Market Preview (12/31/2012-01/04/2013) and Watch List

This week is ALL about what happens today and tomorrow regarding the fiscal cliff. Tuesday the markets are closed (New Year) but as we roll into Wednesday, things could get nasty if there is no deal. There is economic data which is due this upcoming week (ISM Mfg, and employment report friday) but I believe they wont have much of an impact due to all eyes being on what's happening in Washington.

The SP500 dropped below the 50 DMA on Friday and the next level I am watching is the 1400 level which is right above the 200 DMA. If things do get nasty in the market due to the news from Washington, I am looking as low as the 1375-1380 level.

WATCHLIST

BPZ - pull back to support then go!

CBEY - bounce off this new support to go on for a flag break

CVC - could go real high if it crosses over the 50 DMA, watch list for a couple days

HERO - flag

RSYS - room to go to 3 and even more (strong support pushing it up)

Good luck this week!

Market Review (12/27/2012) and preview for tomorrow

Brief sell off today (the sell off could've been much worse but the House of Representatives announced that they will meet again to avoid a fiscal cliff) in the markets.

DJIA - -0.14%
SP500 - -0.12%
NASDAQ - -0.14%

The SP500 is still in between the 20 and 50 DMA where I think it should consilidate as we hear back from what is happening in Washington regarding the "fiscal cliff."

WATCHLIST

 EGHT - flag

 HOV - flag

 LNG - long setup

 SABA - flagging right under the 50 DMA

SPRD - flag

Good luck tomorrow!

Market Review (12/26/2012) and preview for tomorrow

Weak retail sales data sent the major averages down today and no news/deals really from Washington regarding the 'fiscal cliff' were announced.

DJIA - -0.19%
SP500 - -0.48%
NASDAQ - -0.74%

Jobless Claims and New Home Sales tomorrow!

The SP500 slipped under the 20 DMA for the first time in December. It is hovering right on top of the 50 DMA.

WATCHLIST

DM - flag

GRPN - good upside to the next level (5.50)

IPHI - bull flag

NEON - break, this one really tends to run once it does get a break

ZAZA - flag

Good luck tomorrow!

Market Review (12/24/2012) and preview for tomorrow (12/26/2012)

Happy Holidays!

Down day yesterday in the market as a shortened session with low volume indicated that there wasn't much going on. Many attempts to break even failed as the markets slid during the last minute. Talks in Washington will decide the fate of the markets in the next few days.

DJIA - -0.39%
SP500 - -0.24%
NASDAQ - -0.28%

We had a down day but we still have strong support over the 20 DMA. Looking for a bounce off this DMA.

WATCHLIST

IRBT - gap fill after break

MNKD - break over 200 DMA, tested several times

OCZ - gap fill

UCTT - bottomed out, good upside

VDSI - break of 200 DMA

Good luck tomorrow!

Market Preview (12/24/2012-12/28/2012) and Watch List

We ended up pretty much flat last week, small gain as fiscal cliff talks hit a wall. We had good economic data coming in during the beginning of the week but when the talks from Washington halted, we saw that the stock market slid.

We have a shortened week as the markets have a half day on Monday and it is closed on Tuesday. New Home Sales on Thursday which I expect to be fine.

The SP-500 is still on a long-term uptrend so I remain bullish, might see a short term reversal if there as crunch time approached for fiscal cliff negotiations.

WATCHLIST FOR TOMORROW

 CLDX - bounce off pullback and support

 IQNT - break

 ISIL - flagging

 

 NKTR - good support for th epullback, break over top

TVL - pull back to support then looking for continuation

Good luck tomorrow!

Market Review (12/19/2012) and preview for tomorrow

Markets faded late today as news came out from Washington about a new budget plan. Investors grew concerned that no deal has been met yet as the two parties cannot agree on a plan. GDP and jobless claims tomorrow.

DJIA - -0.74%
SP500 - -0.76%
NASDAQ - -0.33%

The markets are still holding itself above November highs and has all the moving averages below it supporting it.

WATCHLIST FOR TOMORROW

GFA - break

HIMX - break above this light pullback

NVDA - good upside as it can get over this flag

OCZ - break above this pullback and fill gap, has alot of room

SPLS - possible gap fill has alot of room now to move if it does hold this trendline break

Good luck tomorrow!

Market Review (12/18/2012) and preview for tomorrow

Stocks hit a two-month high today with the tech and energy sector leading the way. Also reports that there might be a compromise soon about the "fiscal cliff" also drove the market higher. Keep on the November housing starts number tomorrow (could drive the market possibly).

DJIA - +0.87%
SP500 - +1.15%
NASDAQ - +1.46%

It looks like the SP500 will look to consolidate under this area before making new highs.

WATCHLIST FOR TOMORROW

AA - break over trend and 200 DMA (could possibly consolidate here before making a move)

AFFX - gap fill

AMD - good upside here after break, low risk here

IQNT - looks ready to go, stick a stop loss at the 20 DMA

WIN - gap fill (might consolidate for a few days, keep on watchlist)

Good luck tomorrow!

Market Review (12/17/2012) and preview for tomorrow

We had a nice day in the markets as there was talk coming out of Washington that a deal was closed to being finished regarding the "fiscal cliff." The financial sector had a great day helping the markets break a recent slump that it has been having.

DJIA - +0.76%
SP500 - +1.19%
NASDAQ - +1.32%

 

The SP500 popped back over the 50 DMA which will serve as a good support level. We will be looking to see during this entire week if any dealings get finalized in Washington.

WATCHLIST FOR TOMORROW

ARQL - break, has alot of room on the upside. low downside risk

IQNT - coiled up for a nice move on the upside

LDK - flag

 NTRI - break

SONS - break can get this one going

Good luck tomorrow!

Market Review (12/13/2012) and preview for tomorrow

Stocks dropped lower today as I expected because it was overbought. There was good data coming out but there are still people concerned over the "fiscal cliff." 

DJIA - -0.56%
SP500 - -0.63%

NASDAQ - -0.72%

CPI and Industrial Production Index data coming out tomorrow.

The SP500 is still over the 50 DMA which is serving as a good resistance for the pullback.

WATCHLIST FOR TOMORROW

AMD - ready to go again

ARQL - great upside, gap fill

ATSG - break over 50 DMA

FOE - gap fill

ZAZA  - break

Good luck tomorrow!