Good evening StockBandits!
The bulls claimed another victory today as the S&P 500 went 12-for-14 to leave it just a few points from a new all-time high. [Read more…]
Showdown at the Highs – Blueprint 9-17-2013
Winded – Blueprint 9-16-2013
Good evening StockBandits!
The market gapped higher this morning in response to Larry Summers’ withdrawal from consideration as the next Chairman of the FOMC, giving the bulls something they felt was worth celebrating. [Read more…]
Review of the Indexes 9-15-2013
The bulls maintained their edge last week with some continued strength and then some much-needed basing action.
As we head into a new week of trading, it’s time once again to take a look at the indexes and the key levels they’re dealing with. This will impact how individual names move, so it’s where every new trading week begins.
NAZ – The NAZ made a new high by clearing 3694, saw some follow through, and then rested the final three sessions of the week. This bodes well for continuation higher, and there’s potential for a measured move to 3814 by adding the channel height to the breakout level.
SP500 – The S&P is trying to base here with a miniature bull pennant after a big ramp off the recent pullback low. It has reclaimed 1671 and filled a gap last week to 1685 and now sits just over 1% from the all-time high of 1709.
RUT – The RUT saw a huge rally off the key 1008 area to return to 1056, another level it has respected multiple times including this summer. That said, it’s not far from a breakout and new all-time highs could be painted soon on this daily chart. Any and all rest is welcomed at this stage but the past 3 sessions have certainly helped to digest the recent lift.
DJIA – The DJIA saw a huge advance last week to get within spitting distance of the 15400 level it broke down from in August. This index now needs some rest after this steep rally.
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Trade Like a Bandit!
Jeff White
Less Obvious – Blueprint 9-15-2013
Good evening StockBandits!
Last week we saw another market advance as the recovery off the August lows continued with a breakout in the NAZ to new levels not seen since 2000. [Read more…]
Laying Low Near Highs – Blueprint 9-11-2013
Good evening StockBandits!
The market put in a well-deserved day of rest today with some narrow-range bars on the NAZ and RUT to signify some needed digestion of the advance since last week. The S&P completed its gap fill to 1685 and lifted a few points past that, while the DJIA saw its third straight triple-digit gain to lead the way as it edged closer to 15400. [Read more…]
Out the Window – Blueprint 9-10-2013
Good evening StockBandits!
So much for last week’s strength being questionable. I say that half-sarcastically, of course, because the way in which we rallied was definitely suspect given the weak finishes in 3 of the 4 sessions. But this week so far we’ve seen nothing but follow through with a trend day yesterday and continued strength today to make a new recovery high. The S&P rallied to less than 1 point away from the 1685 gap I pointed out last night, while the NAZ added to Monday’s breakout. [Read more…]
Climbing the Wall – Blueprint 9-9-2013
Good evening StockBandits!
The market lifted at least a little in every session last week, but as I noted here last night, it just wasn’t happening in a convincing fashion with the weak finishes on 3 of the 4 days. Today, the strength continued, but in a different way. We opened strong and added to the gains throughout the session, with the NAZ making a new high in the process. The S&P reclaimed 1671 and the RUT pushed well past 1036, and even the DJIA cleared its previous minor bounce high. [Read more…]
Long Road to Nowhere – Blueprint 9-8-2013
Good evening StockBandits!
Last week ended with some fireworks as the always anticipated jobs report was quickly overshadowed by tapering talk which was then overshadowed by Putin’s comments on Syria. Early strength got sold with a gap fill in the opening few minutes and a rapid retreat deep into the red. [Read more…]
Video Review of the Indexes 9-8-2013
The major averages lifted from short-term support levels last week, but facing plenty of uncertainty, failed to exhibit a real commitment on the upside.
As we head into a new week of trading, it’s time once again to take a look at the indexes and the key levels they’re dealing with. This will impact how individual names move, so it’s where every new trading week begins.
Hit the gear icon on the player to select HD and then go full-screen for best quality.
Run time is 6:32.
Trade Like a Bandit!
Jeff White
Take a trial to my Stock Pick Service to get my trades.
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