Chronology Of The Turning Point

If you have been following me and my blog, you already know what have transpired prior to reaching the September 19, 2014 turning point. For those that might not have been following my blog or wish to get a recap, here it is (To read the complete post of each event, click on the embedded link.)

The Turning Point

The market will not top until the DJIA has topped and the DJIA appears to have topped on September 19, 2014.

Shhh…Listen

Do you hear anything? Exactly! There wasn’t much fanfare as the DJIA made another all time closing high.

Slightly Different

The DJIA made another new all time closing high today by closing at 17,265.99. Today’s record close is slightly different than yesterday’s record close for the DJIA. The difference is the SP500 also close with a new all time high along with the DJT. In addition, the Nasdaq 100 also closed with a new multi-years high. The market breadth was pretty much the same, marginally positive but still relatively weak.

Into The Record Book

Today the Dow Jones Industrial Average, DJIA, finally put itself into the record book by closing with a new all time closing high. It closed at 17,156.85, surpassed its previous closing high of 17,138.20. Although today’s record high was not accompanied by a record close from the SP500, the Nasdaq 100 or the Russell 2000, but the Dow Jones Transportation did close with another new all time closing high.

What Would It Look Like

Can you imagine how this chart would look if the DJIA was able to close with a new all time closing high today? And what it might mean?

Something Different

This has not been seen for quite some time that the DJIA closed with a gain while all the other indices closed with a loss. This is something different for this market cycle. Remember I have said it numerous times that the market does not top until the DJIA has topped. Could this be the beginning of that final move on making a top? Only time will tell.

Patience

Here is an updated look at all the charts I have posted on Twitter during the past week. Some of the stocks are still waiting to be triggered. It just to show trading is more about exercising patience and waiting for the trade to come to you.

Early Look

Here are some stocks from a recent long scan that might present potential swing long opportunities. For those aggressive traders, you can tap into the possibility of scaling in off support. And for those traders that are more accustomed to the classical breakout pattern, watch the pattern for entry trigger.

Keep It Real

The market continues to frustrate those that been calling for a 10-20% correction and scare those weak players as the market plays the game of taking one step back and two steps forward. The SP500 continues to chop into all time high, and the DJIA continues to tease and refuse to enter into the record book.

Don’t Kid Ourselves

One of the most difficult emotion to control as a trader is our ego. Our ego has the tendency to subconsciously instill a bias on what we want to see instead of accepting what we see in front of us. In trading, this bias can cause us to believe the market should do what we believe it should do. When we are in this mindset, we tend to hold on to a trade that went against us or we try to force a trade when it is not there. These behaviors usually end up badly and cause great damage to a trader’s capital account. Worse yet, it can devastate the trader’s confidence. To avoid falling into this mental trap, a trader needs to remind him/herself with these two clichés; “Trade what you see!” and “Trade what is in front of you!”

Stock Chart Updates - 9/3/2014

In this post, I will present an update on some of the charts I have recently posted on my twitter page. If you wish to follow my live commentary and postings on twitter during NYSE trading hours, then follow me on twitter @smtraderCA

How High Can It Go

As the SP500 continues to make new all time high, one must question how high can it go? In this video we will review the market indices and a review on some MOMO stocks such as: AAPL, NFLX, AMZN, GOOGL & TSLA. In addition, a review on some biotech stocks for possible trade ideas: CELG, GILD, PCYC & HZNP.

Swing Trade Ideas - 8/30/2014

Thanks to couple of my followers for a few great swing trade ideas. Here is a look at those ideas: STT, FANG & WFM. In additional, a brief update on TWTR & FB.

Don’t Get Carry Away

The SP500 continues to recover from its August 7 low and has gained over 4% off that low. From the recent rebound, it also made a new all time high along with a new closing high last Thursday, August 21.

Trading Perspectives - EBAY

In this video, we will take a look at the recent trade I made on EBAY and other aspects of trading.

