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Category Archives: SPY
Stocks to Watch on 12/10: M, QQQ, SPY, WFC
Macy’s Inc. (NYSE: M) has experienced some strong action in the previous trading week. OBV is upticking quickly yet the prices seem not following accordingly, not enough for the least. Friday’s close was back above its mid-term uptrend (since Aug). Some acceleration on MA(50) & MA(200). Also, MACD is recovering quickly. I think the uptrend still enacts and I have a short term target of $42.00 on Macy’s.
NASDAQ QQQ: moved lower this week amid weakness and concerns on Apple (NASDAQ: AAPL) – the largest and most influential component of NASDAQ index. The index is now trading below its 50-day MA, as well as 200 day’s. Death cross is about to hit QQQ, signalING a shift to a bear market. For those who are bullish, watch for a breakout above both MAs with huge volume. For those who are bearish, watch for a breakdown below the key support level around $64.30. If it breaks below, I have a ST target of $62.00.
S&P 500 ETF (NYSE: SPY) moved slightly higher than last week. Friday’s close was briefly above 50-day MA. OBV is back to the level where we experienced high index level (Index: 1460-1470 or $146-$147). Next support: $137.97. Next resistance: $147. As we are in the middle between next support and next resistance, the coming trading week is very important to the market outlook. Bulls: watch for prices sustaining above 50day MA or a break above $143. Bears: watch for break below 50day MA with high volume.
Wells Fargo & Co. (NYSE: WFC) roughly breaks its ascending triangle (this time, I connected closing prices instead of high and lows) with relatively low volume. Bbands are widening and pointing up. I think breaking above last major support $33.35 could trigger even more upwards action.
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Stocks to Watch on Dec 06: AAPL, EDU, IDCC, NOK, SPY
Apple, Inc (NASDAQ: AAPL) breaks below its ascending triangle, reversing its uptrend, as I mentioned yesterday on my blog. http://stks.co/mG4T. Today, it falls 6.43% and another half percent during after hours. MACD is falling quickly and will soon be having a bearish cross. CMF is falling again. The picture on Apple is not nice. It seems to be forming so-called Elliot Waves. We are experience wave 3, which is, by theory, the longest and with most volume. I shorted AAPL today. I have a target of $500 by the end of this week.
New Oriental Education (NYSE: EDU) has almost filled all of its gap after its accouting scandal. By the look of the huge drop in two days, touching lower Bband with low readings on RSI and Slow STO. Although I think this stock is due for some correction. I am nothing saying the uptrend still enacts, prices touching lower bband can consider as a BUY signal (by textbooks)
InterDigital, Inc (NASDAQ: IDCC) breaks above $44.00 today. 200 day moving average seem to come to a saucer bottom. MACD and CMF are holding up pretty well.
S&P 500 (NYSE: SPY) This is my first time covering technical analysis on stock index because today’s move is very interesting and bullish on chart. Today’s low hits $140.00 (or Index:1400) yet closing slightly above yesterday open/close. Resistance is found under 50 day moving average but it seems like SPY is making higher lows. After all, I am bullish on stocks towards to the end of 2012.
Nokia Corp. (NYSE: NOK) raised 12.79% today with huge volume and 2% more in after-hours. 200 day moving average might be bottoming. MACD is ticking up. Faster moving average crossing slower from below could trigger another buying power. But I think NOK is due for some correction, as this stock rarely stays over 70 on RSI for longer than 2 days.
Socks to Watch on Nov 20: DDD, RIMM. AGNC, SPY
American Capital Agency Corp (NASDAQ: AGNC) Told you on AGNC reversing (yesterday). Now, Watch for MACD histogram crossover.
3D System Corp (NYSE: DDD) seems an uptrend is firm with 4 troughs connected in a ascending prices. My target, for now, is $46 through extending a parallel line to make a channel.
Research in Motion, Blackberry (NASDAQ: RIMM) broke the bullish flag last Friday and filled the July’s gap and made a new high at $9.59 after previous one at $9.17. My next short term target is $10.00 but I think the stock is reversing.
S&P500 (NYSE: SPY) Told you yesterday that there would be a move very soon. Just another update, On Balance Volume shows the stocks might be underpriced right now.
Stocks for watch on Nov 19: AGNC, NFLX, SPY
American Capital Agency Corp (NASDAQ: AGNC) A breakout took place after an engulfing bullish pattern. I think it would be a long setup and a reversal to the recent downtrend as prices leaving lower BB. CMF turned back to +ve area and extreme MACD reading seems to be reversing. Yesterday’s move was also significant in a way that the closing crossed 200day moving average.
Netflix, Inc (NASDAQ: NFLX) has broken the bullish ascending triangle today and finds some resistance over 200day moving average. The moves follows the criteria of a triangle as a continuation with decreasing volume throughout the formation and a breakout with relatively high volume. I am long this stock. I have a target of $95 from extending the height from the nearest trough to the base of the triangle.
