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Begin part 2 of 3
New plays contained in part 3.
Support and Resistance
Nasdaq: Closed at 1957.96
Resistance: October high (1967) is now back in play. The near top of the channel (1977ish). The second, higher channel hit in September is at 2002ish. Then 2000 to 2050, the early January 2002 double top.
Support: The 18 day MVA (1920). The September high (1913). 1860 to 1865. The 50 day MVA (1869). The March/August up trendline (1866).
S&P 500: Closed at 1053.25
Resistance: 1054 (October highs) is not completely broken. The December to June upper channel line at 1064ish. 1050 and 1080 from February 2002 lows. 1100 represents some early 2001 lows. 1150 to 1175, the early 2002 double top.
Support: The 10 day MVA (1047) and the 18 day MVA (1042). 1040, the September highs. 1030 to 1032 (early September highs). The exponential 50 day MVA (1027). The top of the summer range at 1015. 1010 the early September highs. 975 (December 1997 peak).
Dow: Closed at 9838.83
Resistance: The October high (9850) is again the near resistance to beat. 10,000 is the candle that attracts the moth.
Support: 9800 (April and May 2002 lows). The 10 day MVA (9765). The 18 day MVA (9722). 9686 (September high). 9588 the early September highs. The exponential 50 day MVA (9580). 9500 (June 2002 lows) is the top of the summer range.
Economic Calendar
11-03-03
ISM Index, October (10:00): 57.0 actual, 55.9 expected, 53.7 September.
Construction spending, September (10:00): 1.3% actual, 0.4% expected, 0.7% August (revised from 0.2%).
11-05-03
ISM Services, October (10:00): 63.4 expected, 63.3 September.
Factory Orders, September (10:00): 0.6% expected -0.8% August.
11-06-03
Productivity, Q3 (8:30): 8.5% expected, 6.8% Q2.
Initial jobless claims (8:30): 380K expected, 386K prior.
11-07-03
Non-farm payrolls, October (8:30): 65K expected, 57K September.
Unemployment rate, October (8:30): 6.1% expected, 6.1% September.
Hourly earnings, October: 0.2% expected, -0.1% September.
Average workweek: 33.8 expected, 33.7 September
Wholesale inventories, September (10:00): 0.2% expected, -0.2% August.
Consumer credit, September (3:00): $5.3B expected, $8.2B August.
SEMINARS ON CD
http://www.stockseminarsonline.com
This is Jon Johnson's own site devoted exclusively to seminars designed to teach you what you need to know about the stock market and stock movement and how to take advantage of those moves without incurring the usual high costs of travel and related expenses usually associated with seminars.
CONTINUING/WATCHLIST: This week the summary table breaks out the upside and downside plays into different sections labeled accordingly.
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: A Wedge=Ascending triangle/wedge; 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; DWedge=Descending triangle/wedge; 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.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AGRB 08/28 Rv H&S 3.48 -0.05 3.02 3.95 1.6M 6.7M 3.22
ALGN 11/03 Test BO 17.02 +0.09 17.05 20.45 1.2M 616K 15.82
Buy Not Issued. More volatile with 17.33 at the day's high and 16.30 at the low. Continues to move up the 10 day MVA on lower, but still very strong volume.
AMKR 11/01 Test BO 19.35 0 19.89 23.65 1.7M 2.1M 18.42
Current. Gapped down at the open but rallied to close flat on lower, but still above average volume. Tapped 19.60 at the day's high, but gave it back. Still in good shape.
AMSWA 10/23 Test BO 7 +0.25 6.12 7.45 221K 150K 6.04
Current. Great move up the 10 day MVA on above average volume. Tapped 6.62 at the day's low and rallied.
AMT 11/03 Cup hdl 11.54 -0.46 12.12 14.55 1.7M 2.6M 11.27
Buy Not Hit. Thudded down on stronger, but only average volume. Tested below the 10 day MVA intraday and rallied. May test down further.
AMZN 05/03 BO 56.86 +0.12 30.3 35.45 6.9M 12M 54.94
Current. Tested the 18 day MVA and rallied showing a doji on lower, below average volume. Tapped resistance at 57.49 at the day's high, but could not hold the gain.
ARTX 10/28 Test BO 2.06 +0.35 1.78 2.28 7.4M 1.5M 1.64
Current. Huge gap up at the open, but gave a good portion of it back on strong volume surge. Still in uptrend and moving up the 10 day
MVA.
AVID 08/09 Test 18 52.66 +0.2 0 0 349K 0 0
AVO 10/30 Cup hdl 19.44 -0.24 19.72 23.68 141K 359K 18.34
Buy Not Issued. Pull back on very low volume. Managed to retain all of last Thursday's great move.
BRKS 10/29 Cup 26.27 -0.51 27 32.38 800K 1.4M 24.74
Current. Volatile session with 27.12 at the high and 6.01 at the low showing a tight doji on below average volume.
