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stock market investment, stock market information
Begin part 2 of 3
Part 3 containing new plays and full write-ups will be forwarded later today.
Support and Resistance
NASDAQ: Closed at 1942.20
Resistance:
The 200 day SMA at 1964
January/late June down trendline at 1980
Price resistance at 2050
Support:
Recent September high at 1921
The 2004 down trendline at 1900
September gap up point at 1894
The 50 day EMA at 1882
The October 2002/March 2003 up trendline at 1872
The 50 day SMA 1855
S&P 500: Closed at 1131.50
Resistance:
1125 to 1130 stalled the last move.
1130 is the March/June down trendline.
1142-1146 are the June highs.
The April and January highs (1150 to 1155).
1159 (February highs) and 1160 to 1175 the highs in that double top that spanned late 2001, early 2002.
Support:
The 200 day SMA at 1118
The 50 day EMA at 1110
The 50 day SMA at 1102
1096 to 1100 represent price support.
May low at 1084 (closing) to 1076 (intraday).
1080 (May and July lows).
1062 - 1058 from November 2003
Dow: Closed at 10,192.65
Resistance:
The February/June 2004 down trendline at 10,275
The 200 day SMA at 10,298
Late April, June peaks at 10,478 to 10,512
10,570 is the early April high
Price consolidation at 10,600 level
10,747 is the February high
Support:
The 50 day EMA at 10,156
9980 to 10,000 held as support Tuesday.
9900 is some support from the May and July lows.
9783 to 9793, the August lows.
Economic Calendar
These are consensus expectations. Our expectations will vary and are discussed in the 'Economy' section.
October 04
Factory Orders, August (10:00): 0.1% expected and 1.3% prior
October 05
ISM Services, September (10:00): 59.0 expected and 58.2 prior
October 07
Initial Jobless Claims, 10/02 (8:30): 350K expected and 369K prior
Consumer Credit, August (3:00): $5.9B expected and $10.9B prior
October 08
Non-farm Payrolls, September (8:30): 140K expected and 144K prior
Unemployment Rate, September (8:30): 5.4% expected and 5.4% prior
Hourly Earnings, September (8:30): 0.2% expected and 0.3% prior
Average Workweek, September (8:30): 33.8 expected and 33.8 prior
Wholesale Inventories, August (10:00): 0.8% expected and 1.3% prior
CONTINUING PLAY TABLE:
* * SPREADSHEET DOWNLOAD * * *
The following link is to a spreadsheet download of the continuing play table. It will allow subscribers to sort the data for your personal investment use. This is a service to our subscribers only, and no other use of the information is authorized. Simply click on the link, enter your username and password, and download the spreadsheet!
http://www.technicaltraders.com/ttr/table.php
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=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; Dsc Tri=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
AMMD 09/30 Test BO 36.8 +0.53 36.04 42 363K 250K 35.65
Current. Gapped up at the open showing a doji on lower, but still strong volume. Made a 52 week high.
AMMD 09/14 DB hdl 36.8 +0.53 33.64 38.25 363K 250K 35.65
Current.
BDX 09/13 Cup hdl 52.85 +1.15 52.68 57.88 1.2M 1.5M 61.97
Entered today. Another great move up the 10 day MVA on lower, but still very strong volume.
CHK 09/25 Rv H&S 16.08 +0.25 16.08 19.15 2.7M 2.5M 15.55
Entered today. Tested the 10 day MVA intraday and rallied back for a nice gain on stronger above average volume.
CRXL 09/29 Pennant 8.55 +0.47 8.42 10.09 219K 175K 8.24
Entered today. Explosive move on excellent volume surge.
DGII 09/30 Cup hdl 11.93 +0.5 11.97 14.98 277K 206K 11.59
Current. Big gap up at the open and continued to soar on lower, but still very strong volume.