Standard Poors SPDRs (NYSE: SPY) Just wanna touch base on the market in a general sense since there is a huge sell-off in the recent trading weeks. RSI and Slow STO are at extremely oversold level, amid worries on fiscal cliff and EU economies. Today’s bounceback is a good sign, signaling a possible reversal since volume exceeds any single days in the whole week. MACD seems to be reversing after reaching lowest level since June. I look forward to a correction to at least $147.42 then $140 before seeking another round of sell-off, if not, even higher index returns depending on the market currents.
Oct 23: XRTX, UVXY, TIVO, SPY, COH
Coach, Inc (NYSE: COH) made a run despite the market turmoil today as its sales had shown significant growth due to increase demand overseas. The stock price is now back to above 50 day moving average @ $58.15 with huge volume. Pretty healthy move. There might be a saucer bottom on MA(50). Definitely put it on our radar.
S&P 500 ETF (NYSE: SPY) The picture here is even worse than what I have covered on yesterday’s post. The index has dropped 20 point or 1.39%, making it close below 50 day moving average. On Balance Volume seems turning around.
TIVO, Inc (NASDAQ: TIVO) surged for 1.02% amid the falling of board market. This movement might show there is some level of support from 50 day moving average.
Proshare Ultra VIX Short-term Futures ETF (NYSE: UVXY) is a fairly newly found levered ETF longing CME VIX index, a.k.a. Fear index. A levered ETF on VIX could bring a hedge to your portfolio buying allotting the very minimum amount of fund in it. I have around 5% of my portfolio holding UVXY to protect my money from market downfall. Given today’s surge and positive MACD, upticking RSI and higher highs, UVXY could be a useful tool amid the period where almost half of S&P 500 are announcing their earnings. I don’t suggest large holding in UVXY due to the contango VIX futures. Plus, VIX index is highly speculative in nature.
Xyratex Ltd. (NASDAQ: XRTX) is testing if it can fill the gap. On my radar.
Notable earnings after tomorrow’s close: AB, ACOM, AEM, AKAM, AMP, CCI, CDNS, CLF, CMO, CROX, CTXS, EGHT, ENTR, EQR, FFIV, FIO, IDCC, INFN, KBR, LOGI, LSI, OI, ORLY, RRC, RYL, SGMO, SIMO, SPN, SRCL, SYMC, SYNC, TAL, TER, TEX, TLAB, TQNT, TRN, TSCO, TWI, WLL, WYNN, XNPT, ZNGA
Oct 22: COF, GRPN, IDCC, SPY
Capital One Financial Corp. (NYSE: COF) closes at exact $60.00. I consider it as a corrective move after Friday’s breakout of 52w new high. Note that today’s volume is lower than Friday’s. All MAs, MACD and RSI shows strength. I might initiate a position tomorrow if it does not close below $60.00.
Groupon, Inc. (NASDAQ: GRPN) The picture is not good. it closes below 20,50-day averages. Negative MACD crossover, -ve CMF. Maybe the appreciative move when I shared this stock as a buy candidate was just a corrective move. The stock seems to fail to reverse its trend. I have sold my shares.
InterDigital, Inc. (NASDAQ: IDCC) closed back above 50-day moving average today. The A/D line is still at high level. I don’t see much reason to sell the stock technically, except if you argue earning play is risky. Note that earnings announcement is on this Wednesday (10/24).
S&P 500 (NYSE: SPY) The picture on Standard & Poors 500 are not pretty as well. Closing below 20day MA and very close to 50MA. The index has failed to make higher high for 2 times since October. Volume on red days are generally higher than green ones. Bearish signal from RSI, MACD and CMF. I am planning to add some weight on my bear play on my portfolio besides volatility index (UVXY).
NYSE:TZA is bear 3x ETF on Russell 2000 index. 3X allows you to allot fewer proportion of your money invested to get the hedge or risk-reduction characteristics to your portfolio.
Disclosure: I am long IDCC and UVXY
Sept 26: SPY, S, GRPN, DDD, IDCC
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Sprint (NYSE: S) has been in a uptrend for a while. Although there is an almost-3% drop today, the body of the candlestick is still touching the upper band of BBand, which means buy signal is still entailed. There is a cup and handle pattern with a breakout. A pullback like today is normal considering Slow STO is at overbought level.
S&P500 Index: Even though, we have experienced several red trading days, I remain bullish on the outlook, at least technically. First of all, SPY is still closing above the exponential moving average in the middle of BBand. Second, it still closes above 141, the breakout level.
Updates to stocks I have mentioned before:
Groupon (GRPN) has dropped 7.21% with increasing short ratio at 10.48%
3D System (DDD) has dropped 4.02% after morning’s gaining. It now has a short ratio of over 20%. I think it is a very good candidate for short squeeze speculation.
InterDigital (IDCC): As mentioned yesterday, it finds strong support from its 200 day moving average. It now has a short ratio of 15%. A good candidate for short squeeze too. However, it has closed below 200 day moving average today with less than average volume.
