Good evening StockBandits!
The bulls jumped out to the early lead today for this holiday-shortened week, sending the indexes climbing higher with solid advances across the board. A relatively flat open was followed by a clean morning uptrend, and as the day progressed the indexes simply added a few more points while primarily preserving the early gains. In the end, each finished near their session highs.
Today’s move puts the S&P 500 right at key short-term resistance at 1150, while the NAZ ended just a few points shy of its January high, still range-bound. Obviously it wouldn’t take much to produce a breakout from here, especially with the bulls in the driver’s seat across all timeframes. It’s follow through that’s most important though, so if we do see new highs established tomorrow, they key will be whether or not it invites more buying. Many stocks are in solid uptrends but still deserving of rest, so despite the widespread strength, selectivity still plays a role for us as traders.
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: H, PDS, PNC, GNW, ONXX, IVN, ANF, SYNA
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
SYK, V, H, F, DRWI, SWK, BUCY, HUN, JAH, PNC, PXP, GNW, AVB, ZION, HIG, ONXX, MEE, GLD, IVN, AXL, TEX, PDS, HAL, PCX
Bearish Watch:
ANF, SYNA, NFLX, FMX, TUP, IOC
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.
