Intraday Analysis from Fuinhaz - $SPY on the past 1 hour have build on my view and understanding a Head and Shoulder pattern, that even my trading colleagues were having trouble seeing. I had some of them saying that they were seeing on a 15 min chart, so I sent them this chart to help illustrate.
So far it is going my way, but equities are pretty much flat. So or they will drop hard suddenly and follow the $SPY as we close the day, or we will finish to look like we will have a nice gap down day tomorrow.
Please keep in mind that tomorrow we will have a half day. Trading will be just up to 1 pm. markets will be closed on Wednesday for July 4th holiday here in the US. And we will resume trading on Thursday. http://www.shareplanner.com/daily-spy-read/5947--fuinhaz-spy-read.html
Multi-year support check it out - going back to last March, with a slight uptrend. If it bounces, this thing has at least a quick $5 to it. So far the support is holding source: http://www.shareplanner.com/watch-lists/4413-4-swing-trade-setups-to-hop-on.html
for all of 2012 it seems like FITB has been trading sideways, but if we can get over that 14.15 hump, it should rally strong into the $15's. source: http://www.shareplanner.com/watch-lists/4413-4-swing-trade-setups-to-hop-on.html
Either the trend-line is flattening out a bit (yes it has bee very steep over the last 3 months) or there is an innate change of character in CINF. I'm not sure, but I am noticing an increase in volume as are others. Source: http://www.shareplanner.com/trade-setups/4368-six-swing-trades-in-a-tired-market.html
So far BIG has done a great job at keeping this stock from unraveling. If it falls below the $43 level again you'll see the selling pick back up again. Today and tomorrow will be key for BIG. Source: http://www.shareplanner.com/trade-setups/4368-six-swing-trades-in-a-tired-market.html
I think if support can hold on CCL, it should see a 10% pop easily. The only thing that worries me si the 200-day MA. But the gap from January is very enticing as a profit target. Source: http://www.shareplanner.com/watch-lists/4329-breakout-or-down-heres-your-swing-trades.html
This light volume pullback looks like a definite buying opportunity and should finally find enough buyers to push it back above $110. Nice channel it is trading in as well. Source: http://www.shareplanner.com/watch-lists/4329-breakout-or-down-heres-your-swing-trades.html
Huge volume yesterday, and we are so close to finally breaking this downtrend. Just needs to cross $1.14 and we could be in store for a huge move. Chart: http://www.shareplanner.com/watch-lists/4286-day-trading-watch-list.html
Good reports out of the market, leads me to think we'll rally higher today, and see a pop out of SSN from its Bull-Flag and go much higher today. Chart: http://www.shareplanner.com/watch-lists/4286-day-trading-watch-list.html
Once it clears the 196 level, AMZN really looks like it could make that move up into the 220's yet again. Very bullish chart to say the least. Just needs to cross that resistance level. Chart: http://www.shareplanner.com/trade-setups/4273-venturing-into-the-amazon-amzn.html
Not your classical bull-flag but one nonetheless, and once it breaks that $11 level, we could see the next leg up. Let's hope so.... Chart: http://www.shareplanner.com/watch-lists/4270-df-celg-gt-a-mww-our-long-and-short-swing-trades.html
Waiting for CELG to hit 74.15 then I'll have to jump in on this breakout play and see if it can take us into the $80's. Text book bull-flag. Chart: http://www.shareplanner.com/watch-lists/4270-df-celg-gt-a-mww-our-long-and-short-swing-trades.html
Its been a painful ride for the longs over the last 6 months, but with increasing volume (accumulation) and the fact that it is break that hideous down-trend, tells me that CHK is finally ready to fix itself. chart: http://www.shareplanner.com/watch-lists/4244-2-long-and-2-short-swing-trade-setups.html
check out the two previous bottoms after sustained sell-offs - they all happened around that 17.50 level. I can't say for sure, but i would bet it'll do the same again. chart: http://www.shareplanner.com/watch-lists/4244-2-long-and-2-short-swing-trade-setups.html
I didn't realize it but this 6 week rally in the S&P is matching historical proportions. Two more weeks of positive weekly returns and we'll be creeping into territory not seen in over 13 years. I've been getting very bullish ever since we crossed the 1331 level. Here's an article comparing the current rally with historical rallies: http://www.shareplanner.com/market-analysis/4236-where-has-this-market-been-a-where-is-it-going.html
Considering the inverse head and shoulders patter, support at the 50 and a myriad of other bullish reasons, it looks like this stock is ready to pop into the 130's in the next month or so.
Not where you typically find the inverse head and shoulders pattern, but it is nonetheless legit. Possible that we see a move that takes PH back to a test of $100. Here's the chart... http://www.shareplanner.com/watch-lists/4223-mid-day-swing-trades-to-take-on.html
Huge cup and handle making EMR a great play to the long side. Also on the verge of a 50/200 day cross. Here's the chart... http://www.shareplanner.com/watch-lists/4223-mid-day-swing-trades-to-take-on.html
JVA is a stock I've been watching for a while. It fits a pattern I like which is a strong base, high short float and low stock float. This set up makes a great short-squeeze potential. This is what we are seeing today.
JVA gapped up this morning and is trying to get above its 20 ema and resistance at 8.78 doing this would confirm the breakout. This stock can be all over the place in the early going so a move back down could happen but this stocks strong support around 8.31 gives it some good buying pressure.
Heres the chart with technical markups: http://www.shareplanner.com/featured-blogs/network-blogs/piker-trader/4200-jva-coffee-holding-co.html
YHOO Sitting on Support: YHOO it is currently sitting at short-term support at 15.38. This support comes from two things, first the 200 ema which is at 15.38 and price support from the last two weeks. In addition this is also the middle of the range YHOO has been in for the last couple of months.
Chart on YHOO: http://www.shareplanner.com/featured-blogs/network-blogs/piker-trader/4197-yahoo-(yhoo).html
Range Bound: YHOO has remained in a range of 14.74 and 16.40 since November 1st and an even large range from 16.73 to 13.86.
Current Price Action= Descending Triangle: After testing the top of its range in late December Yhoo has retreated back down and based around its 200 ema forming a descending triangle pattern. This pattern size is a conservative .73 (16.11-15.38)or a 4% plus drop from the base. This drop puts YHOO right back at the bottom of its short-term range- so this move is logical. This would also be a logical bouncing point for YHOO. YHOO could break out of this triangle if it is able to get above 15.67 and then above 16.00
Overall: Yahoo has chopped around with the market but is looking weak having been in short-term downtrend while the market has been rallying. It reported earnings on 1/24 and this catalyst still didn't move the stock. YHOO is bearish below 15.38 and even more bearish below 14.74. This stock is not going anywhere till it breaks either 16.73 or 14.74. Short-term before YHOO can get bullish it needs to break above 15.67 which has been resistance during the last few days last time YHOO broke this it bounced higher.
Low Short Float= 3%
Short-Term: Descending Triangle (Bearish)
Long-Term: Range Bound (Neutral)