Take 2

The SP500 attempted to put in a new all time closing high yesterday. It was above the previous closing high of 1987.98 until it backed off near the close and ended at 1986.51, less than one and a half point from a new all time closing high. The Nasdaq 100 continues to make new multi-year high, it is at a level that was last seen in September 2000. In this brief video, we will take a look at the SP500 and the Nasdaq 100 to see what we can expect in the coming days in event of a possible minor pull back and the continuation on putting in a new record high for the SP500.

What’s Next?

Just in case you have not heard, Apple stock price reclaimed the 100 mark and closed today at 100.56. What is a big deal you might ask? It depends on your perspective. But the more important question a trader should ask is “What’s next?”

Here We Go Again!

In technical analysis, one look at patterns and price actions that have occurred in the past for clues on how the price might react when a similar pattern or price action appears in the future. It is the belief that similar price pattern will result in similar reaction due to human nature does not change. We human react to similar situation in a similar manner as we had in the past.

Trend Remains To Be UP

As the month of August reached the half way point, the statistically to be one of the worst month of the year is up so far as measured by the SP500. Even the worrisome small cap index, the Russell 2000 is up for the month. Of course, there’s still half a month to go and anything can happen between now to the end of the month.

What? No Charts!

Sorry, no charts on this piece. Instead, I am just going to write something about our reaction to market moving events.

Consolidating Today's Charts - 8/15/2014

Here are the charts & tweets that were posted during today's trading session:

Golden Possibilities

Here are some swing long possibilities for the gold & gold miners ETF, GLD, DGDX, GDXJ.

Was That It?

Was August 7, 2014 the day the SP500 put in an intermediate low for the recent market pullback (some call it a correction). Take a look at the following chart with couple market breadth indicators on it. The advance/decline and the new-high/new-low show a slight positive divergence as the SP500 made a new low on 8/7/2014.

New High Territory

Let's take a look at some possibilities for AAPL, SPY and QQQ to make a new high.

Murky Picture

As any seasoned technician will tell you, technical analysis is more of an art than science and it is more subjective than objective. For these reasons, a technician will look for confluence from various technical perspectives in an attempt to form a highly probable conclusion on potential price movement. Note the key word “probable”, because there is always a degree of uncertainty in any form of analysis, whether it is technical or fundamental.

Trading Scenarios - 8/10/2014

Here are some possible swing long trading scenarios for WLT, BLK and COH.

Trade Analysis For SCTY & FB

Here are couple videos posted this weekend on Twitter. One is reviewing the post earnings price action on SCTY, and the other video is on a possible swing long trade setup for FB.

SPY Before The Open - 8//8/2014

Here is a short video looking at the SPY before the US market open for trading.
Click here to view the video.

Market Outlook - 8/5/2014

Here is a brief look at the market and some levels to watch for the coming days.

Potential Bounce Levels

Here are some possible price levels for a short term bounce for the market index ETF: SPY, DIA, QQQ and IWM.

Potential Bounce

A look at potential bounce from AAPL, NFLX, AMZN & GOOGL for a quick trade and some possible threshold to watch for swing long.

Nothing Has Changed

There is really not much has changed in the market since the last video on the SP500. It appears the market still in a pullback phase. This pullback is not much different than the one in the beginning of 2014. Yes, there are deteriorations within the market breadth. This is an indication of a weakening market, but not necessary an indication of a new bear market(yet). Until a top has been made and confirmed, no one knows the market has topped. In the meantime, wait until major support levels have been tested and broken before categorizing this pullback as a major correction. Continue to be patient and be defensive. Be mindful cash is a position.

Where To SP500

Now that the market has retreated in a somewhat dramatic fashion, many traders are wondering is this the big correction that most traders been waiting for and how deep will this drop be. Rather than spend the time to guess if this is the big one or not, let spend some time on where the market might find support if this down draft continues. In this video, we will look at some possible levels that the SP500 might be headed.

Consolidating Today's Charts - 7/31/2014

Here are the charts I have posted on Twitter today during trading hours. Please refer to this post for suggestions on how to view my charts & tweets on Twitter.

