Today's Trading Plan: Overextended But Still Running
From SharePlanner
January 22, 2013 - 9:40am
Pre-market update (updated 8:30am eastern):
European markets are trading 0.4% lower.
Asian markets traded mixed.
US futures are trading mixed and flat ahead of the opening bell.
Economic reports due out (all times are eastern): Chicago Fed National Activity Index (8:30am), Existing Home Sales (10am), Richmond Fed Manufacturing Index (10am)
Technical Outlook (SPX):
SPX finished for the fourth straight day in the green.
Price action is up against the upper channel band. Last time this occurred we saw a slight pullback in the markets. Upper channel resistance today sits at 1493.
Continues support sits at the 10-day moving average, as we have managed to trade above it now for 13 straight days.
At 1451, you have a significant inflection point for the markets. If the market pulls back and price dips below this price level, there is a significant gap to fil...
January 22, 2013 - 9:40am
Share This Article:
Wall Street Buzz
- May24 4:59pm'Magic Formula' Inventor Joel Greenblatt New Buys Rundown
- May24 4:46pmWhatever You Do, Avoid These 3 Stocks
- May24 4:45pmStocks Pare Losses to End Little Changed
- May24 4:40pmMarket News: Google, Sears, Abercrombie & Fitch, Procter & Gamble
- May24 4:32pmTech Stocks: Salesforce, Google losses hit tech stocks
- May24 4:26pmDow Posts First Weekly Loss Since Mid-April
- May24 4:22pmUnitedHealth Group Inc. (UNH), CIGNA Corporation (CI), Aetna Inc (AET): Did California Just Expose a Major Flaw in Obamacare?
- May24 4:21pmMicrosoft Corporation (MSFT): Xbox One Will Be a Spy?
- May24 4:18pmApple Inc. (AAPL) Lowers Prices On Refurbished iPad 4 and iPad Mini
- May24 4:17pmThis Metric Says You Are Smart to Sell Fidelity National Financial Inc (FNF)
- May24 4:16pmCurrencies: Yen continues rise against dollar
- May24 4:15pmBillionaire David Shaw’s Top Picks for Q2 Include Wells Fargo & Co (WFC)
- May24 4:14pmRio Tinto plc (ADR) (RIO) & Three Shares That Show This Bull Market Ain’t Over
- May24 4:11pmSBA Communications Corporation (SBAC): Insiders Aren’t Crazy About It
- May24 4:11pmShould We Protect Hardworking American Journalists From Insidious Foreign Competition?
- May24 4:05pmYahoo Bids For Hulu
- May24 4:05pmTarget Corporation (TGT) Seems Impervious to Mediocre Results
- May24 4:04pmChevron Corporation (CVX)’s Promising South American Trifecta
- May24 4:04pmHedge Funds Are Selling Broadcom Corporation (BRCM)
- May24 4:01pmGoogle Inc (GOOG): Is This Next-Gen Device Coming or Not?
- May24 4:00pmSuccinct Summations of Week’s Events (May 24 2013)
- May24 3:59pmShould You Avoid Kraft Foods Group Inc (KRFT)?
- May24 3:57pmBond Report: Treasury volatility caps fourth week of losses
- May24 3:56pmPlains Exploration & Production Company (PXP): Insiders Aren’t Crazy About It
- May24 3:54pmYahoo joins the gaggle of bidders for Hulu
- May24 3:52pmShould You Avoid Covidien plc (COV)?
- May24 3:51pmDoes a Huge Earnings Miss at Dell Inc. (DELL) Signal the End of the PC?
- May24 3:50pmRiding A Copper Horse
- May24 3:49pmYet Another Debt Chart That Is Not Big Enough To Fit Japan
- May24 3:49pmHedge Funds Are Buying CIGNA Corporation (CI)
- May24 3:42pmHere is What Hedge Funds Think About General Dynamics Corporation (GD)
- May24 3:42pmThis Metric Says You Are Smart to Sell Bristol Myers Squibb Co. (BMY)
- May24 3:41pmHedge Funds Are Selling SunTrust Banks, Inc. (STI)
- May24 3:40pmArgentina Just Realized That One Of Its Default Holdouts Owns A Factory In Buenos Aires
- May24 3:39pmJohn Shinal's Tech Investor: Can Marissa Mayer leave those crazy kids alone?
- May24 3:35pmDo Hedge Funds and Insiders Love W.R. Grace & Co. (GRA)?
- May24 3:35pmWhy Bank of America Corp (BAC) Is Following the Crowd Today
- May24 3:34pmMarkets Move on Fed's 'Taper' Hints
- May24 3:31pmFutures Movers: Oil down four sessions in a row for 2% weekly loss
- May24 3:30pmTiming the Final Bottom in Silver
- May24 3:30pmSears Holdings Corp (SHLD) Plummets; Lampert Loses Almost $639M
- May24 3:29pmMelco Crown Entertainment Ltd (ADR) (MPEL): Insiders Aren’t Crazy About It
- May24 3:28pmThe 6th Annual 2013 Pershing Square Challenge
- May24 3:26pmPersonal Finance Daily: Ben Bernanke is daring us to buy stocks
- May24 3:25pmCitadel Would Like The Fees It Wrongly Paid Back
- May24 3:25pmHedge Funds Are Buying Las Vegas Sands Corp. (LVS)
- May24 3:24pmMovers & Shakers: Sears, GameStop are Friday’s biggest movers
- May24 3:24pmNetflix, Inc. (NFLX) Looks to Hook Subscribers With “Arrested Development”
- May24 3:22pmMarket Snapshot: U.S. blue-chip stocks catch updraft on P&G
- May24 3:22pmThe Rich Actually Are Different
