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stock market today, stock market investment
Begin part 2 of 3
New plays contained in part 3.
Support and Resistance
NASDAQ: Closed at 1984.50
Resistance: 1990 to 2000, the top of the late 2003 base. 2050 represents some prior price points and has stopped NASDAQ the last time it tried that level. Breakout from the pattern is 2080. 2089 is the February closing high. 2112 is the early January high.
Support: The simple 50 day MA (1972) and 50 day EMA (1965). The 200 day SMA (1955). 1900 to 1890. The April lows (1880, 1878). 1850 below that. Some price tops at 1777, 1750.
S&P 500: Closed at 1121.28
Resistance: 1125 stalled the last bounce attempt. The April and January highs (1150 to 1155). Next is 1159 (February highs) and 1160 to 1175 the highs in that double top that spanned late 2001, early 2002.
Support: The exponential 50 day MA (1113) is not totally broken, and the simple 50 day MA (1117). The 18 day EMA (1105). 1106 is a May 2002 top and represents some early 2001 lows. 1096 to 1100. The 200 day SMA (1084). April lows (1079, 1076). 1075 to 1070 from the December consolidation. 1058 - 1060 from November tops.
Dow: Closed at 10,205.20
Resistance: The 50 day EMA (10,216). The simple 50 day MA (10,249) and price resistance at 10,250. 10,570 is the April high. Price consolidation at 10,600 level. 10,747 is the February high.
Support: The 18 day EMA (10,094). The 200 day SMA (10,059). March low (10,007). 9900-9850.
Economic Calendar
These are consensus expectations. Our expectations will vary and are discussed in the 'Economy' section.
5-25-04
Consumer confidence, May (10:00): 93.2 actual, 94.0 expected, 93.0 April (revised from 92.9).
Existing home sales, April (10:00): 6.64M actual, 6.45M expected, 6.48M March.
5-26-04
Durable goods orders, April (8:30): -2.9% actual, -0.8% expected, 5.7% March (revised from 3.4%).
New homes sales, April, (10:00): 1.09M actual, 1.2M expected, 1.239M March (revised from 1.228M).
5-27-04
GDP, Q1 second revision (8:30): 4.4% actual, 4.5% expected, 4.2% prior.
GDP chain deflator (8:30): 2.6% actual, 2.5% expected, 2.5% prior.
Initial jobless claims (8:30): 344K actual, 335K expected, 347K prior (revised from 345K).
5-28-04
Personal income, April (8:30): 0.5% expected, 0.4% March.
Personal spending, April (8:30): 0.2% expected, 0.4% March.
Michigan revised sentiment, May (9:45): 94.2 expected, 94.2 prior.
Chicago PMI, May (10:00): 62.0 expected, 63.9 April.
CONTINUING PLAYS
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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
ABM 05/17 Flat 19.07 -0.01 18.99 21.85 145K 185K 18.39
Current. Pull back tapping 18.91 at the low and rallied on slightly higher, but still only average volume. Beginning to make a lateral move above the 10 day MVA.
AKAM 05/26 DB hdl 14.86 +0.01 15.25 18 1.8M 4.8M 14.18
Buy Not Hit. Showing a doji on low volume as stock begins to make a lateral move.
ANF 05/22 Cup hdl 36.07 +0.1 35.25 40.55 1.3M 2.7M 33.38
Buy Not Issued. Tapped 36.84 at the high, but gave most of it baack showing a doji on lower, below average volume. Beginning to make a lateral move.
ATRM 05/08 Test BO 8.89 +0.43 8.82 10.55 579K 177K 7.94
Current. Tested the 10 day MVA and rallied for a great move up the 10 day MVA on stronger above average volume. Needs to break through resistance here.
BEIQ 05/08 Cup 27.26 +2.62 24.12 28 475K 124K 23.02
Current. Explosive move up the 10 day MVA making a 52 week high on very strong volume surge.
BEV 05/17 DB hdl 8.25 +0.14 8.52 10.25 696K 2.5M 7.92
Buy Not Hit. Continue to move up the 10 day MVA for a nice gain, but on low volume. Needs to break through resistance here.
BLUD 05/18 Test BO 31.1 -0.01 27.49 32 236K 500K 26.68
Current. Tapped 30.10 at the intraday low and rallied showing a doji as stock begins to make a lateral move.
BRCM 05/24 Flat 42.63 +0.37 41.44 47.42 9.2M 13M 39.38
Current. Continue with uptrend on slightly above average volume.
