Blue-chip stocks (SPY) have moved up into a region of contegstion set in late January and early February. The exchange-traded fund is showing a macd bull signal for the first time in 17 trading days. The associated fear index, the VIX, is down slightly from Friday's close. A decline in the VIX generlly means a rise in SPY.
Treasury long bonds (TLT) have pulled back up from this morning's decline and are trading at the top of a three-trading-day range. It continues to show a macd bear signal.
High-yield corporate bonds (JNK) are trading at the top of the range set last week and have traversed 1.3% low to high in trading today. The macd is bearish, as it has been since mid-January.
Showing posts with label XLI. Show all posts
Showing posts with label XLI. Show all posts
Tuesday, February 16, 2010
Friday, January 15, 2010
1/15 Watchlist: The Blue Chip Bears
Blue chip stocks (SPY) are showing a bear signal and have dropped 1.3 percent from the opening price. The price has stalled at very near term resistance. This comes amid falling interest rates on 20- and 30-year Treasury bonds, and falling prices for gold and oil.
In terms of other technical analysis on the blue chips, the stochastic has crossed below the 80-line, a bearish signal. The macd remains in bullish territory. The price was approaching the upper Bollinger band, and the bands were widening, which can be taken as signaling continuation of the upward trend.
The blue chips have been in a strong upward trend since March. This signal is countertrend, and not a trade for me. Especially with so many mixed signals.
Here's what's interesting among high-volume . . .
In terms of other technical analysis on the blue chips, the stochastic has crossed below the 80-line, a bearish signal. The macd remains in bullish territory. The price was approaching the upper Bollinger band, and the bands were widening, which can be taken as signaling continuation of the upward trend.
The blue chips have been in a strong upward trend since March. This signal is countertrend, and not a trade for me. Especially with so many mixed signals.
Here's what's interesting among high-volume . . .
Tuesday, December 8, 2009
12/8 Watchlist
I've found one possibly decent trade, and that one ambiguous, after scanning all etfs and stocks with volume of 5,000,000 and up for pps signals, status of mfi confirmation by direction, and the trend.
The one possibility is AET, which showing a bull pps signal, confirmed by the direction of the mfi. True, the stock has been in a sideways trend since March, but the bull signal is coming at the top of a fluctuation cycle that has been running about a month measured peak to peak.
AET is not yet quit at resistance, and I want to see what happens. If the price breaks above 31.25, then it might be a trade a for me.
Here's the reject list, showing pps signals with status of mfi confirmation by direction and trend:
I also rejected the counter-trend retracements, since my present strategy is to trade with the larger trend.
In today's scan, I gave little thought to mfi confirmation. There was just so much not to like that the mfi became irrelevant.
HPQ has lost the bear signal it showed at the opening this morning and has barely budged during the day. So, no action appears necessary.
X is looking nicely bearish in line with my position.
UNG, at 0.46 above the strike of my 9.00 covered call, is showing a bull signal. For tomorrow I'll do calculation of when (if) it makes sense to sell the call and retain the shares rather than waiting for exercise.
KO, in bull mode with a sideways price, remains at the top of max profitability of my iron condor.
The indicators -- SPY, VIX, TLT, GLD, EUR/USD, USD/JPY -- remain as described in the Morningline.
The one possibility is AET, which showing a bull pps signal, confirmed by the direction of the mfi. True, the stock has been in a sideways trend since March, but the bull signal is coming at the top of a fluctuation cycle that has been running about a month measured peak to peak.
AET is not yet quit at resistance, and I want to see what happens. If the price breaks above 31.25, then it might be a trade a for me.
Here's the reject list, showing pps signals with status of mfi confirmation by direction and trend:
- SPY, bear, confirmed, sideways
- EEM, bear, unconfirmed, sideways
- MSFT, bear, confirmed, counter-up-trend retracement
- ORCL, bear, confirmed, sideways
- MRK, bear, confirmed, counter-up-trend retracement
- HD, bear, unconfirmed, sideways
- XLI, bear, confirmed, sideways
- ITUB, bear, unconfirmed, counter-up-trend retracement
- DIA, bear, confirmed, counter-up-trend retracement
- PG, bear, confirmed, counter-up-trend retracement
- XLP, bear, confirmed, counter-up-trend retracement
- VWO, bear, unconfirmed, counter-up-trend retracement
- TWX, bear, unconfirmed, counter-up-trend retracement on news
- BBD, bear, confirmed, counter-up-trend retracement
- XLK, bear, confirmed, counter-up-trend retracement
I also rejected the counter-trend retracements, since my present strategy is to trade with the larger trend.
In today's scan, I gave little thought to mfi confirmation. There was just so much not to like that the mfi became irrelevant.
HPQ has lost the bear signal it showed at the opening this morning and has barely budged during the day. So, no action appears necessary.
X is looking nicely bearish in line with my position.
UNG, at 0.46 above the strike of my 9.00 covered call, is showing a bull signal. For tomorrow I'll do calculation of when (if) it makes sense to sell the call and retain the shares rather than waiting for exercise.
KO, in bull mode with a sideways price, remains at the top of max profitability of my iron condor.
The indicators -- SPY, VIX, TLT, GLD, EUR/USD, USD/JPY -- remain as described in the Morningline.
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