The Bounce

The market bounced as anticipated. Before it did, the market put in another triple digit down day for the DJIA on Monday to lure more shorts into the market before it heads back up toward potential resistance level. One can call this rally the “dead cat bounce”, “oversold rally”, or “end of the quarter window dressing rally”. In regardless what label to use for this bounce, the real question is where will this market go from here?

The Bias

Here is the mystery chart (see below) I have posted on Sunday. If I have stated the chart belongs to AAPL, most people would have given the outcome based on what they like to see but not what could likely occur.

Stocks On The Watch

Here are some stocks that might have some interesting price movement for the coming week.

The Head Fake

After the market rallied on Tuesday and took out the June 10, 2013 pivot high, the market accelerated downward when the FOMC made its announcement on Wednesday. This abrupt market reversal should not be a complete surprise to all market participants since the advance/decline line and the new high/new low indicators were alerting us to remain cautious and beware of  head fake("The Market Decision").

The Market Decision

Today, the market appears to have decided to resume back toward the new high territory. Getting to the new high territory is a wait and see matter at this time. But at least the Russell 2000 has pointed the way by closing with a new all time high today(without the notice from those talking heads).
 

Golden Moment Again?

From the recent price actions in gold, silver and some of the mining stocks, it appears the precious metals might be setting up for a bounce after the recent turbulent drop.

Here is a video reviewing the recent price actions and some of the possible upside price targets and breakout levels.

At The Crossroad

The market is at the crossroad once again. One move from the market and it will propel into another new high or it will dip below the recent pivot support to begin an extended downward move.

As stated previously, the June 10, 2013 intraday high from the DJIA, the SP500, the Nasdaq 100, and the Russell 2000 are the pivot levels the market needs to penetrate in order to resume its uptrend. If the market failed to move above the June 10 high and dip below the June 6, 2013 intraday low for the DJIA the SP500, the Nasdaq 100, and the Russell 2000, then the market will likely be headed down to a level that will likely exceed the typical 5-8% correction. The dip below June 6, 2013 low will affirm the new all time high of 15,409.39 made by DJIA on May 28, 2013 is the market top as measured by the DJIA and by the Dow Theory non-confirmation by the DJT.

(click on the chart to get an enlarge view)

SP500:



DJIA:



DJT:



Nasdaq 100:



Russell 2000:

Directional Move For NFLX

NFLX finally broken out of the developing wedge pattern, and it could be heading down to fill the gap made between 4/22/2013 and 4/23/2013. Before it gets there, it will likely encounter some support levels. In this video, we will look at some of those possible support levels for NFLX.

Click here to view the video if you do not see a video player on your screen.

Stock Market Review - 6/10/2013

Today the market finished nearly little change from previous session. The SP500 closed at 1642.81 with a loss of 0.57, the DJIA closed at 15,238.60, -9.50, Nasdaq 100 loss 0.38 with a close of 2990.49, and finally the Russell 2000 closed with a small gain of 5.05 at 992.67.

Click here to view the video if you do not see a video player on your screen.

AAPL & LULU - 6/9/2013

With the annual WWDC next week, AAPL is bound to experience additional volatility as the market anticipate the company to make some new product announcements. After the market closed tomorrow, LULU will be reporting its earnings. The market will find out then how much an impact the see through fabric mishap has impacted LULU's earnings.

Here is a video on where the market might be moving these stock prices in anticipating the respective company's event.

Click here to view the video if you do not see a video player on your screen.


Disclosure: No position.

The Market Bounced Back

The market closed the week with a gain after a few days of triple digits loss for the DJIA. On Thursday when the SP500 came down to the widely watched support level near 1598, it behaves like clockwork and bounced of this support level. The market continues to move higher on Friday and closed the week with a gain near the high of the day at 1643.38. Similarly for the DJIA, after two consecutive down week, it also closed the week with a gain at 15,248.10, the Nasdaq 100 closed up for the week at 2990.87, and the Russell 2000 closed at 987.62, up for the week.

TSLA Update - 6/6/2013

An update review of TSLA.

Click here to view the video if you do not see a video player on your screen.

Stock Market Review - 6/6/2013

Here is a quick look at what the market did and where it might be headed.

Click here to view the video if you do not see a video player on your screen.

Uncharacteristic!

The DJIA was up since today's opening while the SP500, Nasdaq 100, Russell 2000 and the DJT all were negative. By the end of the trading session, the DJIA closed with a gain of 138.40, SP500 plus 9.68, Nasdaq 100 a gain of 9.03, the Russell 2000 plus 6.387, and the DJT closed with a loss of 1.91. These gains and loss are no big deal. But what is the big deal is the uncharacteristic of the market breadth indicator

TSLA Review - 6/2/2013

Here is a look at TSLA and potential price levels to monitor.

Click here to view the video if you do not see a video player on your screen.

AAPL & NFLX Review - 6/2/2013

A video review for AAPL & NFLX.

Fatigue Market

The market continues to show signs of fatigue. After the big run up on the first trading session of the week, all the major market indices ended the week with a loss.

On Friday, selling picked up in the last hour and an half of trading. There were talks the last minute selling is due to end of the month rebalancing. But whether it is rebalancing, the talk of end of QE-infinity, the selloff in