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Begin part 2 of 3
NOTE: PART 2 PRECEDES PART 1 THIS EVENING. THE PART 1 VIDEO MARKET & TECHNICAL SUMMARY IS AVAILABLE AT THE FOLLOWING LINK. PART 1 AND THE TRANSCRIPT WILL FOLLOW.
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The Market Summary video is DIVIDED into component parts: Market Overview, Technical Summary, Economy, and the Next Session. This allows you to choose the segments you are interested in without having to find the spot in a longer video. Click on the link to the portion you wish to view.
MARKET OVERVIEW
TO VIEW THE MARKET OVERVIEW CLICK THE FOLLOWING LINK:
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TO VIEW THE TECHNICAL SUMMARY VIDEO CLICK THE FOLLOWING LINK:
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TO VIEW THE NEXT SESSION VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/NextSession.wmv
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HTML CONTINUING PLAY TABLE. Click the following link to view the Continuing Play Table in HTML format including additional information, e.g. option tickers, after hours pricing
http://investmenthouse1.com/ihmedia/SSRTable.htm
CONTINUING PLAYS TABLE
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LEGEND FOR CONTINUING PLAY TABLE
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri =Ascending triangle; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AAPL 07/08 Rolling 197.05 -3.35 138.55 149.91 21M 23M 207.91
Current. After setting up a bounce point at the 50 day EMA (200.56) AAPL gave it up with the Tuesday downside. Getting to key support levels at 190 and 195 now with this higher volume move and time to be careful. No ABCD pattern after this move and need to see it begin to hold up Wednesday.
AAPL 04/15 Test 20 197.05 -3.35 119.69 132.77 21M 25M 207.91
Current.
ABVT 02/19 Flag 61.10 -0.75 62.08 69.95 98K 175K 59.57
Buy Not Hit. After three sessions working laterally, ABVT slipped lower Tuesday. Volume was up with the move, but still a good looking test to the 10 day EMA (60.53). This one is still set to bounce up out of the flag and we are ready to move in if it does.
AET 02/18 BullRev 28.98 -0.37 29.94 34.91 5M 8.2M 27.84
Buy Not Hit. Short gap lower, but still a nice move overall as it holds this support range. Also a good looking bounce up off the intraday low as AET pauses so we will continue to watch it. Going to see how the downside pressure in the market plays out, and how that affects AET over the next couple of sessions.
AMED 01/30 ABCD Up 59.18 -0.86 57.05 67.95 1.5M 1.5M 56.56
Current. Gap and rollover Monday, and just another gap and rollover Tuesday. Not great action to see at the January high, but did show a nice reach down and bounce at the 18 day EMA (57.61) Tuesday so that is a plus. Things are getting shaky, but going to leave AMED on for now to see how it deals with this downside pressure.
ANN 02/05 Flag 15.46 -0.38 15.12 17.65 1.5M 3.2M 14.06
Current. Predictable action with the turn lower off that Monday doji. Nothing too serious with volume sticking below average and ANN closing over light support with the 10 day EMA (15.29) though. Will see if the downside pressure continue to show on Wednesday and if that pushes ANN to the next support with the 18 day EMA (14.87) and will go from there.
ASH 01/27 Asc Tri 45.30 -0.82 42.69 49.89 1.5M 1.5M 44.21
Current. A higher volume move down Tuesday, but did stick over support with the 10 day EMA (44.86) and September high (44.96). This is a solid range of support over the 44ish mark so this is where we want to see ASH start to hold. Two days of testing and normal action so far, so will see where things take us Wednesday.
ATI 02/18 ABCD Up 43.73 -2.13 45.34 51.91 2M 3M 42.17
Current. Volume was up as ATI slid back to support at the 18 day EMA (43.61). Not bad support, but not able to show a bounce there at all so a fade to the 50 day EMA at 42.50 is possible. If it gets to that level a bounce would be nice to see.
ATW 02/16 Rolling 33.17 -0.34 34.21 39.45 941K 1.3M 32.03
Buy Not Issued. Short hop lower with this doji, but again, holding the bottom of the February range so just leaving it on. Also bouncing nicely up from the intraday low and just waiting this one out. Will see if it can show the move up over the 34 mark in the next several sessions and hold to give us the buy.
CMG 01/26 Test BO 103.64 -0.29 98.45 110.00 307K 550K 99.97
Current. Holding up as it needs to with this doji, and showed a solid intraday reach down to the 10 day EMA (102.97) that bounced. Really a clean looking test over the past six sessions now and at this point we just wait and see if it can take the bounce up from this support.