Consolidating Today's Charts - 7/30/2014

Here are the charts I have posted during the trading hours today on Twitter.

Sympathy Play

There are a few times when one stock from the same sector can be played off another stock. One of those times is earnings reporting period, and another is consolidation buyout (merger).

Once Again

The market stalled as the end of the trading week was near. As in recent past, any minor dip the market experiencing bring out those anxious top callers and those sidelined dip buyers predicting a market top and a 10%-20% correction respectively. I’m sure one day, these predictors will be correct. But since I am a market watcher rather than a market timer, I will simply continue to watch what the market is doing and what message it is sending, and continue to move along with the market instead of trying to anticipate its move. As I have said many times, if in doubt, move to the sideline, cash is a position. The worse thing to do is to anticipate the market downward move and short the market at this juncture. Surely if one guesses correctly, one will be a hero, but if one is incorrect and the market snapped back viciously, then surely great damage could result in one’s trading account and/or psyche.

Let’s take a look at the market indices and see what we should be watching for the coming week.

More MOMO Earnings To Come

Next week we will see more momo stocks report their earnings. In this video, we will look at the following stocks that are scheduled for ER: PCYC, TWTR, YELP, LNKD & TSLA.

Take Your Pick

Here are three simple technical analysis perspectives on projecting AAPL stock price to possibly surpass the 100 level.

Stock Watch (Something For Everyone) - 7/20/2014

Here are some stocks & ETF that might be of some interest to keep an eye on for the coming week:
DIS, KO, MMM, TRV, XOM, XLB, XLP, XLY, XME, LOW PCYC, TXN, JDSU, NTAP and HOT.

MOMO Earnings Parade

Next week some big cap MOMO stocks are scheduled to report their quarterly earnings. In this video, we will look at the projected price levels on earnings for NFLX, AAPL, FB & AMZN.

Continue To Punish

The longer the market hangs around the new high territory, the more frustration it creates to those anxious traders standing near the exit. As soon as a minor pull back come along, these anxieties turned into fears. After these fears are spilled over, the market resumes its upward trend and punishes those that have tried to gain an upper hand thinking they can outwit the market. It is no surprise that the market is overdue for any type of correction. But as long as most of the market participants expect a correction, the market will not abide by doing what the majority is expecting. As experience has taught us, the market will never do the expected and will not play off the obvious.

Expected & The Unexpected

Today the market was put into a frenzy once the news of a Malaysia Passenger Airliner was shot down over the Ukraine border. Although many traders were expecting a pullback of some sort, but most if not all of the traders did not expect the unexpected event occurred in Ukraine to drive this pullback into a sell off. Here is a look at today's price action and a look at some possible inflection point. In addition, we will look at potential long opportunities from these energy stocks: APA, CVX, EOG & WFT, and a brief look at AAPL, GOOGL and IBM.

Market Mover Earnings Watch

GOOGL & IBM are scheduled to report their earnings after the market close today. Their earnings report could move the market to newer high if the market react positively to their earnings result and their business outlook.

Shhhh...Listen

The DJIA continues to flirt with new all time high during the last trading session. The DJT did close with another new all time high and the Nasdaq 100 made another new multi-year high. While the SP500 trying to get back to new high territory, the Russell 2000 is making an effort to catch up. As this mixed performance from the market persist near new high territory, jitter and paranoia elevate amongst the traders. But for the market watchers, the message emanate from the market is newer closing high is forth coming for the DJIA. As always, the market only send message to inform us its intention, but never send out message to inform us when and how it will achieve what it intended to do.

As the DJIA work its way into another new closing all time high, here are some stocks in the DJIA index that might help propel the index into a new closing all time high.

Tech Earnings & MOMO Stocks Watch

Here is a look at some of the tech stocks scheduled to report earnings next week along with a look at some of the MOMO stocks.

