The U.S. stock market closed out the week on a positive note Friday, and ended the week basically flat. The markets received positive economic news with better than expected inflation data. After a positive open, they rallied into the close. Still, this rally remains within the confines of a short term downtrend, which can only be broken with a close above 12,500 on the Dow Jones and about 1380 on the S&P 500.
The NASDAQ and ND-100 have much better stock charts. They can reverse their short-term trends just be closing up about 1% above Friday’s close.
What we would like to see in the next 4 to 7 trading days is a sizable rally in the averages, similar to today, but with at least a 2% gain in the Dow and S&P.
Monday's potential day trade list on the buy side includes SQM, WLL, WTI, GGB, SWN, ACI, and HK.
Potential short day trades include CSIQ, WYNN, SUN and VLO.
Good Trading!
Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment