| Feb 17, 2010 |
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Daily Insight - Feb 17, 2010 3:30pm As both the SPX.X and COMPX did not negate Tuesday's rising vector and the fact that their respective prices are exhibiting the second consecutive day above the midpoints, the return to a sideways consolidation is confirmed. The indices are currently midway between their midpoints and upper TFTF levels so either direction for Thursday is possible. "Day Trader" will most probably sell BRCD into the close for a slightly positive scratch trade and discuss BRCD again as well as Agilent on the buy side after the close. Swing Trading - Feb 17, 2010 3:30pm "Swing Trader" has no trades for the day. After 4:00pm - Feb 17, 2010 Broad market index SPX.X is "consolidating at the highs" of Tuesday's rise and seen below is how it is also firmly in the higher 1086.00-to-1115.00 consolidation box. So for now, expect prices to trend sideways within this zone.
Tech and bio-tech index COMPX has reached its black-colored 50-day moving average and some pullback from here will not be unexpected while giving its midpoints a chance to climb higher. Illustrated below is how a change of trend is confirmed as prices push towards upper TFTF levels of 2255.10 as its first target.
"Day Trader" will buy once again BRCD and also A [Agilent] at Wednesday's high or higher as long as they open under this price. Shown below is how the former is still in position for upper TFTF levels of $7.35 while the latter is ready to test its 52-week highs once the upper horizontal trendline is breached.
Trade Summary - Feb 2, 2010 No trades Week's Recap No trades |