Earnings Watch For The Financial

Some notable financial stocks are schedule to report their quarterly earnings next week. Here is a look at where the market is pricing these stocks to move based on their earnings report.

Another Shakeout

After the post 4th of July consecutive all time high performance, we were alerted to the possibility that the market was ready for a pullback. Furthermore, based on the market breadth we were also made aware this pullback will not be the 10% type of correction many talking heads have been waiting for.

Stay With Your Plan

Last week, the market has been making consecutive new high and one should not be surprise to see a pullback after last week’s performance. Although the market is long overdue for a typical correction in the range of 8-10%, but it doesn't seem likely to happen soon. When a pullback does appear, expect it to be shallow(shadow) and brief. Furthermore, expect to hear those market top callers telling us the market has topped. But as any experienced market watcher would tell you, the recent market behavior is nothing near a market top. This does not mean a top might not be near, but the recent market high is not a top.

MOMO Stocks & More

In this video we will take a look at these MOMO stocks: AAPL, NFLX, FB, AMZN, TWTR, TSLA, GOOGL & LNKD. In addition, a follow up on some recently mentioned stocks and a look at some stocks that could be setting up to make a move up in the coming week: CREE, WLT, ANR, JPM, GS, BAC, EBAY & TGT.

Market And The Casino

The market continues to make new high and different sectors are being awaken. In this video, we will take a look at the market along with these casino stocks: MGM, LVS, WYNN, BYI & IGT.

Market Could Be High On Drug

The market continues to rotate as it grinds higher, and it appears to be rotating back to some of the recent battered biotech and big pharma stocks. Here are some of these stocks that are showing sign they are setting up to move higher.

Consolidating Today's Charts - 7/2/2014

Here are the charts I have posted during today's trading session.

Stock Watch - 6/29/2014

Here are some stocks to watch for possible swing long in the coming week: HIMX, ONNN, AZO, ORLY, GES, TIF, JCP, MCD, GTAT, CREE, GRPN, ZNGA & ANGI.

Referrals

Here are few stocks that were recently referred to me by a fellow trader @Thundersforever: VVUS, LIVE & PPC. They exhibit possible swing long setup that could be set in motion in the coming days.

MOMO Stocks Outlook - 6/28/2014

In this video, we will take a look at these MOMO stocks: AAPL, NFLX, FB, AMZN, TWTR, TSLA, GOOGL & LNKD.

Not Much Has Changed

The market continues to frustrate those that are looking for that elusive 10% pullback. Whenever the market does a pullback to shake some of the weak longs, the talking heads come out and calling the beginning of their long awaited 10% correction. I'm sure one day they will get it right when those that are market watchers have sensed the top has been made and starting their exit. In the meantime, not much has changed. The market continues to present many good setup, but one must not forget to trade defensively and manage the risk.

Quick Glance At The Market

A look at the indices to see where might be the next level of resistance and support.

Consolidating Today's Charts

For those that might have missed some of the charts I have posted on twitter throughout the day, here is a recap. You can also see my tweets in the window on the right.

Another Pullback

Here we are again, in the midst of another pullback. In this video we will review today's price actions and review some of the stocks in our watch list and some new additions to monitor for future price move.

Stocks & Market Watch - 6/22/2014

Here is a look at some of the stocks that might be on the move in the coming days, and a review of the market.

Worth Mentioning

Here are some additional stocks that are worth a mentioning of possible upside.

Stock Watch - 6/20/2014

Here are some stocks to watch for the coming days: BBRY, GOOGL, AOL, KBH, TOL, PHM.

BBRY Earnings Watch

Updated note: I was reminded BBRY earnings report is due tomorrow morning before the market open. I will attempt to close my remaining position in pre-market. (mental error!)


Tomorrow after the market close, BBRY will report its quarterly earnings. The recent price actions suggest it might move to the upside. But with any news driven event, price movement could be volatile; especially on earnings report.

Mixed Bag Day

Today the market chopped around a few times throughout the day. When the close came, the market ends up closing on a slightly up tick. Here is a look at the market and some of the MOMO stocks, and the stocks that were mentioned in the weekend 'stock watch' video.

