Good evening StockBandits!
The major indexes spent the day in negative territory today, unable to gather any traction in either direction. The selling pressure was mild and temporary, as the session lows were made early in the afternoon before a gradual rebound arrived. The late-day bounce erased most of the losses, leaving the indexes only down slightly on the day.
Today’s action marks another day of rest, and it’s worth noting here that the bulls are hanging tough. Shallow dips with late-day bounces characterize bull markets, which is what we’re in. Having just attained new recovery highs from the March low, the trend is still up and a few quiet days like we’ve had the past 2 sessions is certainly a good way to digest recent gains. It’s a reminder to us to stay very selective when trading the short side, while watching closely to see if the upside momentum will return.
Here is tonight’s video:
The Bandit Broadcast Video – Click to Watch!
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Video Stocks Discussed: CAT, MMM, UIS, RAI, ACL, COP, KMX, HAL, BEN
Swing Trading Candidates:
NONE TONIGHT.
Bullish Watch:
HAL, CAT, BXP, RAI, BEN, MMM, ACL, CVX, USO, UIS, FOSL, COP, TSTC, PCLN, PLD, KSU, ACF, AMB
Bearish Watch:
WFMI, RRC, GYMB, ITG, AMED, KMX
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.
