Good evening StockBandits!
The NAZ made it 10 straight today, so it hasn’t posted a decline now in 2 full weeks. That’s impressive, but elsewhere today we saw the indexes begin to edge higher after some Monday hesitation. It wasn’t a powerful move, but more of a first-gear type of advance where price is beginning to get going, yet has plenty of opportunity to speed up.
Today’s price action was anything but smooth, as there was quite a bit of chop for the first half of the session. The S&P had rallied to a new high mid-morning, but just an hour later pulled back all the way to test the flat line. From there, we did see a slow grind back up to end the day in the green, giving the bulls reason to smile.
My bullish watch list expanded today, although much of it is comprised of stocks in commodity sectors. I’m eyeing a handful of new trades for tomorrow, including a pair of new swing candidates.
Let’s get to the charts.
Bullish Watch (click for charts)
Bearish Watch (click for charts)
Trade Like A Bandit!
Jeff