CNMD 02/04 ABCD Up 22.08 -0.09 22.89 26.45 68K 265K 21.56
Buy Not Issued. Small gap down with this doji, and moved just beneath the 50 day EMA (22.18). Really don't like this action, especially with the finish off the intraday high, but holding near enough to the support level. Will see if CNMD rebounds any now.
DNDN 01/21 ABCD Up 31.01 -1.80 29.54 33.48 4.8M 3M 30.48
Current. Gapped up Monday and then finished well off the high Monday, and now a strong Tuesday turn lower. Managed to close over the 18 day EMA (30.68) and January (30.36), February (30.43) highs with support there, but not able to recovery any off the intraday low. Will have to see if it can hold that support Wednesday, with further downside likely headed to 30 before bouncing at that support.
EAT 02/08 Test BO 17.95 -0.23 16.81 19.91 1.6M 2.8M 17.24
Current. Well off the intraday high, but just letting EAT test with this downside to the 10 day EMA (17.79). Also have that pre gap level from last week at 17.81 so there is a decent level of support to hold. Could set things up for a further run if it can bounce, so giving it that chance.
EBIX 02/19 Flag 14.94 -0.77 16.16 19.81 636K 1.2M 15.31
Buy Not Issued. Dropping this one as it gapped down and continued to sell with the higher volume. Broke up the flag pattern with this action.
FCX 02/05 Dbl btm 73.64 -2.60 70.96 84.92 18M 20M 73.34
Trailing Stop. Bounced down away from the 50 day EMA (76.28) with volume swelling so had to close this one down. Just couldn't retake that support level.
FIRE 02/22 Flag 23.32 -0.62 24.38 28.00 406K 400K 22.71
Buy Not Hit. Thumped lower to close below the 50 day EMA (23.48), but a nice recovery off the intraday low with volume. As we saw buyers still moving in with this one it is still showing life and we can see if it rebounds any Wednesday.
FNSR 02/13 DB hdl 11.87 -0.35 11.75 13.97 808K 1.2M 11.11
Current. Saw that short gap up Monday to a doji, and so no shocker Tuesday with the turn back down. Shaping up to be a normal test after a nice two week run, and bounced up off the intraday low at the 10 day EMA (11.64). Just giving this one time to see how it fades and will see if it takes the bounce in the next couple of sessions.
GMCR 02/01 Test BO 81.11 -1.48 86.12 99.88 888K 2M 81.94
Current. Not able to hold the line with the 18 day EMA (82.56), but the downside did hold support at 80 so left it. Not great action, but now we see if GMCR shows any stickiness and can start to rebound. Do not want to see another day like this though that gives up the 80 mark.
GOOG 02/05 BullRev 535.07 -7.73 539.42 574.45 2.9M 4M 537.32
Exited. Not the prettiest action of late, but had been holding up with light support. Fell through that support Tuesday so went ahead and shut it down to avoid that fall to next support at 325.
HOLX 02/04 Test BO 16.16 -0.03 16.41 19.91 4.3M 5M 15.68
Buy Not Hit. Big gap lower and rebound Monday, and now just showing a side step to a doji. Volume was up considerably, but showed indecisiveness with the spinning top doji. Time now to just see how HOLX holds this 16ish support and if it can indeed to start a move higher.
HUM 02/05 ABCD Up 46.82 -1.05 47.69 54.55 2.4M 3.5M 45.44
Current. Soft move lower to follow up that stronger Monday bounce. Definitely got a little juiced with the Monday bounce and now might test back to 46 for reassurance. If it can bounce there it is still in a great place to start running.
ILMN 02/10 ABCD Up 36.01 -0.36 36.53 40.97 872K 4M 34.42
Current. Not crazy about how ILMN gave up the 18 day EMA (36.38), but it was a very low volume move that held 36 support. This would be a great place to bounce after five days of testing but a further fade to the 200 day SMA (35.55) is also possible. Will see if ILMN can get traction anywhere Wednesday.
ISRG 01/28 Test BO 342.68 -4.31 335.64 374.75 381K 700K 334.88
Current. Lateral step Monday and no surprise with this fade back Tuesday. Nice support level with the January high (340.71 open) and 10 day EMA (338.77) but could test further. Will have to see how it reacts at that support Wednesday and go from there.
ITMN 02/19 Pennant 14.78 -0.12 15.18 18.44 1.2M 1M 14.44
Buy Not Hit. A short move down that held the 50 day EMA (14.64) support, but closed well off the intraday high after surging to the 18 day EMA (15.36) and peeling back. Held the line to keep the ABCD pattern in shape so will give this one a few days to see things pan out.