Stock Watch - 6/15/2014

Here are some stocks that could present some swing long opportunities in the coming week. BRCD, P CHKP VJET, XONE, XLNX, CREE, MGM, AMGN.

After A Spooky Day

Tomorrow is Friday the 13th and also weekly OpEx day. Here is a look at some price levels for the SPY, AAPL, and NFLX after a spooky day. In addition, a look at FSLR for a possible long trade.

Stock Watch - 6/11/2014

Here are some stocks that could be setting up for possible swing long.

Stock Watch - 6/10/2014

Here is a brief look at the market and some stocks.

MOMO Stocks Update - 6/8/2014

A brief update on AAPL, NFLX, AMZN, FB, GOOGL, TSLA, TWTR along with BBRY and JCP.

How Did We Get Here

Last week, the market shifted back into gear and put up consecutive new all time high for the DJIA, DJT, and the SP500, while the Nasdaq 100 put up consecutive new multi-year high. Although the Russell 2000 failed to put up any new high, it did reverse its recent downtrend by putting up a higher high and higher low price pattern. The market breadth also show some improvement with the advance/decline rising and the new high/new low expanding. Does this mean the market is back on a long term uptrend? Before trying to answer that question, let’s first look back to see how we got here.

A Follow Up

The video I have posted on the Memorial Day weekend sort of gave us some ideas on what to look for from the recent market move, and here is a follow up on that video.

Staying With The Trend

This week the market gave us some clarity on the direction it is intend to move in the near term, and that direction is up.

Quick Glance Before The Open - 6/6/2014

Today is job report and weekly OpEx day. Furthermore, after today AAPL will split 7-for-1. If AAPL pin is near 650 that will put the post split price at the low 90s which makes it much more psychologically attractive to new retail AAPL buyers.

Today's Observations - 6/5/2014

Here are some of my observations tweeted on twitter today. You can follow me on twitter by clicking the twitter follow button.

A Ho-Hum Day

After a dip & recover day on Monday, today the SPY, DIA & QQQ printed an inside narrow bar candle. The IWM again was the weakest with a long spinning top candle. All in all, no major damage to the indices, and mostly it was a boring, ho-hum day. This could be the quiet before the storm.

Don’t Get Emotional

Look at the following charts for the SPY, DIA, QQQ and the IWM. All of them printed a hangman type candle today except the IWM.

Preparing For Possible Pullback

After a strong up move last week, a pullback is not out of the question for the coming week. There are many major news driven events next week that can cause volatility to increase. There is the widely watched job report on Friday, the ECB rate decision on Thursday, and AAPL WWDC starting on Monday.

Fear Is Notching Up

The fear meter goes up a notch every time the market moves higher. There are fears from those believing they will miss this move if they don’t get on board now and from those that fear how badly this will end.

MOMO Stock Update

Here is an updated review for the following MOMO stocks: AAPL, NFLX, GOOGL, AMZN, FB, TWTR, CELG & TSLA.

Changing Move

The market is making another surge to new high territory. While the SP500 and the Dow Jones Transportation made a new all time high last Friday, the Dow Jones Industrial is still some distance away from its previous all time high. Currently, the large cap market such as the SP500 is getting near the neutral area and the small cap still leaning on the bearish zone.

The State Of The Market(s)

After the SP500 made a new all time closing high at 1897.45 with a small shooting star candle and followed with the formation of an even star candle pattern, it finished the week nearly unchanged with an inside bar candle. The key support level for the SP500 to hold is 1848.38. If it continues its rebound that started in the last two hours of trading on Friday, then the resistance it needs to overcome is 1897.45.

Trade Preparation

In order to avoid reacting to price movement during the trading session and prevent us from making impulsive trade, we need to be prepared with various trading parameters and/or patterns to watch for initiating potential trade.

Another Trade Setup - 5/14/2014

Here is another day trade on NFLX using a slightly different candlestick pattern.

