The market seems to be in a slow grind higher. It was somewhat of a mixed market today with the DJIA and SPX down slightly but the Nasdaq and RUT were higher. The dollar broke higher out of consolidation and oil dropped. In tonight’s video I review Twitter (TWTR), Under Armour (UA), United Continental (UAL), VipShop (VIPS) and Alibaba (BABA).
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The market continued to push higher today after a slight pause yesterday. My best description is that it continues riding the ten day exponential moving average (ema). The DJIA was up 92 points today with Nasdaq +7 points closing at 4968.12. All the major indices are trending about the same now, with the Nasdaq the furthest above the December highs. Continue reading
In today’s trade ideas video I review three trade ideas currently open: Seagate Technology (STX), Caterpillar (CAT) and Under Armour (UA). UA was initiated on Friday. I then look at two new trade ideas on United Continental (UAL) and United States Steel (X). I also review Yahoo! (YHOO) which I am closely watching.
“We become what we think about most of the time, and that’s the strangest secret.”
–Earl Nightingale
Have a great week everyone!
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NYSE Composite Daily Chart
On Friday all the key indices pushed higher in what looks like a breakout to the upside. The NYSE Composite (NYA), Dow Jones Industrial Average (DJIA), S&P 500 (SPX) and Russell 2000 (RUT) all stand at new all-time highs. How much power is behind this breakout, is unclear, but for now the market wants to move higher. Continue reading
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The stock market continued its consolidation activity basically trending sideways for the three days so far this week. The DJIA was down 44.04, the SPX down 2.22 and the Nasdaq Composite up 18.33 points. In tonight’s video I review the key U.S. indices as well as Germany, Russia, India and China. Stocks in focus are GPRO, LULU, LVS, MPEL and TSLA.
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