JOYG 02/13 Test 20 48.70 -1.26 49.05 55.00 3.1M 4M 48.08
Current. Bumped lower Tuesday, but a pretty solid recovery off the intraday low to hold near the 18 day EMA (48.99). Still have to watch out for the resistance overhead with the 50 day EMA (50.71), but ok to see if this one can stick in this range now. If it gets a foothold then we see if it starts to climb back up.
MJN 02/09 Asc Tri 46.21 -0.47 47.21 54.55 1.6M 6M 45.54
Buy Not Hit. Turned back down off that Monday doji to close at support from the 18 day EMA (46.01). This could be that final test we want to make a lower high ahead of the breakout of the pattern. Will watch it closely Wednesday to see if anything gets started, and ready to move in now if it can make this a solid test/bounce.
MR 02/02 Test 50 37.00 -0.28 36.94 41.95 459K 1.4M 35.78
Current. Gapped lower, but a nice bounce up from the intraday low at the 10 day EMA (36.75) closed this one with a doji. Not too worried with this smaller move back down as it is holding light support, but will be interested to see how it reacts Wednesday. A bounce right back up would be great, but will see if it prolongs this test any.
MTW 02/19 Cup hdl 11.46 -0.65 12.02 15.45 2.9M 4.2M 11.22
Buy Not Hit. After solid testing last week, ATW went ahead and took a quicker drop back Tuesday. Just took the express route to the 50 day EMA (11.37) and as it is holding we moved the buy. Will see if it shows any stickiness now and can start to rebound.
NETL 02/05 Test BO 52.19 -1.51 50.68 56.94 653K 750K 51.22
Current. Gapped lower Monday, and just continued the downside with the Tuesday selling. Managed to hang on at the 10 day EMA (51.94) though, and volume did edge back slightly so that is a good thing. Would be great to see a hold at this support, but if it can't we will have to watch it and see where it sticks.
NFLX 02/05 Test BO 64.35 -0.92 61.42 69.97 1.9M 2.2M 62.91
Current. Gapped down and then sank more to close at the 10 day EMA (64.02) Tuesday. A nice intraday bounce up from this level Monday, but not able to do the same this time around. Looks decent over light support though, so just seeing if NFLX hangs on Wednesday and can start to rebound.
NKTR 01/29 Test BO 12.52 -0.41 11.88 13.97 608K 1M 11.97
Current. Worked laterally for a couple of sessions, but then a quicker drop back to the 10 day EMA (12.38) Tuesday. Not really that big a deal if it can start to hold up with this support as volume did not move in with the downside. Ok to see if things level off in the next session or two.
NLST 02/18 ABCD Up 3.82 -0.01 4.26 6.45 302K 3.5M 3.96
Buy Not Hit. A lateral step after the gap up and fade back to flat. Not showing a ton of strength under the 50 day EMA (4.09), but sticking in a decent range so we are just waiting it out. If volume can move in at all with the upside it could help this one get back on track, but will have to see how the downside pressure plays out in the market over the next couple days.
PCLN 02/11 Dbl btm 225.09 -3.98 210.99 229.91 1.2M 13M 225.77
Current. Bleeding back now on higher trade to move below the January high at 230. Really don't want to see if fill back down to the next support at 220, so PCLN needs to get legs now. Will see if it does Wednesday.
PDCO 02/13 Test 50 29.65 -0.37 29.57 33.89 1.4M 1.3M 28.54
Current. Butted up against that 30ish resistance Monday, and now a short gap up that fell back to close. Not be best action at a resistance level, but can see if PDCO will reload down at the 10 day EMA (29.48) and bounce.
PLXS 02/02 Test BO 34.35 -1.07 32.22 39.94 254K 425K 33.28
Current. Second day lower and picked up momentum though volume remained below average. Also did bounce moderately off the intraday low to hold the 10 day EMA (34.29) to close so that is a plus. Will see if PLXS can hold now, or if it fades more to stick with the 18 day EMA (33.62).
PNRA 01/26 Test BO 72.43 -0.39 71.97 79.50 439K 650K 70.77
Current. Gapped lower and then closed there with a doji after failing to stick the intraday surge higher. Held the 18 day EMA (72.40) with the move though have to see if that continues Wednesday. PNRA could be headed a little lower, but going to see how things turn out with the next session and will go from there.
