Stock Traders Continue Buying Without Opposition

The stock market continues to close above the open.

Stock traders continue buying with the safety net firmly in place. This market reminds me a lot of March 2003 and March 2009. New lows are buying opportunities instead of a short-sale. Many day traders I know are having their patience tested. The stock market between 9:30-4pm is moving in incoherent spurts. There is little flow making it hard to read the tape.

Hard but not impossible. If you’re finding this a challenge, you need to work the keyboard harder and dig the good trades out. Complaining or going to happy hour will not make you money.

 As T. Harv Eker says…”You can have results, or you can have excuses, but you can’t have both.”

If you want to be a full-time trader this is part of the business…let’s see what you’ve got…

If you need some help leave a comment below…

Pete

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Pete’s  Day Trading Notes:

  • The stock market is closed Friday. The bears can use the day off.
  • Light volume day shows big money taking the day off.
  • $FB should give us a trend day today after 3 days of rest.

S&P 500 Futures Fall After Brussels Bombings; Travel Stocks Drop

U.S. stock futures fell after bomb explosions in Brussels jolted markets, signaling an end to a four-day winning streak for the Standard & Poor’s 500 Index.

Carnival Corp., Southwest Airlines Co., American Airlines Group Inc., Expedia Inc. and Priceline Group Inc. led travel-related stocks lower in premarket trading, falling at least 1 percent each. Flights in and out of Brussels were canceled and security precautions were stepped up at travel hubs around Europe after blasts in the Belgian capital.

Contracts on the S&P 500 expiring in June retreated 0.4 percent to 2,035 at 6:57 a.m. in New York. Dow Jones Industrial Average futures lost 46 points to 17,482, a sign the gauge will snap seven straight days of gains, it’s longest streak of increases since October.

“The attack is an external shock, and its impact on the rebound rally will depend on if it is followed by similar incidents,” said Christian Gattiker, head of research at Julius Baer Group Ltd. in Zurich. “Its been a rollercoaster in the first quarter.”

Continue reading on bloomberg.com

Stock Market Today: Map of the S&P 500

(click the map for a full view)

spy map 22

Stock Traders Continue Buying Without Opposition 3-22-16

Stocks Rise As Nike Sprints, But Apple Falls Flat

Stocks held mild gains Monday, as a flurry of merger activity helped offset disappointing existing-home sales.

The Nasdaq closed up 0.3%; the S&P 500 and Dow Jones industrial average each climbed 0.1%. Volume was lower across the board vs. Friday’s options-expiration fueled levels, according to preliminary figures. Winners and losers were nearly even on the NYSE, while advancers topped decliners by about a 6-5 margin on the Nasdaq.

Stocks initially dipped after the National Association of Realtors said existing-home sales fell 7.1% in February to a seasonally adjusted 5.08 million annual rate, the second-weakest level in a year.

Automakers, biotechs and other drug stocks led the upside in the stock market today. Energy, dairy products and retailers underperformed. West Texas intermediate crude prices gained more than 1% to $41.64 a barrel.

Nike (NKE) led the Dow with a near 3% gain in faster-than-usual trade, ahead of its Q3 earnings report, due Tuesday after the close. Analysts expect the athletic shoe and apparel maker to grow earnings 9% to 49 cents a share on 10% higher sales to $8.2 billion. JPMorgan boosted its price target to 72 from 67.50.

Apple (AAPL), up as much as 1% ahead of its 1 p.m. ET product launch event, closed down a penny. The i-gadget maker unveiled a new 4-inch iPhone, a new iPad Pro tablet and cut the price on its entry-level Apple Watch by $50 to $299. Shares are 6% below the 200-day moving average and 21% off their 52-week high.

Continue reading on investors.com

Chart Reading the SPY ETF

$SPY light volume day offers little for bulls or bears, other than another close above the open.

(click the chart for a full view)

spy chart 22

Technical Analysis | Charts of Interest

$WRK on finviz.com

Looking Ahead to Earnings for WestRock Co (NYSE:WRK)

Investors and analysts will be looking ahead to WestRock Co (NYSE:WRK)’s next earnings report which is slated to be released sometime on or around 2016-05-04 for the period ending on 2016-03-31. Street analysts have a consensus EPS projection of $0.52 for the current quarter. The company posted EPS of $0.27 for the same quarter last year

Continue reading…

$WRK new confirmed up trend with nice volume on the positive days. First target is $46.21

(click the chart for a full view)

WRK

CLICK IMAGE to ENLARGE

Stocks to Trade 3-22-16

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: SRPT, SM, IONS, CTRP, GILD, CRZO, WRK, DVN

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

Quarterly Order Flow:

Bullish Stocks to Trade: IONS, CTRP, HOT, SLCA, NKE, BABA, TSLA, YUM, BA, VLO, IBM, CHTR, DG, ADSK, CAT, HON, FDX, CMI, LOW, FB, PSX, AVGO, AEM, DE, CVS, UNH, HES, KMB, MCD, HD, MMM, BIDU, NEE, CB, CVX, WYNN

Bearish Stocks to Trade: endp, lly, teva, vrtx, celg, incy, vrx

2x Normal Volume: AFFX, HIMX, ENDP, MAR, CPGX, HOT, VRX, SRPT

Inside days: csco, fb, jpm, nvda, cvx, xom, jnj, v, mdt, cat, unp, axp, mos, cvs, wfm, stx, tmus, unh, adi, jwn, cf, chtr, coh, a, mmm, kss, aet, tif, pnc, rax, uri, kors, tso,

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