ECL 09/25 Cup hdl 31.75 +0.31 31.68 36.55 857K 952K 30.55
Buy Not Issued. Continue to move up the 10 day MVA on much lower, but still above average volume. Volume was not there to enter the play. With Thursday action of pulling off the day's high with such strong volume decided to wait for a clear and decisive move. Still a buy on Monday if the move continues with volume.
FLS 09/16 Cup hdl 24.5 +0.32 24.44 28.48 388K 415K 23.62
Buy Not Issued. Tested the 10 day MVA intraday and rallied back on stronger above average volume. Not enough volume to enter the play. If move continues on Monday with more volume will still be a buy.
HRS 09/27 Test BO 56.12 +1.18 54.88 60 445K 600K 55.08
Current. Continue the uptrend for a nice gain on lower, but still above average volume. Made a 52 week high.
JCOM 09/29 Cup 32.23 +0.64 32.25 37.65 729K 850K 31.35
Entered today. Nice move up the 10 day MVA on lower, but still above average volume.
JUPM 09/29 BO 17.31 -0.49 17.57 21 735K 550K 16.88
Buy Not Issued. Pullback on much lower, but still above average volume. May test back to the 10 day MVA.
KMRT 08/18 Dbl btm 88.06 +0.59 80.22 92 1.1M 3.6M 87.88
Current. Making a lateral move on lower, below average volume.
LH 09/20 DB hdl 43.7 -0.02 43.59 49.68 730K 750K 42.98
Current. Making a lateral move showing a doji on rising, but average volume. May be ready for a breakout.
LMT 08/23 DB hdl 56.32 +0.54 54.81 59.98 2.8M 2.8M 55.45
Current. Continue to move up the 10 day MVA on excellent volume surge.
NSS 09/30 Cup hdl 18.73 +0.23 18.72 22.55 123K 287K 17.54
Buy Not Issued. Volume was not there to enter the play. Need decisive move with volume. Still a buy on Monday if volume comes in.
OIS 09/15 Test BO 18.94 +0.24 18.05 21.21 443K 290K 18.43
Current. Tested the 10 day MVA intraday and rallied back for a nice gain on stronger above average volume. Looking good.
OMC 09/28 Cup 73.8 +0.74 74.15 78.25 1.5M 1.3M 72.98
Entered today. Nice move up the 10 day MVA on strong volume surge.
OPTV 09/27 Test BO 3.16 +0.11 3.15 4.25 379K 525K 2.93
Buy Not Issued. Bounced off the 10 day MVA for a nice gain on rising above average volume. Volume was not there to enter the play, but if move continues tomorrow with good volume will still be a buy.
QCOM 09/02 FlyPlat 40.45 +1.41 38.82 45 15M 11M 38.88
Current. Tested the 10 day MVA intraday and rallied back for a great move on average volume.
SIMG 09/21 DB hdl 14.4 +1.76 13.29 15.98 4.9M 1.5M 13.98
Entered today. Explosive move on excellent volume surge.
STJ 09/22 Test 20 74.98 -0.29 72.78 76.85 1.2M 1.5M 74.98
Current. Pullback on much lower, but average volume. Making a lateral move.
TDS 09/24 FlyPlat 84.49 +0.32 84.68 100 186K 265K 83.72
Current. Continue with uptrend on stronger above average volume.
TDS 08/02 FlyPlat 84.49 +0.32 77.46 82.38 186K 265K 83.88
Current.
TIBX 09/29 DB hdl 8.97 +0.46 8.85 10.65 5.4M 3.5M 8.67
Entered today. Explosive move up the 10 day MVA on excellent volume surge.
VRNT 09/04 Dbl btm 37.83 +0.99 33.58 38.36 173K 216K 37.55
Current. Another nice move up the 10 day MVA on lower, but still above average volume.
WCN 09/11 Test BO 31.52 -0.16 30.69 34.22 395K 350K 30.97
Current. Tapped 32 intraday, but gave it back on stronger above average volume. May test back to the 10 day MVA.
