Stock Picks Recap for 2/29/12

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
Nothing triggered off of the report.
In the Messenger, Rich's AAPL triggered short (with markets support) and worked:

SINA triggered short (with market support) and worked:

Rich's YOKU triggered short (with market support) and worked:

In total, that's 3 trades triggering with market support, all 3 of them worked.


Stock Picks Recap for 2/29/12

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
Nothing triggered off of the report.
In the Messenger, Rich's AAPL triggered short (with markets support) and worked:

SINA triggered short (with market support) and worked:

Rich's YOKU triggered short (with market support) and worked:

In total, that's 3 trades triggering with market support, all 3 of them worked.


Tradesight.com Market Preview for 3/1/12

The ES posted a very sloppy outside day down. Though the futures were only down by 7 on the day, the chart pattern has a potential reversal candle in place. The candle was small but the turn came just below the Murrey math 8/8 level of 1375.The next 48 hours of trading will be very important to see if this turn follows through to the downside. The early indication of a change in trend will come on a settlement below the 10ema (blue MA on chart) which hasn’t happened since 2011.

The NQ futures were weak but didn’t breech yesterday’s low. AAPL continues to be driving the bus and if it breaks the Naz futures and other high beta stocks will break.

The 10-day Trin still has some room before recording an overbought reading of 0.85 or less.

Multi sector daily chart:

In the multicomparison chart below the important NDX100 continues to have relative strength vs. the SPX.

The put/call ratio remains neutral:

The BKX was the best of the major sectors on the day though it was lower on the day. Keep in mind that there is an active Seeker sell signal that hasn’t released its energy yet.

The BTK is hovering just above last week’s low and has relative weakness vs. all the important averages. Continue to monitor this sector for short setups.

The OSX has bearishly closed below the 10ema. Keep a close eye on a fallback to the triangle breakout.

The SOX has an active Seeker sell signal in place is starting to trace out a head and shoulder pattern.

The XAU was by far the weakest sector on the day after the very sharp break in gold. Next important support is the 50dma at about 192.50.

Gold has a huge decline after recording a Seeker sell signal last week. Support will first be found in the area were the 50dma, 200dma and 4/8 Gann level converge.

Silver collapsed after only yesterday flashing a Seeker sell signal. Note the volume spike in the SLV etf. Real support lies around 31.25 where the 4/8 level and 50dma sit.

Oil:


Forex Calls Recap for 2/29/12

Here's something unusual: neither of our trades triggered. The GBPUSD went up and the EURUSD went down, but our calls were in the opposing directions on each, which was probably a good thing as the overnight session was jumpy but flat, and it seems unlikely that anything would have worked. We finally got a spike when the Fed Chairman started his testimony to Congress. Here's the US Dollar Index intraday with market directional:

New calls and Chat tonight. Lot of data overnight, including unemployment out of Europe, but none of it is our Big Three. No reviews of any of the pairs below since nothing triggered, although there was a nice breakout formation on GBPJPY over R1 that anyone that has taken our courses should have caught.


AGO Seeker Sell Signal Trade

Tuesday our Seeker tool flashed a sell signal for silver. This was the first sell signal since it correctly identified the top in August last year. A short was called and delivered via our messenger to alert traders to short triple leveraged AGQ<70.67 or the 1x SLV<35.47. The trade triggered and over the course of only about 60 minutes the AGQ moved $10 in our favor.
Here is a 15 minute chart of the AGQ with the trade trigger and subsequent price action:

Below is a look at the daily chart showing the Seeker sell signal generated Tuesday for the AGQ. The candle with the red number 13 and red arrow is the sell signal that alerted us that the trend was ready to change from bullish to bearish:


Tradesight.com Market Prevew for 2/29/12

The ES is marching closer and closer to the key 1375 level. Up 4 handles on the day in a very grinding advance the futures are about to interact with the very powerful 8/8 level. Tuesday was a new high on the move.

The NQ futures were relatively strong vs. the ES posting triple the percentage advance. This is good relative strength but it is mostly coming from over weighted index gorilla AAPL. If at some point AAPL breaks, the NDX will get the stuffing pulled out of it. Money will flow out of the NQ faster than an Italian captain can abandon ship.

The 10-day NYSE Trin remains neutral:

Multi sector daily chart shows that the SOX is trying to make a move--more on this below.

The SPX/NDX cross bullishly made a new high on the move.

The OSX continues to bearishly lag crude futures. If this persists it will hold crude back and eventually reverse the futures.

The defensive XAU was the top gun on the day. It remains rangebound but is but now above all of the major moving averages. If the XAU reclaims its relative strength vs. the broad market then the overall equity bull trend is getting close to done.

The SOX was higher on the day and outperformed the NDX but it didn’t record a new high.

The BKX was higher on the day but in so doing will record a 13 Seeker exhaustion signal.

The BTK traded inside yesterday’s range and showed relative weakness. Be sure to have an alarm set for a break under last week’s low. Note how the MACD is rolling over.

The OSX also posted an inside day and underperformed the overall market. Price remains overbought and a close under the 10ma could get momentum rolling to the downside.

Oil futures are retreating and falling back to the breakout level.

Gold made a new high on the move and is getting very close to the Nov. highs. The Seeker pattern is now 12 days up but is at risk of recycling.

Silver has now recorded 13 days up in the daily Seeker count.


Stock Picks Recap for 2/28/12

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, NTES triggered long (with market support) and worked great:

SYNA triggered long (without market support due to opening five minutes) and worked:

In the Messenger, NFLX triggered long (with market support) and worked:

CELG triggered short (without market support) and didn't work:

We had 8 other trade calls in the Messenger, long and short, neither triggered.
In total, that's 2 trades triggering with market support, both of them worked.


Stock Picks Recap for 2/28/12

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, NTES triggered long (with market support) and worked great:

SYNA triggered long (without market support due to opening five minutes) and worked:

In the Messenger, NFLX triggered long (with market support) and worked:

CELG triggered short (without market support) and didn't work:

We had 8 other trade calls in the Messenger, long and short, neither triggered.
In total, that's 2 trades triggering with market support, both of them worked.


Forex Calls Recap for 2/28/12

Two winners (see EURUSD and EURJPY sections below) as the market again went mostly nowhere. Here's the US Dollar Index intraday with our market directional lines:

New calls and Chat tonight.
EURUSD:
Triggered long at A, hit first target at B, raised stop and stopped final piece at C:

EURJPY:
Put in a scalp idea as the UBreak red line had been hit four times over the last two days. Long over A, ran nicely:


Forex Calls Recap for 2/28/12

Two winners (see EURUSD and EURJPY sections below) as the market again went mostly nowhere. Here's the US Dollar Index intraday with our market directional lines:

New calls and Chat tonight.
EURUSD:
Triggered long at A, hit first target at B, raised stop and stopped final piece at C:

EURJPY:
Put in a scalp idea as the UBreak red line had been hit four times over the last two days. Long over A, ran nicely: