Stocks to Trade 11-11-15 | SPY Inside Day

The SPY is setting up to trade between $208-212 for the remainder of the 2015.

Earnings season is winding down and the interest rate change seems to be on hold until 2016.I know that sounds crazy to make a prediction on the next six weeks of trading, but you need to put the pieces together to create your thesis.

Where is the catalyst to break us out of this range?

What does this mean for your trade ideas? It means our focus remains industry and sector specific.

Stock Market Today: Map of the S&P 500

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Stocks to Trade 11-11-15

Day Trading Game Plan: The SPY ETF Outlook

SPY price action trades into an inside day. Too many traders are focusing on the strong close. Yes, the afternoon buying was nice but it’s still an inside day, plus the reversal was fueled by a minuscule 76 million shares.

(click the chart for a full view)

Stocks to Trade 11-11-15

Pete’s Notes:

  • Bullish reversal in many stocks but also an inside day.
  • I like the reversal but we need to trade above the previous day high to confirm the new buy.
  • Plenty of chatter about the market topping out after one day of selling. Yesterday’s price action shows why you need more time to call a top.
  • Shifting strategy in the SPY from a trend trade to an inside day breakout. Not calling for direction but an expansion in volatility.

Charts in Focus

V Visa Inc.

Visa news is bullish, the chart is reflecting the positive expansion and revenue. A breakout above $79.50 has room to go.

(click the chart for a full view)

Stocks to Trade 11-11-15


Stocks to Trade 11-11-15


Stocks to Trade 11-11-15 | SPY Inside Day

Earnings in play today > 1M avg shares: FLO, ADT, FNV, M, NAT, SINA, WUBA, YOKU

Relative weakness to yesterday’s SPY positive change from the open: apc, csiq, vips, tmus, wdc, scty, stx, gpro, wtw, tsla, fit, avgo, mos, bhi, rrc, aer, gmcr, do, car, amba

> 20sma, positive week and closed 2% higher from the open: DHI, RAX, NFLX, V, CBS, DVN, NSC, ADSK, XON, HOLX, TSO

<20sma, negative last 5 days and closed 2% lower from the open: apc, vps, wdc, scty, stx, fit, mos, bhi, gmcr

Bullish Ideas ATR/Volume/Price: AGN, TSO, V, BIDU, INTU, OXY, FB, TMO, VLO, TAP, COST, RCL, DIS, PSX, PNC, PXD, GILD, AMZN, HD, ADBE, GS, XOM, GOOGL, ESRX, PRU, CTRP, MA, MMM, BABA, ADSK,

Bearish Ideas ATR/Volume/Price: apc, scty, wdc, stx, gmcr, fit, bhi, gpro, rrc, mbly, feye, vrx, cf, unp, cmi, wynn, qcom, skx, pcar, yum, akam, lulu, celg, lulu, cvs, de, cyh, ibm, hcn, etp, kss

Weak Stock Weak Close: apc, scty, wdc, stx, gmcr, fit, bhi, gpro, rrc, grub, mos

Strong Stock Weak Close: CIEN, WTW

Weak Stock Strong Close: kss, len, mnk, tol, twx

Strong Stock Strong Close: ADSK, AGN, TSO, HOLX, V, RSPP, DHI

20 day Breakdown: apc, htz, nrf, scty, stld, wdc

20 Day Breakout: CFG, DHI, GE, MCD, RAX, TAP, XON

2x Normal Volume: GE, SYF, PYPL, VRX, BRCM, DHI, APC, CFG, MNK, CSIQ, RAX, ATW, TMUS, STLD, NSC, FL

Watch List Longs: SBUX, GE, VLO, TRV, COST, DIS, WFC, PNC, HD, JPM, MCD, INTU, ADBE, LUV,

Watch List Short: wmt, adm, bhi, cvs, kss, akam, qcom, m, wynn, t

Inside days: xom, mnk, ebay, wfc, myl, orcl, csx, m, fitb, jnpr, wy, wmt, unp, mo, nsc, cvs, cat, mgm, eog, hd, hcp, sti, bhp, hcn, etp, tjx, duk, ma, tol, nke, nov, esrx, rost, hig, kim, wmt, mar

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Leave a Reply 2 comments

Lou Reply

Notable about the inside day yesterday was not so much the buying near the close….. but the LACK OF SELLERS from 10:15ESTish on. The visible pattern tell here was the Ascending Triangle pattern — specifically HIGHER LOWS (this tells us each time price rejected higher prices…sellers did indeed show up…but fewer and fewer as lower intraday lows were unable to manifest).

Carry this info forward– that adds context to what couldve been a totally different picture within the daily “inside day”.

    Pete Renzulli Reply

    Excellent lesson and feedback Lou
    thank you

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