CEN 05/25 Cup hdl 22.22 -0.17 22.58 26 582K 1.1M 21.45
Buy Not Hit. Pull back showing a tight doji on rising, but only average volume. Doji may indicate a change in pattern.
CNTY 05/22 Test BO 5.5 -0.1 5.52 6.82 349K 145K 4.98
Current. Gapped up at the open, but gave it all back tapping 5.29 at the low and rallied on lower, but still above average volume. Routine pull back.
CYBS 05/13 Test BO 8.83 +0.11 8.35 9.95 631K 645K 7.68
Current. Continue with uptrend showing a tight doji on rising, but only average volume. Came off the day's high of 9.35. Doji may indicate a change in pattern.
DJO 05/22 Cup hdl 23.45 -0.02 26.22 30.24 122K 466K 24.38
Buy Not Hit. Continue with lateral move showing a doji on the 50 day MVA on very low volume. The stock has not performed so will drop.
EBAY 03/06 Flat 88.05 +1.6 71.78 82.25 10M 10M 78.02
Current. Continue with uptrend on stronger above average volume.
EBAY 12/12 Test 18 88.05 +1.6 34.72 46 10M 12M 78.02
Current.
EBAY 10/15 Test 50 88.05 +1.6 31.22 46 10M 12M 78.02
Current.
EEFT 05/10 Asc Tri 22.95 +0.52 20.67 24.75 233K 425K 21.08
Current. Tapped 22.27 at the low and rallied up the 10 day MVA on rising, but still below average volume. Made a 52 week high.
EGLS 05/18 Dbl btm 5.11 -0.06 5.09 6.18 163K 212K 4.68
Current. Gapped up at the open, but gave it all back tapping 5 at the low and rallied on slightly high, but average volume. Routine pull back after nice run.
ELN 05/25 Test 50 23.08 +0.32 23.02 27 5.6M 10M 21.41
Current. Tested the 10 day MVA and rallied on rising, but below average volume. Needs to break through resistance here.
EW 05/19 Cup hdl 36.38 +0.65 35.77 41 448K 722K 34.28
Buy Not Issued. Continue to move up the 10 day MVA on low volume. Looking for a low volume pull back before we could enter the play.
GNSC 04/28 Dbl btm 4.25 +0.01 4.02 4.98 162K 172K 3.81
Current. Gapped up at the open, but gave most of it back tapping 4.15 at the low and rallied on lower, but still above average volume. Beginning to make a lateral move.
HLEX 05/06 Cup hdl 15.58 0 14.64 17.55 182K 300K 14.12
Current. Tapped 15.27 at the low and rallied showing a doji on lower, below average volume. Still in the pattern.
IDSY 05/05 Test BO 10.8 -1.11 10.48 12.54 308K 123K 11.12
Trailing Stop. Tanked below the 18 day MVA on stronger above average volume.
LPNT 05/12 Cup hdl 37.24 -0.45 37.38 43 941K 700K 36.04
Current. Tapped 38.88 at the high, but gave it all back testing the 10 day MVA and rallied on stronger above average volume. Needs to break through resistance at 37.69.
MACE 05/26 Test 50 5.54 -0.69 6.39 9 12M 4M 5.94
Buy Not Issued. Took back most of yesterday's nice move on slightly lower, but still above average volume. Needs to hold here or will look to drop.
NABI 04/05 Asc Tri 16.95 +0.25 16.68 20.25 492K 950K 16.38
Current. Tapped 16.62 at the low and rallied up the 10 day MVA on slightly lower, below average volume.
NAVR 04/09 Flat 12.84 +1.71 7.43 9.12 4.4M 733K 9.88
Current. Explosive move up the 10 day MVA on excellent volume surge.
NTRT 05/11 Cup hdl 13.71 +0.19 13.55 16.25 124K 175K 12.88
Buy Not Issued. Gapped down at the open and rallied up the 10 day MVA on below average volume. Did not enter the play, because volume was not there.
NXTP 05/12 Cup hdl 16.1 +0.12 15.36 18.22 5.2M 3M 14.38
Current. Tapped 15.71 at the intraday low and rallied showing a tight doji as stock moves up the 10 day MVA on much stronger above average volume. Doji may indicate a change in pattern.
OLGC 04/29 Dbl btm 8.05 -0.12 8.58 10.25 73K 295K 8.05
Buy Not Issued. Gapped down and moved down below the 18 day MVA on low volume. Needs to hold here or will look to drop.
