Looking for a Gap up and Fade Tuesday-Wednesday We have the Gap up today watching end of day starting to build $SPXU
The HPS Watchlist for week of Dec 15th 2014 is out. Christmas Rally approaching fast Well we went out on the lows, But I definitely want to go on the record and say this will be seen as a great opportunity going into the week of Christmas. The pullback could be considered a Christmas present but timing will mean everything. I am expecting the main move to come closer to Christmas and the early part of next week could still be volatile and weak. The chart below shows last years pullback before Christmas and also shows the type of candle that really pointed to a extended rally. In each of the pull back the reversals came on a big reversal candle.I will be looking for this.also. Last Year the week before Christmas This Year leading into Christmas and the first time in 3 months we are back oversold on the daily stochastics. This combined with the 60 Min time frame oversold makes it a multiple time frame buy signal. So this signal alone is something that is needs to be watched and being right before Christmas..Well like a said seems like a gift. I will be watching for a large rage candle to Hammer out the bottom. This Years 60 Min Chart This week's Watch list consist of great stocks in great Flags and a few lower trend line bounces but I make it clear in the video I want to stick to a more focused list and if market performs into Christmas week watch these stocks have a great chance of moving higher. The first part of the Video I was recording during the day and had some great es trades I only focused on 2 set up today but one was a perfect wedge pattern and the other a Dual Stochastic Flag Set up. both on 1 contract. Having the discipline to hold back from over trading was key here I look forward to continuing this week. Have a great Weekend and see you Monday bright and early. DayTraderRockStar