Today’s Trading Lesson…
The $SPY offers a double inside day today.
A contraction in volatility always leads to an expansion. A trend day.
When trend days line up, you must be ready to max your winners.
- Today’s video (5:30) discusses how to trade the inside day.
- How to time entries with inside candlesticks.
On the Tape Today...
$AAPL momentum and resistance leads to a day of profit taking. Do not get long a higher open (see chart)
$CAH short sale below $75 sets up a target to cover at $73. Need an intraday entry and tight stop to justify.
$UAL bull flag sets up a new leg long. Look to bid in the $51 area. First target is $54.50
$PRU buy-stop over $80 remains in play. A great lesson here for keeping a tracking journal so you don't give up on good ideas that are slow to trigger.
$AAPL 9-15-16 (Click to Enlarge)
U.S. stock futures stuck in tight ranges ahead of data deluge
Wall Street was set for a wobbly open on Thursday, with futures struggling for direction ahead of a raft of data that could influence the case for the Federal Reserve to raise interest rates.
Data deluge: However, the main focus for Thursday’s trading action is likely to be the deluge of economic data arriving premarket. In the limelight are retail sales for August, out at 8:30 a.m. Eastern Time, as they work as a bellwether for the broader economy.
Stock Market Today: Heatmap of the S&P 500
Stock Trading Today 9-15-16 | $SPY Double Inside Day
Biotechs Help Nasdaq To Small Gain; Apple’s Rise Fails To Spur Dow
In the stock market today, Dow component Apple surged past a 110.33 buy point in heavy volume, rising nearly 4% and extending gains after Tuesday’s move, which was fueled by news of strong preorders for the iPhone 7.
Skyworks (SWKS) and Broadcom (AVGO) outperformed in the Nasdaq 100, along with several biotech names like Alexion (ALXN), Celgene (CELG) and Regeneron (REGN).
Several recent IPOs outperformed as names like Impinj (PI), Penumbra (PEN) and Lumentum (LITE) all rose around 3% or more.
Tape Reading the SPY ETF
$SPY showing consecutive inside days ahead of economic data.
Thursday and Friday should be excellent trading. Be on your toes for consecutive trend days. Your trading career depends on maximizing the days the stock market offers more.
We all trade our way into break-even. The small losses and small wins wash each other out.
Happy, successful traders can see profitable days lining up and earn what they should.
Stocks in Play: $ORCL research on finviz.com
$ORCL EARNINGS NEWS: Oracle earnings clouded by NetSuite acquisition uncertainty
Oracle Corp.’s financial results will give further insight into its cloud transition, but a big part of that change is still uncertain.
Oracle ORCL, +0.17% is expected to release fiscal first-quarter financial results after the market closes on Thursday, just days ahead of next week’s annual Oracle OpenWorld conference. All eyes will again be on the enterprise software giant’s cloud transition, which launched four years ago amid a series of $1 billion-plus acquisitions of software-as-a-service companies in an attempt to catch up to rapidly growing companies like Salesforce.com Inc. CRM, +1.04%
In July, Oracle jumped back into the purchasing pool with its largest cloud-focused acquisition attempt yet, a $9.3 billion offer for NetSuite Inc. N, -0.27% a company that counts Oracle cofounder and Chairman Larry Ellison as its largest investor. That deal could be in doubt.
Oracle Earnings Hot Topics: Cloud, Database Product, NetSuite
Oracle’s (ORCL) fiscal Q1 earnings are expected to rise 9%, with analysts looking for executives to shed more light on how the proposed NetSuite (N) acquisition will impact cloud revenue growth and product strategy.
For the quarter ended Aug. 31, analysts polled by Thomson Reuters expect revenue will rise 3% to $8.7 billion, with EPS climbing 9% to 58 cents.
Oracle reports earnings after the market close Thursday. READ MORE — >>
Stocks to Trade 9-15-16 | Thursday Edition
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: CXW, IONS, AVGO
Negative last 20 and 5 trading days | closed 2% lower from the open: mur, fslr, sm, cah, nfx, nbl, mos, cop, oxy, twlo
Quarterly Order Flow:
Bullish Stocks to Trade: SRPT, AAPL, WYNN, LVS, BABA, MOMO, TRGP, SE, PRU, CHTR, FB, CLVS, MA, COF, UAL
Bearish Stocks to Trade: mur, fslr, cah, hes, ctsh, cvs, nue, esrx, bmy, dis, tjx, cost, low, tsla, crm, dltr, dg, nclh, ions
2x Normal Volume: AAPL, MON, SRPT, APC, LYB, CAH, ABC, HDS, CLVS
Inside days: mon, pfe, intc, pypl, ms, kr, bmy, hal, lyb, abt, sbux, qcom, abbv, dg, low, low, slw, momo, dhi, hd, pep, wdc, mbly, yum, tsla, rost