RHAT 05/18 Asc Tri 27.36 -0.34 27.32 31.25 4.2M 7M 25.36
Current. Routine pull back on low volume after break out.
RHB 05/24 Cup hdl 24.46 +0.46 24.33 27.98 77K 212K 22.72
Buy Not Hit. Continue with low volume ascent. Have not entered the play, because volume is not there.
SBUX 07/30 Cup 40.02 +0.35 30.35 36.75 4.3M 6M 38.12
Current. Gapped up at the open showing a doji on stronger above average volume. Made a 52 week high. Doji may indicate a change in pattern.
SBUX 07/01 Cup 40.02 +0.35 26.3 30.94 4.3M 6M 38.12
Current.
SMF 05/20 Cup hdl 15.65 +0.15 14.74 17.55 211K 121K 13.71
Current. Continue with uptrend on lower, but still strong volume.
SMRT 05/18 DB hdl 14.3 +0.16 14.18 17 193K 337K 13.32
Buy Not Issued. Continue to move up the 10 day MVA on rising, but still below average volume. Have not enter the play, because volume is not there.
SMTC 05/26 Dbl btm 25.23 +0.54 25.24 29 908K 1.7M 23.47
Buy Not Hit. Continue to move up 10 day MVA on much lower, below average volume. Volume needs to increase.
SNTS 05/24 Cup hdl 14.15 +0.15 13.25 15.98 90K 135K 12.32
Current. Continue to move up the 10 day MVA on low volume.
SONE 05/05 Cup hdl 9.53 -0.15 9.72 11.88 519K 625K 9.04
Current. Pull back tapping 9.33 at the low and rallied on lower, but still above average volume. Routine pull back.
TGT 08/09 Flat 44.41 +0.76 41.45 50 3.6M 5.7M 44.28
TWW 05/24 Cup hdl 0.94 -0.01 1.06 1.39 819K 468K 0.99
Buy Not Hit. Gapped down tapping 0.86 at the intraday low and rallied showing a tight doji on stronger above average volume. Doji may indicate a change in pattern.
ULGX 05/21 Test BO 14 +0.2 11.97 14.16 313K 228K 11.13
Current. Continue with uptrend on stronger above average volume.
USPI 05/03 Cup 38.5 +0.2 36.88 42.75 247K 370K 35
Buy Not Issued. Continue with low volume ascent. Have not entered the play, because volume is not there.
VRSN 05/25 DB hdl 18.14 -0.44 18.92 22.65 3.3M 3.9M 17.62
Buy Not Hit. Pull back testing the 10 day MVA and rallied on lower, but still above average volume. Still in good shape.
VXGNE 04/28 Cup hdl 15.58 -0.13 14.98 17.25 5.2M 1.1M 15.05
Current. gapped up at the open, but gave it back on lower, but average volume. Needs to break through resistance at 16.36.
VXGNE 04/19 Cup hdl 63.08 0 13.58 16.15 5.2M 1.1M 15.05
Current.
WMB 05/04 Cup hdl 11.93 +0.2 11.08 13.25 3.4M 5.4M 10.55
Current. Moving up on lower, below average volume. Needs to break through resistance at 11.94.
WOOF 02/23 Cup hdl 43.61 +0.03 31.24 37 233K 296K 40.58
Current. Continue to move up the 10 day MVA showing a doji on much lower, below average volume.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
BLL 05/17 Put 67.12 +0.93 63.88 60.51 324K 400K 65.05
Buy Not Hit. Rallied on rising volume holding the simple 50 day MVA. The stock has not made the move we were looking for so will drop.
EMIS 05/10 Put 5.2 -0.01 4.98 4 124K 145K 5.32
Current. Beginning to make a lateral move under the 10 day MVA on above average volume.
MCO 05/13 Put 65.44 -0.24 63.15 60.42 448K 804K 64.42
Current. Moved down holding the 50 day MVA on much lower, below average volume. Needs to break through support here.
ONNN 05/19 Put 5.39 +0.38 5.05 4.05 4.4M 5M 5.15
Exited. Rallied above the 10 day MVA on much stronger volume
SEM 05/23 Put 13.46 -0.04 13.11 11.05 842K 2M 14.02
Buy Not Hit. Tapped 13.74 at the intraday high, but gave it back showing a doji under the 18 day MVA on low volume.
VSH 05/08 Put 18.61 +0.61 18.45 16.55 4.1M 2.6M 18.62
Current. Rallied on stronger above average volume holding below resistance at 18.63.
End part 2 of 3
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stock market today
stock market investment
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