WITS 09/25 Test BO 16.96 +0.89 16.94 19.87 373K 543K 16.28
Entered today. Gapped up at the open and continued to explode higher on rising, but average volume. Making a 52 week high.
WYNN 09/18 Cup hdl 50.98 -0.71 45.38 53 683K 558K 51.38
Current. Pullback on much lower, but still above average volume. Beginning to make a lateral move.
YHOO 10/01 Cup hdl 35.03 +1.12 34.85 41 22M 30M 33.88
Entered today. Gapped up at the open filling in the gap intraday as stock made an explosive move on lower, but still above average volume.
YHOO 09/02 Cup 35.03 +1.12 32.48 36 22M 25M 33.97
Current.
ZBRA 08/25 Dbl btm 60.32 -0.69 56.45 60 727K 425K 59.88
Current. Volatile session testing the 18 day MVA intraday and rallied back on stronger above average volume. May test back to support at 60.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ACDO 09/30 Put 23.68 +0.11 23.55 21.55 841K 1.1M 24.04
Current. Relief bounce testing the 10 day MVA intraday, but could not hold the gain on low volume. Has made the test & now ready to fall.
ALTR 09/25 Put 20.26 +0.69 19 17.38 8.1M 10M 19.44
Exited. Gapped up at the open and continued to rally on stronger above average volume.
BBOX 09/24 Put 37.96 +1.01 37.24 35 129K 175K 37.85
Exited. Rallied holding above the 10 day MVA on lower, below average volume.
CENT 09/27 Put 32.39 +1.77 29.61 27.88 141K 200K 30.05
Buy Not Hit. Continue to rally on lower, but average volume holding above the 50 day MVA. The stock has not made the move we were looking for so will drop.
CGNX 09/30 Put 27.32 +1.12 26.55 23.88 505K 750K 27.48
Buy Not Hit. Rallied testing the simple 50 day MVA intraday, but could not hold the gain on continued low volume. Watching for it to fail here.
CHKP 09/22 Put 18.41 +1.44 17.87 16.35 6.4M 3.5M 17.38
Exited. Rallied hard on strong volume surge holding above the simple 50 day MVA.
EYE 09/22 Put 21 +0.4 19.98 17.78 305K 485K 20.48
Current. Rallied testing the 50 day MVA intraday, but could not hold the gain on rising, but below average volume. This is where it needs to fail.
HNI 09/25 Put 40.39 +0.81 39.31 37.81 87K 163K 39.95
Buy Not Issued. Gapped up at the open and continued to rally holding over the 200 day MVA on lower, below average volume. The stock has not made the move we were looking for so will drop.
IDXX 09/28 Put 51.23 +0.49 48.47 46 327K 300K 49.55
Buy Not Hit. Continue to rally showing a doji on the 50 day MVA on stronger above average volume. Doji may indicate a change in pattern. The stock has not made the move we were looking for so will drop, but will keep our eye on it.
JCP 09/18 Put 35.38 +0.1 35.97 34.15 4.3M 3M 35.55
Current. Modest elief bounce on lower, but still above average volume. Failed to rally w/market a key sign of weakness.
KCP 09/27 Put 27.65 -0.49 28.75 27 497K 126K 27.88
Current. Another great move down the 10 day MVA on very strong volume surge.
OEX 09/22 Put 543.11 +8.25 535.33 522 1.6M 1.3M 533.68
Exited. Big rally on lower, but still above average volume.
SOX 09/25 Put 401.91 +17.71 377.28 355 0 0 383
Exited. Big rally holding above the 50 day MVA on average volume.
UVN 09/27 Put 31.81 +0.2 31.31 29.54 1.4M 1.5M 31.65
Current. Rallied to the 18 day MVA on the high but backed off to close right at the 10 day. Lower volume so still looks as if it will fade after this test of the downtrend.
End part 2 of 3
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stock market investment
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