TrendVue :: Archive

Tuesday, September 27, 2005
Issue Contents:

09:04	The Day Ahead Economic releases and news
09:27	Swing Trade Setups Featured charts for Tuesday September 27
16:15	TrendVue Trader Talk Today's transcript.

The Day Ahead

Good morning, today is Tuesday September 27th, the 270th day of 2005, on a day when the consumer is front and center in focus. According to the latest ICSC chain store sales report, consumers are continuing to check their wallet twice before spending. The consumer confidence number at 10am is likely to have a bigger than normal impact on the market this morning.

Alan Greenspan managed to affect the housing-related sector yesterday, in a speech on mortgage banking, presented to the American Bankers Association. Late today he’ll have a chance to do it again, in an address to the National Association for Business Economics.

Amid various popular press reports that offshore drilling platforms and rigs may have escaped Rita’s wrath, this sobering update from industry specialists Rigzone details some of the known damage – it will take some time before the full extent of above water and underwater damage is understood.

US Market Calendar

7:45 am: ICSC-UBS Store Sales¹
8:55 am: Redbook – Sep. 24th week
10:00 am: New Home Sales – August
10:00 am: Conference Board Consumer Confidence Index – September
12:00 pm: San Francisco Federal Reserve Bank President Janet Yellen speaks on the U.S. economy, in London, England.
2:45 pm: Federal Reserve Chairman Alan Greenspan addresses the NABE conference

Canadian Market Calendar

No scheduled releases

Earnings and the Federal Reserve

For earnings highlights, please see today's WSJ Earnings Calendar.

For a list of upcoming speeches, congressional testimony, Federal Open Market Committee material, and statistical releases, please visit the What's Next page of The Federal Reserve Board website. Recently released Federal Reserve Board material, including market moving FOMC decisions and speeches by members, will be found on their What's New page.

¹ US chain store sales fall in the latest week

^ 05.09.27 09:04 #

Swing Trade Setups

Featured setups from Monday September 26, 2005 closing data symbol scan

Jump to: Long Setups | Short Setups

Notes for the Day

While markets failed an intraday test of top yesterday, price did not break down enough to head immediately lower and thus we may yet see buyers step in, despite the plethora of short ideas out there, some of which I’ve included here today.
Please review long-side trades from yesterday as well for ideas to follow up on as well.

ETFS

Longs from two days ago may be held but should have stops moved to or near break even by now. There are unfortunately plenty of short setups here, yet when I see way too many short setups out there, occasionally that means prices are NOT headed lower. Keeping an open mind.

QQQQ

SPY

DIA

Long Setups

General common strategy: Unless noted otherwise, buy stop just above the “high” value, with an initial protective stop at the low value of the bar, not below the bar.

Test of Bottom – Reversal

GIS – food – first retracement after a test of bottom

Retracement or Pause in Up Swing / Up Trend

AT – consumer telecom services

Test of Top – Continuation

BNI – railway – follow up in next day or two if not triggered today

Short Setups

General common strategy: Unless noted otherwise, place a sell alert at or just below the low of the setup bar, and look for the first failed intraday bounce after the low has been broken. What we are looking for is price to push down, bounce a little, and fail again – this is where we want to get short.