Tuesday, July 5, 2005
Issue Contents:
| 09:04 | Swing Scanner Results Friday July 1 closing data |
| 09:04 | Market Statistics For Friday July 1, 2005 |
| 09:21 | The Day Ahead Economic releases and news |
| 15:31 | The Big Picture |
| 16:15 | TrendVue Trader Talk Today's transcript. |
| 16:52 | Swing Scanner Results Tuesday July 5 closing data |
| 16:54 | Market Statistics For Tuesday July 5, 2005 |
Friday July 1 closing data
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Statistics for Friday July 1, 2005
Note: Statistics are compiled based on our custom symbol universe of the most heavily traded stocks.
| Symbols in Up Swings | 324 |
|---|---|
| Symbols in Down Swings | 420 |
| Up/Down Swing Ratio | 0.77 : 1 |
| Up Bars | 24% |
| Down Bars | 46% |
| Inside Bars | 18% |
| Outside Bars | 5% |
| Close > 20EMA | 59% |
| Close > 50SMA | 65% |
| Close > 200SMA | 56% |
| 20EMA > 50SMA > 200SMA (trend up) | 39% |
| 20EMA < 50SMA < 200SMA (trend down) | 22% |
Good morning, its Tuesday July 5th, the 186th day of 2005.
Scheduling notice: After returning very late last night from a 4 day holiday – our first publishing break in what seems like eons now – it will take most of today to creep back up to full speed. TrendVue Trader Talk will be open all day however Mike will be available for the first 90 minutes and then off and on for the balance of the day while he works on other tasks including a sector review. Swing trade setups, limited as they are likely to be after both Canada and the United States have had market holidays surrounding the weekend, will be published as noted this morning in TrendVue Trader Talk. TrendVue will be back to its regular schedule for tomorrow’s trading session.
A quick glance through stock charts shows us that oil remains a factor and those stalking weaker stocks over the past two sessions have been rewarded, provided one wasn’t shorting energy stocks, something regular readers here know we are not yet prepared to do.
There’s little by way of economic news today and the week by and large holds little in the way of market moving economic news until Friday. The regular Wednesday EIA Petroleum Status report will be published on Thursday on account of the holiday.
The major story of the week is likely to be oil.
Repeat as neccessary!
Up this mornining:
- 10:00 am: Factory Orders – May
- 3 & 6-month T-bill auction
Price continues to chop along under resistance, after having broken below the uppermost trading ranges on June 23 as noted here on these big picture 135 minute intraday charts. We declared then that the prior up trend had terminated and the primary direction was now down, until price proves to us that it can trend higher, intraday, above a significant trading range.
Nasdaq 100 Futures
S&P 500 Futures
Dow 30 Futures
We can see potential change of trend zones developing as price on ES and NQ threaten to break higher above the lowermost trading range. If price should break out higher and hold we’ll want to default to the long side again, in the broad market.
The spoiler for any broad rally this week is likely to remain oil, at least until later in the week when oil (Thursday) and natural gas (Friday) inventories are reported, and the impact is known, if any, of Tropical Storms Cindy and Dennis.
Not until Friday do we have an economic report with direction changing potential – the Labour report. Until then, company warnings, oil and minor currents around lesser news are likely to reinforce what is normally a choppy trading environment for the broad market as holiday season kicks off.
Speaking of weather, also noted today on the NOAA National Hurricane Center site was the following comment within one of the advisories on Dennis:
JULY 5 IS THE EARLIEST DATE ON RECORD FOR THE FOURTH NAMED STORM TO HAVE FORMED IN THE ATLANTIC BASIN.
Interesting…
Today's transcript.
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Tuesday July 5 closing data
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Statistics for Tuesday July 5, 2005
Note: Statistics are compiled based on our custom symbol universe of the most heavily traded stocks.
| Symbols in Up Swings | 373 |
|---|---|
| Symbols in Down Swings | 369 |
| Up/Down Swing Ratio | 1.01 : 1 |
| Advancers | 72% |
| Decliners | 27% |
| Unchanged | 1% |
| Up Bars | 43% |
| Down Bars | 26% |
| Inside Bars | 8% |
| Outside Bars | 18% |
| Close > 20EMA | 72% |
| Close > 50SMA | 68% |
| Close > 200SMA | 59% |
| 20EMA > 50SMA > 200SMA (trend up) | 40% |
| 20EMA < 50SMA < 200SMA (trend down) | 21% |