Quick Summary:
SPY holds 50 dma for third day. New focus list stocks NILE and GNC. GPRO after hours remount analysis. Breakouts additions ACHC and TTWO
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Video Analysis:
Today's Report is in video format with a written summary below (9 minutes).
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Video Notes:
The overall game plan is to continue to monitor SPY at the 50 dma, and watch key focus list stocks GPRO, BIDU, NILE, TTWO along with breakouts. Discussion of today's entry alert ACCO and playing the bottom of the breakout bar and/or gap fill.
Indexes
The indexes are still basically in or at the top of ranges that are developing. QQQ near highs, IWM remounts the 200 dma today and SPY continues to hold the already remounted 200 dma.
The gameplan for the indexes is to stalk a good entry for $SPY (using SPXL). Continue to watch focus list and breakout stocks. GPRO is up 5 points after hours. That would put it above the moving average we have been watching for remount. We will watch for good entry tomorrow morning.
New Breakouts
Two new breakouts added to the watchlist: TTWO, ACHC
Yesterday's breakouts are starting the process of forming ranges, but not at entry levels yet. RFMD,ACCO,AMED,X,TQNT,AN,TRNX,MSG,RCPT,VDSI,BCOR,CATM,BWLD
Focus List
Focus list stocks are within range or testing highs--still waiting for pullbacks $MEG, $LULU, $BIDU, $BITA, $GMCR, $LOCO, $MNST, $YY, $PANW, $ACOR
Two new stocks added to the focus list. They are breakouts, but I am putting htem with the focus list rather than breakout list because they are bottoming and remount plays: GNC and NILE
Click on tickers to see thumbnail charts. Full analysis in video.
Please read the post 23 Laws of the Part Time Swing Trading the Market Speculator Way and How to Analyze Your Swing Trade Results It is important to know these rules if you trade off the Report.
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