Friday, September 9, 2005
Issue Contents:
| 05:07 | Market Statistics For Thursday September 8, 2005 |
| 09:25 | Swing Trade Setups Featured charts for Friday September 9 |
| 16:15 | TrendVue Trader Talk Today's transcript. |
Statistics for Thursday September 8, 2005
Our custom symbol universe of the most heavily traded or liquid US stocks is used as the base for analysis.
| Symbols in Up Swings | 431 |
|---|---|
| Symbols in Down Swings | 250 |
| Up/Down Swing Ratio | 1.72 : 1 |
| Up Bars | 37% |
| Down Bars | 37% |
| Inside Bars | 13% |
| Outside Bars | 8% |
| Close > 20EMA | 34% |
| Close > 50SMA | 57% |
| Close > 200SMA | 63% |
| 20EMA > 50SMA > 200SMA (trend up) | 44% |
| 20EMA < 50SMA < 200SMA (trend down) | 19% |
Hmnn, two days, no net movement, same number of symbols printed up and down bars, somewhat more remain in up-swings yet fewer are above their twenty day moving average. Market environment so far: choppy with a bias to up so far, which would change to a negative bias, if:
- price breaks Thursday’s low and closes below
- price breaks the 50% level of Wednesday’s tall up bar; whenever we see a tall up bar we should mentally draw a support line through the middle of the bar, and at the base.
Featured setups from Thursday September 8, 2005 closing data symbol scan
Jump to: Long Setups | Short Setups | Special Situations
Notes for the Day
- Be careful of INTC / TXN news being sold off… but be ready for more up as well… market is at a pivot point.
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.
Retracement or Pause in Up Swing / Up Trend
AEP – Electric utilities have been showing strength
AMZN and GOOG are among the stronger internet stocks. YHOO/EBAY among the weaker.
HD – first post Katrina pause for this home products co
Test of Top – Continuation
PG – near a 2 year high here.
PG, weekly
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.
Retracement or Pause in Down Swing / Down Trend
CLS – reminder to follow up on weaker EMS firms such as CLS; JBL and others.
F – autos
BAC – banking
GE – where GE goes the market goes? Could be used as a proxy for DIA / Dow 30
GE – weekly
Special Situations
GOOG – sacriledge to sell? 1,2,3 peaks and price risen near resistance – opportunity for AGGRESSIVE traders only. Be careful.
Today's transcript.
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