CCRD 10/29 Test BO 19.46 +0.34 18.18 21.62 512K 153K 16.91
Current. Continue to climb the 10 day MVA on strong volume surge. Tapped 19.90 at the high, but gave it back
CHS 10/04 Dbl btm 37.78 -0.79 34.62 41.53 1.4M 1.8M 35.78
Current. Pull back on slightly above average volume. Still in an uptrend.
CYPB 09/24 Test 18 12.06 +0.22 8.61 10.65 471K 294K 11.94
Current. Tested the breakout and now ready for the next move up. Tested the 10 day MVA and rallied on stronger above average volume.
DIS 08/09 Test 50 22.75 -0.17 22.06 26.48 5.7M 9M 21.12
DKS 10/13 Cup 46.82 -0.18 44.68 55.38 201K 603K 45.22
Current. Narrow trading range showing a doji on below average volume. Still moving up the 10 day MVA.
EBAY 12/12 Test 18 57.75 +0.24 34.72 46 6.8M 12M 55.45
Current.
EBAY 10/15 Test 50 57.75 +0.24 31.22 46 6.8M 12M 55.45
Current.
EGOV 10/07 Test BO 5.85 +0.31 5.07 6.35 629K 264K 4.96
Current. Another great move up as the stock soars up the 10 day MVA on lower, but very strong volume.
EGOV 09/20 Cup hdl 5.85 +0.31 4.8 5.68 629K 264K 4.96
Current.
FL 10/11 A Wedge 18.21 +0.06 17.38 20.88 658K 1.4M 17.48
Current. Tapped 18 at the low and rallied showing a tight doji on below average volume. Stock continues to move up the 10 day MVA.
GEMS 10/22 Test BO 3.15 +0.03 2.87 3.72 314K 487K 2.78
Current. Volatile session with 3.22 at the high and 3.07 at the low. Beginning to make a lateral move above the 10 day MVA on below average volume.
GIGM 10/01 Cup hdl 3.18 +0.17 3.12 4.05 3.1M 2.7M 2.78
Current. Completed the test of the breakout and began to move back up the 10 day MVA on stronger above average volume.
GNSC 10/09 Test BO 3.2 +0.1 2.65 3.47 162K 175K 2.68
Current. Tested the 10 day MVA and rallied higher on average volume as the stock continues to move up the 10 day MVA.
GTRC 10/28 A Wedge 31.18 -1.41 36.42 43.72 936K 550K 34.15
Current. Stock continued to fall on the guidance warnings on stronger above average volume. Will wait for relief bounce to exit or continue the play if stock appears to be recovering.
INTC 10/23 Test 18 33.68 -0.36 32.7 39 41M 65M 32.02
Current. Slight pull back on below average volume. Still in uptrend and moving up the 10 day MVA.
IWM 10/27 Test 50 107.44 +0.15 103.55 107.5 2.4M 4.4M 103.88
Current. Continues to move up the 10 day MVA on below average volume.
JNPR 11/01 A Wedge 18.5 -0.05 18.38 22 7.6M 15M 17.22
Buy Not Issued. Continuing low volume ascent up the 10 day MVA. Have not entered the play because volume is not there.
JNPR 10/04 Test 50 18.5 -0.05 17.1 20.48 7.6M 17M 17.22
Current.
LCCI 10/08 Cup hdl 6 -0.16 6.08 7.62 16K 111K 5.85
Current. Continue low volume lateral move along the 18 and 10 day MVA.
LPNT 08/09 Rv H&S 25.4 -0.14 0 0 470K 1.3M 0
Buy Not Issued. Gapped down showing a tight doji on below average volume.
MTMD 11/01 Cup hdl 4.2 -0.08 4.16 5.19 355K 300K 3.81
Current. Gapped up at the open, but then gave back the move and then some on much lower, but still above average volume. Managed to retain most of yesterday's great move. Still in uptrend.
NOOF 11/01 Cup hdl 5.21 -0.12 5.27 6.32 342K 319K 4.75
Current. Pull back on much lower, but still above average volume. Still in good shape and moving up the 10 day MVA.
NOOF 10/25 Cup hdl 5.21 -0.12 4.78 6.21 342K 280K 4.54
Current.
NVLS 10/28 Test 50 44.45 +0.51 39.84 47.75 10M 9.5M 39.33
Current. Nice move up following yesterday's explosive move on strong volume. Stock continues to soar up the 10 day MVA.
NXG 10/15 Cup 2.15 +0.12 1.89 2.48 934K 684K 1.92
Current. Continue the move up the 10 day MVA for a nice gain on above average volume.
NXTL 10/02 Cup hdl 24.02 -0.44 20.76 24.95 14M 27M 23.02
Current. Pull back on slightly higher, but still below average volume. Testing the breakout.
NXTL 09/17 Cup hdl 24.02 -0.44 20.64 24.75 14M 24M 23.02
Current.
ONNN 10/28 Test 50 4.3 -0.08 4.65 5.88 1.1M 1.7M 4.42
Current. Continue low volume lateral move on the 50 day MVA.
OPSW 10/28 A Wedge 9.09 +0.67 8.95 10.95 1.3M 1M 8.32
Current. Entered the play as the stock bounced off the 10 day MVA for a nice move on stronger above average volume. Broke through resistance at 9.04.