RIG 02/18 Rolling 84.51 -0.79 85.00 93.88 6.2M 5.5M 81.44
Current. Gap lower, filled, and then closed back with a doji on the day. Showing hesitancy at the 50 day EMA (85.87), but this is a roll play and not too deep into the move so just giving it time. Still like how it is coming off the support so just letting this one have room to play.
RIMM 02/17 Flag 68.42 -1.26 70.98 88.91 11M 22M 67.44
Current. Not nice. Moved lower again and is now holding a key level at 68 with the late December and early February highs, as well as the 18 day EMA (68.22). Can still bounce off this support, but this is a critical place to start showing life and will see if it can do that now.
RIMM 01/13 Pennant 68.42 -1.26 66.11 79.94 11M 22M 67.48
Current.
RMD 02/10 Test BO 56.94 -1.01 55.08 61.89 478K 6.2M 54.77
Current. No surprise with this turn lower off that Monday doji. Lower volume with the downside though, so shaping up as it needs to. Will see how it continues to near support at 56 and then see what kind of reaction we get.
SHLD 02/19 Flag 93.80 -1.86 95.61 104.89 1.7M 2.4M 92.11
Current. Gapped higher on good earnings, but then got dragged back by a defensive market to close negative. Holding where it needs to with the 10 and 18 day EMA (93.65, 93.45) but want that to continue. Important to see things settle down over the next several sessions and then we can look for the run higher.
SHLD 02/04 Test 50 93.80 -1.86 91.31 104.89 1.7M 2.4M 92.11
Current.
SINA 02/16 Dbl btm 36.96 -0.90 38.06 43.85 1.3M 1.4M 35.88
Current. Stepped back with much higher volume, but did bounce off the intraday low at the 200 day SMA (36.28) to keep things looking decent. Good support at the 36 mark to hold with the prior February lows, and want to see continued strength over that level Wednesday.
SJT 02/09 ABCD Up 20.56 -0.49 21.33 24.94 238K 350K 20.23
Current. Third day down but volume did pick up with this move as it nears support. Getting back to the three prior lows from January/early February at 20ish as well as the 50 day EMA (20.21) and this is a key level to hold. Want to see the bounce up from there in the next couple of sessions.
SOA 01/28 Rev HS 13.88 -0.48 14.16 17.94 1M 1.8M 13.62
Current. Volume did pick up somewhat Tuesday with this move down to the 18 day EMA (13.89). Held the support, though could not really bounce much off the low. Would be good to see a hold in this range over the next session or two and then see a rebound.
TEN 02/22 Cup hdl 19.58 -0.13 20.11 23.98 1.2M 1.8M 18.91
Buy Not Hit. Nice action indeed as TEN reached much lower and then recovered on volume. Looks good with this doji over the 10 day EMA (19.45) as it finishes up the handle and at this point still just waiting for the break higher to give the buy.
TEVA 01/29 Test 50 59.45 -0.42 57.59 64.32 5M 6M 57.89
Current. Bounced strongly for two sessions and now just testing that move. Acting as it should with the higher volume upside, lower volume downside, and now seeing how it holds support at 59ish. Just going to watch how it tests Wednesday.
TEX 02/11 Rolling 19.75 -0.79 19.34 23.77 2.4M 2.8M 18.91
Current. Quick turn lower Tuesday to close below the 50 day EMA (20.27). Key session coming up for it now as it broke the short uptrend off the February low and now has to recover. Will see if it can, or if it wavers under this resistance level.
TIE 02/19 ABCD Up 11.73 -0.49 12.16 14.94 3.3M 4.2M 11.32
Buy Not Hit. Gapped up Monday but now rolling over the with Tuesday move down. Holding near the 10 day EMA (11.75) with this move, but need to see if it can check up. If it can start to make a stand and turn higher we will continue to watch it.
TSL 02/13 Test 50 22.96 -0.70 25.85 29.91 3.5M 4M 23.89
Current. Gapped lower, immediately tested down to support at 22, and then recovered to a doji. Holding under the 50 day EMA (24.05) with this doji, but decent enough action to get us to hang around for another session to see if it recovers. Now we see if it will.
WBSN 01/21 DB hdl 20.89 +0.11 19.36 23.44 308K 450K 19.78
Current. Intraday reach down to the 10 day EMA (20.36) and then bounced back to close positive. Not bothered by the selling Tuesday and that is a positive, but still have that Monday gravestone doji to consider. After the long run a test would be ok, but if it decides to carry forward we will not complain.
