Good evening StockBandits!
Stocks began the new week on a quiet note today as an upbeat start failed to generate additional interest. Instead, the market stayed in a somewhat narrow range for the entire day, putting in some healthy rest while respecting Friday’s highs.
The NAZ and S&P 500 each continued to cling near key levels at 2802 and 1332, respectively, while the DJIA and RUT each pushed to new 52-week highs on a closing basis. That gives us a bit of a mixed market at the moment, but I do expect soon we’ll see more unified price action – one way or another.
The big question tonight is whether today’s pause indicates some kind of a potential turnaround for stocks in the short term. While that’s not at all out of the question, it’s more likely that today we simply saw some rest. Today’s light volume indicates as such, and the indexes have made sizeable moves in the past couple of weeks, so it’s healthy to see them pause for now. It may not rest for long, so it’ll be important for us to stay on our toes and be ready for whatever comes along. I’m eyeing both long and short candidates for tomorrow’s session, and will take them as they trigger.
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: ADSK, LULU, UNP, TEX, ETR, RCL, CAM
Swing Trading Candidates:
NONE TONIGHT
[table “18” not found /]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.