Trading Lesson - 5/13/2014

Here is a video describing one of the candle stick pattern I use for day trading. In this video, the trade on IWM and NFLX based on this setup are discussed.

Stock Watch - 5/11/2014

Monitoring for possible short term bounce off recent support from these stocks: AAPL, NFLX, GOOGL, AMZN, FB, TWTR & TSLA. These bounce might or might not lead to a sustainable trend. Until the respective pivot level is broken, one should remain cautious.

Stock Market Outlook - 5/11/2014

The market continues to send out mixed messages. The DJIA closed at a new all time high on Friday, while all the other major market indices failed to follow. Lot of debates around the divergence between the large cap/value stocks and the small cap/growth stocks. Until the market send us a clear signal on its direction, it would be prudent to keep our positions light and tight. Again, cash is a position and the sideline might not be a bad place to be while we wait for the message from the market.

MOMO Stocks & Index ETF Review - 5/7/2014

A brief look at the price actions for the SPY, IWM, QQQ, AAPL, NFLX, GOOGL, AMZN, FB, TWTR, TSLA & FEYE.

Thread Carefully

If you believe the large cap & value stocks lead the market because this time it is different, then the tech and small cap stocks in the Nasdaq and in the Russell 2000 look to be a bargin. Otherwise, thread carefully in the value space. Eventually, there is no place to hide. Take a look at the following weekly charts.

Three To Watch

Here are three stocks worth watching for possible swing long.

Multiple Time Frame TA Review On AAPL - 5/3/2014

In this video, a technical analysis review on AAPL will be presented. We will look at some possible price targets and near term setups for possible swing long entry.

Market Continues To Diverge

The market continues to split between the large cap/value stocks and the small cap/growth stocks. Although the Russell 2000 show a mimic of relative strength today, but don’t let this deceive you. Here is the chart of the NYSE advance/decline vs. the SP500.

What Does This Mean?

For those that have been following me either on Twitter, YouTube or on my blog, you have read and/or heard from me that the market will not top out until the DJIA has topped. Today, the DJIA finally closed at a new all time high of 16,580.84. Does this mean the market has topped?

Back To Trading - 4/29/2014

Now these high beta stocks such as AAPL, NFLX, AMZN, FB, TWTR have reported their earnings, one can start looking for trade setup once again. Here is a look at the price actions and possible price level to monitor.

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

Stocks On The Watch - 4/27/2014

The market continues to retreat while the earnings report from those notable tech stocks and social media stocks continue to be released. So far, the only stock that popped to the upside after its earnings report is AAPL with most others just bounce and then sold off. Next week, there are more high beta stocks and social media stocks scheduled to release their earnings, and looking at their price actions the outcome might be just the same no matter what the earnings result will be reported. It is hard to change a prevailing market sentiment after it has changed. This revised downward earnings reporting quarter is definitely not the catalyst that will change the current sentiment, it appears to reinforce it.

Market Outlook - 4/26/2014

The market continues to chop around with a general tone toward the negative end. The high flyers in the Nasdaq and the Russell 2000 are being clobbered while the value stocks window is closing. Unless some catalyst come along to change the current sentiment, this current downtrend could accelerate.

Post Earnings Review - 4/24/2014

A post earnings review on AAPL, NFLX, FB & AMZN along with a review of the market & TWTR.

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

AAPL Announced More Than A Blow Out Earnings!

The long awaited earnings report from AAPL finally arrived. Not only did AAPL delivered a blowout EPS and revenue due to strong IPhone sales, but a surprise announcement of a 7 for 1 stock split, increase in dividend, and an additional $30B of stock buyback lifted the stock price more than 8% during after hour trading.

Earnings, Earnings

Two widely watched stocks are scheduled to report their quarterly earnings after the market close tomorrow, AAPL & FB. An update on the price levels where the market is pricing in for these stocks is presented in this video along with an update on the market and post earnings review on NFLX.

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