Good evening StockBandits!
A weak start this morning left traders considering doing some profit-taking, which they ultimately did. The NAZ gave up 1.3%, while the S&P 500 lost 1% on the session, shaking up the charts a bit in the process and reminding the Street that selling is still a possibility in what has been a one-way market.
Today’s decline didn’t do any technical damage, and in the case of the NAZ, actually filled most of the gap from January 4th before a minor bounce from the lows kicked in. Rising trend lines aren’t too far below for the S&P 500 and DJIA, so let’s see if the bulls are able to protect them in the days ahead.
Please leave your comments and/or questions below if you have any, I always enjoy the interaction.
Here is tonight’s video:
The Bandit Broadcast Video – Click to Watch!
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Video Stocks Discussed: DOW, AEIS, TIF, ESI, MGA, AXP, NFLX, FAF
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
ESI, DF, DOW, MGA, AXP, STEC, AEIS, TIF
Bearish Watch:
NFLX, FAF, RIMM, GYMB
The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.
