Stock Trading Today 8-2-16 | $CVS

Today’s Trading Lesson | Trading a Potential Change of Trend

With so much indecision in the market right now I thought it a good time to discuss what to do.

My team is getting a lot of emails about getting chopped up. This occurs because you recognize order flow but not a “box.” This box is the potential change of trend

When a trend line is broken, it’s imperative to draw a box and be patient. Most money is lost here. Consider it the “right price” until order flow kicks in again.

I highly recommend you draw trend lines on the stocks you plan to trade. NO moving averages, just pure price action. This gives you a much better feel than simply rising or declining. I use a weekly chart going back about 18 months to draw the trend lines, and a daily chart showing 3 months of action using moving averages.

Give these two charts a try when you do you your game plan. The combination gives a really solid view of your ideas.

stock trading today

$GS Game Plan Charts

On the Tape Today...

$CELG  a buy today ONLY if it opens lower. A higher open is a great profit taking opportunity. (see chart)

$HD continues to trade above the breakout level with 3 well-bid days. Look for one more day higher.

$UA 3 days of indecision at the 50 sma, look for a sell short below $39. Avoid the long at support.

$FB bottom tail look for a buy above $124.50 with a target of $128.

$CELG 8-2-16 (Click to Enlarge)

stock trading today

$CELG 8-2-16

U.S. stock futures tread water with income, spending reports due to roll in: 

Earnings expected from CVS, P&G, Pfizer, Molson Coors

U.S. stock futures edged lower Tuesday, as investors waited for readings on personal income, spending and inflation, along with earnings from CVS, P&G and other household names.

The dip puts the Dow Jones Industrial Average on track for its seventh down session in a row.

“While many investors may already be eyeing up Friday’s U.S. jobs data, today’s income, spending and inflation figures should not be overlooked and will also be very influential when the [Federal Reserve] is deciding whether or not to raise interest rates at the coming meetings,” said Craig Erlam, senior market analyst at Oanda, in a note.

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Stock Market Today: Heatmap of the S&P 500

stock trading today 8-2-16

$SPY Heatmap 8-2-16

Stock Trading Today 8-2-16 | $CVS Earnings

Nasdaq Ends Near Record High; Oil Stocks Sink Dow, S&P 500

The major averages ended mixed Monday, as declines in Exxon Mobil (XOM), Chevron (CVX) and other oil stocks were offset by gains in technology issues.

The Nasdaq edged up 0.4%, ending just shy of its all-time high of 5231.89 hit a year ago. But the Dow Jones industrial average slipped 0.2%, and the S&P 500 dipped 0.1%. Both the Dow and S&P recently rose to record highs.

Volume was lower, falling 11% on the NYSE and edging down a fraction on the Nasdaq compared to Friday, according to preliminary data.

Meanwhile, oil prices dropped almost 4% to nearly $40 a barrel amid data showing that OPEC members were increasing output, adding to an already saturated market.

Exxon and Chevron each sank nearly 4% in heavy volume, weighing on the Dow.

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Tape Reading the SPY ETF

$SPY is still silent.

Oil stocks getting hit across the board, and a ton of inside days today (see list below), I am expecting a trend day today.

Good trading days can sneak up on you when the market goes into a funk. Be ready today. 

If the market trades lower today stay away from the 3 major indices, they are not a short sale. There are plenty of stocks in today’s short sale list that have “mark down’ order flow or well-offered momentum.

stock trading today 8-2-16

$SPY 8-2-16

Stocks in Play: $CVS research on

$CVS Earnings NEWS: CVS Health’s Q2 Earnings: Here’s What To Expect

VS Health (CVS) reports second-quarter results early Tuesday, after Walgreens Boots Alliance (WBA) takeover target Rite Aid (RAD) in June noted reimbursement-rate pressure at its pharmacies.

Meanwhile, CVS has been adding health-conscious food and drinks to its CVS Pharmacy stores as consumers continue to gravitate toward natural and organic foods.

Estimate: EPS of $1.30, up 7%, on a 19% revenue gain to $44.28 billion.

CVS shares closed up 0.8% on the stock market Monday at 93.49. CVS is trying to retake their downward sloping 50-day average.


What to Expect When CVS Health (CVS) Reports Q2 Results

 CVS Health (CVS) will report 2016 second quarter earnings before Tuesday’s market open.

NEW YORK (TheStreet) — Shares of CVS Health  (CVS)  are climbing 1.29% to $93.92 this afternoon as the company prepares to report 2016 second quarter earnings before Tuesday’s opening bell.

CVS stock is down 15% for the year, however, industry trends could aid the pharmacy benefit manager in the upcoming quarter. The Food and Drug Administration currently has a backlog of 3,000 applications for branded drugs to turn generic, and CVS should be able to expand its margins as these applications are approved.



$CVS 8-2-16

Stocks to Trade 8-2-16 | Tuesday Edition

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: IONS, EXAS, NFLX, NWL, SRPT, KORS, CELG

Negative last 20 and 5 trading days | closed 2% lower from the open: dor, mur, clr, dvn, apa, etp, apc, nfx, hes, oke, mbly, nbl, eog, xom, cvx, hal, wdc, rrc

Quarterly Order Flow:

Bullish Stocks to Trade: BABA>85, CELG, AAPL, GRUB, AEM, AMGN, AMZN, LRCX, IBM, HD, FB, STT, UNH>145, UNP, VMW, CAT

Bearish Stocks to Trade: do, nur, hes, cop, psx, skx, de, luv, gild

2x Normal Volume: IONS, NWL, ETN, HIG, XOM, DO

Inside days:  msft, kr, dal, mrk, mpc, dvn, cog, hig, gps, azn, atvi, wfm, pypl, mgm, mo, pm, ccl, teva, mcd, esrx, oxy, ctrp, pep, nxpi, bby, hog, hfc, gis, psx, jwn, lvs, hon, de, anf

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