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ShadowTraderPro Swing Trader 02.13.12 $JOY $CTSH $ISRG #stocks #trading #investing
ShadowTrader Swing Trader |
2/12/2012 5:58:26 PM
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The ShadowTraderPro Swing Trader is your every morning dose of market reality brought to you from the resident geniuses at ShadowTrader. Each issue contains a full report on the prior day's action, including market internals, technicals, and what sectors were hot and cold. Each issue also includes the ShadowTraderPro Model Portfolio, which updates members on what stock plays STPro is currently engaged in officially, as well as provide a daily list of long and short setups for more self-directed traders and investors.
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Good morning traders. As an add on to Peter's video analysis of Friday's broad market price action, which can be accessed in the
ShadowTrader Weekend Update, the chart below provides another interesting clue for the probable short term price direction of stocks.
In spite of the broad market's largest daily close lower so far this year, money flow (blue line) was positive by a healthy measure on Friday. Additionally, block trades recorded a higher positive ratio in a majority of sectors on the same day. All of this supports the theory that big players used Friday's weakness as an opportunity to buy stocks in anticipation of higher prices.
If we combine this information with the broad markets measurement of being close to oversold conditions as discussed in ShadowTrader Sector Trend Score section below, we wouldn't be surprised to see the market trade back higher early this week, if not today.
Under The Hood
When we say "under the hood" we mean market internals, ie: what was really happening behind the scenes. ShadowTraders who listen to our daily broadcast every day live on the thinkorswim platform know that all closing figures on the major averages should only be interpreted in the context of market internals. Look for convergences and divergences in the breadth, a/d line, and trin figures below to either confirm or cast doubt on what all those talking heads on TV are telling you.
|Dow Jones Industrial Average||12801.23||-89.23||-0.69% |
|S&P 500 Index||1342.64||-9.31||-0.69% |
|Nasdaq Composite||2903.88||-23.35||-0.80% |
|Nasdaq 100||2547.32||-16.61||-0.65% |
|Russell 2000||813.33||-12.14||-1.47% |
|Spot Gold||1723.10||-6.40||-0.37% |
|Crude Oil||98.67||-1.05||-1.05% |
|NYSE Overall Volume||7,503,770K||n/a||-1.14%|
|Nasdaq Overall Volume||1,771,014K||n/a||-17.31%|
|NYSE Breadth||4.11 : 1||negative|
|Nasdaq Breadth||3.32 : 1||negative|
|NYSE Breadth Ratio||19.58|
|Nasdaq Breadth Ratio||23.14|
| Market Profile and Pivot Points for ES and NQ for Monday || || |
| How to put value areas and breadth bubbles on your charts - click here ||ES ||NQ |
| Value Area High ||1338.50 ||2546.25 |
| Point of Control ||1336.00 ||2541.75 |
| Value Area Low ||1335.50 ||2538.00 |
Pivot points provided by Prodigio RTS. For more information contact: firstname.lastname@example.org
ShadowTrader Sector Trend Scores
The ShadowTrader Sector Trend Score matrix is a proprietary method of assigning values to twenty five sectors that are a representative cross-section of the market as a whole. The heat map in the trend score column defines the current strength or weakness of that sector using a proprietary weighting formula. Sectors bolded in green and red are the two sectors that experienced the largest absolute gain and loss in trend score over the prior day. We strongly urge subscribers to read the full explanation of the meaning and calculation of the trend scores in the Swing Trader User's Guide.
All 25 ShadowTrader Sectors traded lower on Friday. Three of them have closed lower for the last five consecutive days including $DJUSIT, $DJUSRE, and $DJUSRR. Two others, OSX and BTK, have ended lower the last four days. Another broad based day lower will bring major U.S. indices close to "oversold" by our measure.
Up and coming economic and corporate data that may move markets this week: Today - 02/13/2012
No economic news currently scheduled.
Reporting earnings today: CEG,
Wednesday - 02/15/2012
08:30 am EST - Retail Sales
08:30 am EST - Import and Export Prices
10:00 am EST - Business Inventories
Reporting earnings today: ACC,
08:30 am EST - Empire State Mfg Survey
09:00 am EST - Treasury International Capital
09.15 am EST - Industiral Production
10:00 am EST - Housing Market Index
10:30 am EST - EIA Petroleum Status Report
02:00 pm EST - FOMC Minutes
Reporting earnings today: A,
Bulls and Bears
This section is for self-directed traders and investors who like to "do it themselves". Every trading day, Bulls and Bears will list long and short equity setups with defined entries and stops. Note: A listing in this section does NOT necessarily mean that the stock will end up as a part of the ShadowTraderPro Model Portfolio. Plays listed here change daily and are not managed or tracked by ShadowTrader unless traded via MyTrade posting.
| Symbol ||Trigger Price ||Stop Price ||Notes |
|JOY ||82.30-81.90 ||78.76 ||Please see
ShadowTrader Weekend Update |
|CTSH ||66.50-66.00 ||64.50 ||Coming into trendline from 08/11 lows |
|ISRG ||495.75 ||485.00 ||Consolidation breakout play |
| Symbol ||Trigger Price ||Stop Price ||Notes|
|EMN ||55.21-55.51 ||57.04 ||Relisted - Please see
Monday's Looking Ahead section |
|MSFT ||31.43-31.73 ||32.50 ||Relisted - Potential triple top at 1 year highs |
|TRMB ||52.25-52.75 ||54.05 ||Approaching 52 week highs |
ShadowTrader Model Portfolio
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