Good evening StockBandits!
Stocks battled back from a weak start this morning, erasing an opening gap to the downside rather quickly. From there, the market staged as steady rally into mid-day, where things slowed down for the final few hours of the day. The indexes were able to add minor gains in the afternoon to their morning strength, going out right near their highs of the session.
Today’s move covered the losses we saw on Tuesday for the NAZ and S&P 500, reminding us that the buyers are still being aggressive on dips. The uptrends are still intact, and as of tonight the indexes are each either at new highs or just a short distance from them.
The pullback-and-rebound action of the past couple of sessions has made for some whippy trading intraday, but it’s been an essential pair of rest days for many stocks. That’s helping to build more bases on the charts tonight of individual stocks, so I’ll continue to keep a close eye on what’s setting up in the days ahead. I have a pair of swing trades on (see the Hit List), but heading into Thursday’s session am not looking to add more overnight exposure just yet. As the setups arrive which warrant new positions, I’ll certainly have them here.
I’ll cover my game plan for tomorrow in the video, and as always, feel free to share your own thoughts, trade ideas, and questions down below in the comments section.
Here is tonight’s video:
The Bandit Broadcast Video – Click to Watch!
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Video Stocks Discussed: STEC, ITMN, SCOK, MTW, SAFM
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
LVS, V, ATML, NTAP, APC, LEN, AG, ITMN, VSH, KBH, WLT, MTW, KKR, TSLA, MMR, BZH, STEC, CBL, AGCO, ILMN, DEXO, DHX, BLL, BEAV, SCOK
Bearish Watch:
SAFM, YUM, NKE
The Hit List is a separate post which contains discussion on open positions and swing trade stops and targets, so be sure to check it for further details on swing trades.
