Yellen Speech Awakens Bulls 9.25.15

NKE earnings and the Janet Yellen speech yesterday pulled the bulls off the sidelines.

We are set to open higher today it will be interesting to see if we close higher into the weekend. If not, I believe the bears will have a solid case.

If you’re a day trader, keep the ag stocks on your radar. They are over-sold this week but continue to be a solid short-sale.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

Yellen Speech Awakens Bulls

Day Trading Game Plan: The SPY ETF Chart

The SPY is now in a confirmed trading range between $192-$200. No bias. It does look like we will get a higher open today. No bias means your reference points to read the tape will be shorter. Yesterday’s high and low, today’s open price.

(click the chart for a full view)

Yellen Speech Awakens Bulls

Stocks to Trade | Friday September 25, 2015

Pete’s Notes:

  • Still trading tight to the vest.
  • Today’s close will be telling to form a bias. If the bulls can’t hold the open price, the bears will be ready to pounce.

Charts in Focus

GoPro, Inc. GPRO

There are only four key charting lessons to master when developing your trading plan and edge.. One of them is accumulation. It’s when institutions are building a position in a stock, usually ending a down trend, that leads to a consolidation. This is viewed on the daily chart below. You will notice the significant increase in volume over the last 4 weeks.

(click the chart for a full view)

Yellen Speech Awakens Bulls

Yellen Speech Awakens Bulls

Earnings in play today > 1M avg shares: BBRY

Stocks that showed Relative Weakness Yesterday– contra to the SPY positive change from the open on 9/24/15:  espr, dxcm, hlf, akrx, xon, incy, sina, wpz, mdvn, cyh, isis, bmrn, chtr, thc, scty, scty, endp, hrtx, vrx, xpo, ual

Above the 20sma, up for the week and closed 2% higher from the open: CYBR, HFC, CLR, FNV

Below the 20sma, Down for the week and closed 2% lower from the open: wpz, mdvn, isis, scty, endp, ual, celg, hznp, wmb


Bearish Ideas ATR/Volume/Price: gpro, amba, wynn, cf, lng, mbly, baba, lulu, cat, feye, myl, hp, abbv, mon, qrvo, lrcx, wmb, lvs, wdc, stx, de, ppg, bidu, apa, wpz, ir, twx, utx, mdt, bxlt, scty, hot, isis, amgn, amt, etn, endp, stt, gs, mjn, hon, apc, mmm

Weak Stock Weak Close: rax, wpz, isis, scty, endp, bkd, wmb, ete

Strong Stock Weak Close: ADBE, UNH, LLY, RAI

Weak Stock Strong Close: lng, mos, gpro, apa, stx, amba, mjn, gd

Strong Stock Strong Close: FB, SBUX, NVDA, TSLA, TSO, HFC, UA

20 day Breakdown: wynn, dyn, cf, hznp, ete, do, cat, mur, m, ip, ppg, c, bbby, endp, hon

20 Day Breakout: AEM

2x Normal Volume: CAT, CAG, MUR, ETE, LNG, DE, DYN, HZNP, ETN, MOS, STI, DOW

Watch List Longs: SBUX, UNH, COST, MO, ADBE

Watch List Short: adm, abt, kss, amgn, met, hon, m, wynn, lvs, nue, dd, c, hpq, qcom

Inside days: ccl, hp, lvs, hrb, jd, wfm, cce, pypl

Yellen Speech Awakens Bulls 9.25.15

Nike NKE earnings exceeded expectations. For a stock already trading near 52 weeks highs in a strong sector, this is a great place to have some trading focus. Buying the stock after earnings is not a good idea today. The better trade is to wait for the price action to pull back and then trade it long into the next quarter.

Nike crushes earnings expectations

Yellen Speech Awakens BullsNike reported first-quarter earnings results after the market closed Thursday, and they were incredible.

The apparel giant reported adjusted earnings per share of $1.34, up 23%, and revenues of $8.4 billion.

Revenues from North America rose 8% – 9% excluding currency fluctuations — and jumped 30% in China.

Analysts had estimated $1.19 in adjusted earnings per share, and $8.22 billion in revenues, according to Bloomberg. They were looking for 10% revenue growth in North America.

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Leave a Reply 2 comments

bob Reply

GREAT A.M. INFO,PETE .,as usual ,also think next week china market closed for week ,may effect today,s close .

    Pete Renzulli Reply

    Thnx Bob!
    Good reminder for everyone about China

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