XTEX 01/29 Pennant 9.08 -0.16 10.01 11.95 155K 525K 9.31
Current. Higher at first but then rolled back to close at 9 support. Not great action as it moved up through the 18 day EMA (9.31) and then gave it up, but holding the support it needs to for now. This is where it needs to recover from though so will look for signs of life.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMZN 02/08 Rollove 117.24 -0.77 116.80 108.55 7.1M 12M 120.68
Current. Tested up to the 18 day EMA (119.29) and then slipped back to finish with a doji. Showing weakness still as it holds under light resistance but has not made the break down from the February consolidation. Ok to give it more time to do so though if the market can continue to sell.
ATHR 02/22 Dbl Top 35.66 -1.18 35.91 33.08 1.6M 16K 37.11
Entered today. Big gravestone doji on Monday under resistance, and an appropriate knife lower Tuesday. Gave us the buy with this fall and looks set to continue.
BRCM 02/19 BearRev 30.73 -0.66 31.38 28.11 7.6M 10M 32.12
Buy Not Issued. A downside that fell early and quickly so could not move in. Did bounce up off the intraday low, though, so going to see if it can recover at all. If it can rebound and then fail again we may get another shot at this one.
BUCY 02/22 BearRev 59.48 -2.82 61.15 56.25 2.8M 4M 62.11
Entered today. Solid step lower to follow that Tuesday gap and rollover. Looks weak as it slips below this modest support at 60 and does not looks like it will be able to recover it. Just seeing how it falls now.
CRR 02/09 BearFla 59.27 -2.47 63.38 58.32 609K 450K 60.65
Third day down and picking up speed as volume increases. Really looks like it has more room to the downside now as well as it can fall towards 57ish before hitting that December low. Will see if it does now.
CTSH 02/16 BearRev 47.22 -0.11 47.15 43.08 3.4M 4M 48.54
Current. Not much more than a lateral step with this doji over the 10 day EMA (46.87). Still more life to the downside as we saw that Monday gap and rollover, but still needs to show more. Bouncing over light support is not going to do much for the downside so going to see if that changes Wednesday.
EGOV 02/13 BearRev 7.63 +0.22 7.21 6.04 346K 400K 7.62
Buy Not Issued. Punched through resistance with this very strong Tuesday bounce. Not a downside set up to play now so dropping it.
FWLT 02/17 BearFla 26.81 -0.85 27.37 24.28 3.5M 3M 28.69
Buy Not Issued. Fell for the second session and a nice fall through the 10 day EMA (27.50) support. Still in the buy range though if it can make a test back up to 27ish and fail. May take a couple sessions but we will see.
MA 02/13 BearFla 222.02 -2.22 224.24 212.00 1.7M 2M 227.31
Current. Not the great drop we wanted as it came back after tapping that Friday low again. Needs to show more downside proclivity to give us comfort with this play so watching this one closely. Looking for weakness in the next session or two.
MON 02/04 BearFla 75.90 -0.89 75.56 70.15 3.4M 6M 76.78
Current. This one is panning out like we want. Saw that big gap and rollover on Monday and now just continued the downside Tuesday. There is a support level at 76 with prior lows, but MON is making a nice drop. Looks like this one does have room to the downside still.
MSTR 02/11 BearFla 7.58 0.00 84.77 77.48 748K 200K 86.82
Buy Not Issued. A lateral step with this doji to continue working along the 10 day EMA (86.02). Seemed unaffected by the selling, but still holding under the resistance so we are waiting on it. Giving it more time to break lower out of the bear flag pattern.
PFWD 02/19 BearFla 11.92 -0.08 11.78 10.04 354K 650K 12.21
Buy Not Hit. Really a nice bear flag set up as PFWD holds under the light 10 day EMA (12.04) resistance. Gave us a slight turn away from that resistance level Tuesday and seeing if things can continue to really bust open the downside.
RL 02/17 BearFla 80.28 -1.03 79.44 75.05 1.2M 1.4M 80.98
Buy Not Hit. Held under the December highs after that Monday bounce and took a turn lower Tuesday to finish below the 50 day EMA (80.70). Shaping up nicely for the downside play still and if it can fail at this resistance it is set. Will keep a close eye on this one and watching if it starts to move to the downside and holds it.
SSD 02/13 BearFla 24.31 -0.78 24.35 21.32 198K 300K 25.21
Buy Not Issued. After bouncing up over the past couple of sessions to the 50 day EMA (25.04) SSD made a solid turn lower Tuesday. Can still give us the downside buy now, just need to see that it can continue the move lower. Another one that will be interesting to see how it pans out over the next session or two.
End part 2 of 3
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