PARS 10/11 Cup hdl 3.8 -0.02 2.94 3.88 1.1M 1.2M 3.75
Current. Tapped 3.97 at the day's high, but gave it back to close on the 10 day MVA on below average volume. Beginning to make a lateral move along the 10 day MVA.
PDYN 09/29 DB hdl 3.39 +0.14 2.55 3.24 436K 450K 3.15
Current. Great move up off the 18 day MVA on strong above average volume. Broke out from handle.
PUMA 10/27 A Wedge 7.37 -0.14 7.34 9.06 1.4M 1.4M 6.83
Current. Gapped up at the open, but gave back the move and then some of average volume. Stock continues to move up the 10 day MVA.
QLGC 10/14 Rv H&S 57.04 -0.57 52.88 63.38 3M 7M 54.38
Current. Pull back on below average volume. Still in the uptrend and moving up the 10 day MVA.
QQQ 10/25 Test 50 35.52 -0.24 34.38 36 60M 100M 34.68
Current. Pull back on much lower, below average volume. Still in an uptrend.
RIC 10/21 Cup hdl 4.61 -0.23 5.25 6.78 147K 140K 4.8
Current. On the news of bad earnings the stock thudded down to close above the simple 50 day MVA on stronger above average volume. Held at support and will look for a relief bounce to either exit or continue the play if stock recovers.
SBUX 07/30 Cup 31.57 -0.14 30.35 36.75 2.2M 6M 30.54
Current. Continue lateral move above the 10 day MVA on below average volume. Tapped 31.95 at the day's high, but could not hold the gain.
SBUX 07/01 Cup 31.57 -0.14 26.3 30.94 2.2M 6M 30.54
Current.
SINA 10/24 Test 50 41.23 +0.29 41.55 50 6.9M 15M 39.42
Current. Narrow trading range showing a doji on below average volume. May be ready for next move up.
SINA 09/09 Cup 41.23 +0.29 36.15 41 6.9M 12M 37.55
Current.
SINA 08/18 Test 50 41.23 +0.29 32.2 38.25 6.9M 10M 37.55
Current.
SOFO 10/02 Test BO 2.45 +0.11 2.05 2.74 238K 395K 2.14
Current. Bounced off the 10 day MVA on below average volume. Continues to move up the 10 day MVA.
TELM 09/30 Test BO 1.52 -0.09 1.51 2.04 3.2M 7M 1.48
Current. Apparently from the after market announcement yesterday of the reverse stock split the stock fell below the 18 day MVA on higher, but still well below average volume. Tapped support at 1.50, but rallied. May test further.
TGT 08/09 Flat 39.44 -0.42 41.45 50 2.7M 5.7M 38.74
TRA 10/18 A Wedge 2.75 -0.02 2.39 2.98 161K 205K 2.45
Current. Continue lateral move above the 10 day MVA on below average volume.
TSCO 07/29 Test BO 43.44 -0.05 28.06 31.44 311K 494K 39.74
Current. Narrow trading range showing a tight doji on below average volume. Stock continues to move up the 10 day MVA.
TSCO 06/03 Rv H&S 43.44 -0.05 23.42 27.62 311K 603K 39.74
Current.
TSCO 04/24 Cup hdl 43.44 -0.05 21.88 26 311K 603K 39.74
Current.
TSCO 04/03 Rv H&S 43.44 -0.05 19.3 22.19 311K 577K 39.74
Current.
VOD 10/28 Cup hdl 20.78 -0.3 21.45 25.75 3.8M 2.8M 20.81
Current. Gapped down below the 18 day MVA at the open showing a tight doji on strong above average volume. Looking for a bounce from here. No apparent news cause the fall.
WFII 10/31 Cup hdl 18.39 -0.05 17.24 20.62 3.7M 1M 15.96
Current. Gapped down and then tapped 17.50 at the day's low to rally on stronger above average volume. Still in uptrend. Managed to retain almost all of yesterday's great move.
WHT 10/30 Cup hdl 2.28 +0.03 2.34 3.05 3.3M 4.9M 2.15
Buy Not Issued. Tested the 10 day MVA and rallied on below average volume. Still moving up the 10 day MVA.
WMGI 09/10 Flat 29.61 -0.44 26.26 31.48 254K 400K 28.07
Current. Pull back on lower, but average volume. Still in uptrend and moving up the 10 day MVA.
YHOO 10/20 Test BO 43.43 -0.5 43.03 51.75 8.4M 15M 41.44
Buy Not Issued.
YHOO 09/22 Test BO 43.43 -0.5 37.95 45.25 8.4M 15M 41.44
Current. Pull back on below average volume. Still in good shape.
YHOO 09/04 Rv H&S 43.43 -0.5 34.9 42 8.4M 20M 41.44
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AAI 11/01 H&S 16.52 -0.06 16.04 14 1.1M 250K 16.62
Buy Not Issued. Tapped support at 16 intraday and rallied to hold on the 50 day MVA on below average volume. Looks ready to roll over from here.
End part 2 of 3
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