon, ko, cof, all, trv, jnj, xom, cop, axp

Inside days: CIEN, CVC, RAI, WDC, DYN, WPZ, CCP

Get Started…Get Profitable.

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Stock Futures up 300 Points Overnight | September 8

Stock Market Futures up 300 Points Overnight | September 8

US stock futures up 300 points, point to Wall Street bounce

U.S. equity markets, which reopen on Tuesday after a long weekend, are tipped to open higher amid gains in European and Asian stock markets.

Stock market futures market futures were broadly higher, with Dow Jones industrial average futures trading about 300 points higher in London trade — pointing to a rebound for U.S. stocks which tumbled on Friday amid jitters about a possible Federal Reserve rate hike later this month.

U.S. markets were closed on Monday for the Labor Day holiday.

Further signs of weakness in China’s economy could dent sentiment on Wall Street. Data released earlier on Tuesday showed that China’s dollar-denominated exports declined by 5.5 percent year-on-year in August, while imports tumbled 13.8 percent.

In Asia, Japan’s blue-chip Nikkei stock index closed down 2.4 percent and move into negative territory for the year so far as the weak trade numbers fuelled concerns about demand for Japanese exports from China.

Continue reading on cnbc.com

Wall Street points to strong gains; Dow futures up 300 points

Investing.com – U.S. stock futures pointed to strong gains at the open on Tuesday, as traders returned to their desks from the Labor Day weekend in an upbeat mood.

During early morning hours in New York, the blue-chip Dow futures surged 286 points, or 1.78%, the S&P 500 futures jumped 36 points, or 1.86%, while the Nasdaq 100 futures indicated a gain of 78 points, or 1.85%.

U.S. markets were closed on Monday for the Labor Day holiday.

Market sentiment was boosted amid a global stock market rally, despite grim trade data from China that caused further volatility in Asian markets.

China’s trade surplus widened to $60.2 billion last month from $43.0 billion in July, compared to estimates for a surplus of $48.2 billion.

Exports slumped 5.5% from a year earlier, better than forecasts for a decline of 6.0%, while imports plunged 13.8%, far worse than expectations for a drop of 8.2%.

The weak data raised expectations of more policy easing from China’s central bank in the coming months.

The Shanghai Composite rallied more than 4.5% in the last hour of trade to erase the session’s losses and end up 3%.

Continue reading on investing.com

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