Market Musings for January 22, 2007
Market trend:
|
|
Hourly |
Daily |
Weekly |
|
S&P 500 |
Uptrend |
Uptrend |
Uptrend |
|
Nasdaq |
Downtrend |
Uptrend |
Uptrend |
|
DOW |
Uptrend |
Uptrend |
Uptrend |
Market Watch:
SPX: SPX is just about hovering at the resistance line but it seems to be showing some strength. It didn’t waste too much time in moving away from oversold condition. We have to watch if it continues show more strength from here.
COMPQ: Techs have entered back into the trading range with that long candle. That makes me a little nervous. Some other commentaries are calling it a bull trap. Is it? Could be. I will give it the benefit of doubt with the widespread market strength that is being exhibited. So I will be looking to enter longs and hope some earnings don’t play havoc.
DOW: I wish the other indices were trading as strong as the DOW J
Industry Watch:
Industries in play: Broker/Dealers, Biotech, Pharmaceuticals, Healthcare, Chemicals, Retail, Airlines & Consumers
Free Stock Picks:
Today I will be looking to enter longs aggressively. Let us hope that no earnings announcements play havoc with our plans.
|
Name |
Side |
Entry |
Stop |
|
AGE |
L |
67.36 |
66.2 |
|
JBLU |
L |
15.85 |
15.2 |
|
LM |
L |
102.6 |
101 |
|
MHS |
L |
57.1 |
56.1 |
|
UAUA |
L |
50.05 |
48.9 |
|
WCG |
L |
73.75 |
72.8 |
|
CAL |
L |
48.35 |
46.6 |
|
GS |
L |
211.5 |
208.7 |
|
MEDI |
L |
35.05 |
34.3 |
|
COL |
L |
67.1 |
66 |
