Market Radar for May Friday may 16th 2014 Possible Bearish Divergence he possibility of a bearish Lane Divergence setting up is making me a bit nervous going into tomorrow, The Lane divergences on recent stocks have shown a great 2 day follow through when the divergence was confirmed with the cross over signal of the stochastics. Well we have that now setting up on the down side and today was the cross over, Fridays are always tricky and even though we have the daily divergence triggering we still have the 60 min oversold and that has not disappointing in a long time.. Daily negative and 60 min positive on the fact we are oversold, but could turn negative as we could be getting embedded. Cautious outlook for tomorrow and looking for great trades off the tradeometer.
DayTraderRockStar Best Bet for this week Yes I am going out on a big limb here extremely bullish on FSLR for early this week, and 2 other best bets look great. In fact the watch list doesn't have a weak stock this week except maybe the slower moving one like PFE or HSY other then that expecting great moves out of this weeks list.
Last week you made money on $FSLR this week Best Bet is $MDRX brought to by DayTraderRockStar MDRX is one of 4 perfect trades that are lined up for this week. Enjoy and remember I will be getting in this early Tuesday so tune in to watch the trading and the profiting.
After todays awesome performance of $IACI $DNKN has moved to the best bet of the week position with a target of 46. Notable earnings out after close: $CRMT (est. $0.66), $WTSL (est. $-0.18), $WDAY (est. $-0.28)
What charts you want to trade in this market. Some notes on the market and what to expect as the summer trade comes into effect. As school wraps up for the summer more and more traders will be focused on vacations and family obligations this will be seen in the markets by lighter volume and in some ways a lack of enthusiasm. This does not prevent us from profiting in the market. One of my favorite analogies is comparing trading to baseball and when you think of the characteristics that make up a great baseball player (we are talking hitting) It comes down to not swinging at bad pitches and putting yourself in the best position to make contact and get the ball in play. Wait for your Trade!! This next one is a great quality company that has the recognizable channel and multiple time frames lining. You can see the results from this This Next setup is another falling wedge pattern similar to the current CBOE look for the same type of performance We continue to jump on any Lane Divergences that cross my path this past week has been great for these. If there is one great technique that does not have you chasing a stock it the "Lane Divergence"
Another Lane Divergence The list goes on and on. DNKN was also a Lane Divergence and you can see each chart comes with the buy trigger defined with target and stop. SLV looking great and GLD this could be the beginning of a bigger move in Metals.. and does the situation in Iraq escalate and effect the markets..