Strong reaction to the daily chart support level which was broken signals downside is likely today.
@ 10:00 SPY found support just under 197 and is making a strong move higher, tough market to short.
The weekly chart for PII looks strong with good price action backed up by heavy volume. Before I enter long I want to see a strong breakout where price closes at or very near the highs on higher than average volume on the daily chart. My stop will be just below that days low and entry 10 cents above the high. I also want to see the S&P follow through to the...
URI is testing the July Pivot highs with price closing well off that level for the second day. Thursday's price action looks strong and maybe setting up to resume the uptrend.
(CAR) was on my IBD list of strong fundamental stocks. It's in a strong uptrend and currently pulling back to the $61.95 Pivot level. Once there I'm watching for clear price action showing that the level is being rejected and momentum is building to the upside.
* On September 16th CAR gave an entry trigger with the strong up day closing in the upper range after a...
