Rock Me Like a Hurricane $SPY $QQQ $IWM

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Here we are at the 50 DMA in S&P 500, Russell 2000 and Dow Jones. NASDAQ through it, but after a big volume flush Tuesday, is now on watch for a possible reversal through Wednesday's high. Otherwise, a test of these significant moving averages until confirmation that the support is real is simply that, a test which makes buyers here bottom fishers until further notice.
3 scenarios to watch for: 1. SPY holds the 50 DMA and breaks above 10/10 high with accumulation in volume. 2. Ditto in DIA and/or IWM 3. After the possible flush Tuesday in QQQ, that also clears Wednesday's high with accumulation in volume.

NASDAQ 100 (QQQ) Subs: AAPL R1 and today's high line up again, only now with positive pivots

ETFs:

GLD The longer this holds above 170.05 the better. That will keep 09/26 price action an island bottom. Confirmation of that would be a move above Wednesday high. SLV 32.40 is the support with a similar scenario to GLD

XLF (Financials) Tested and held the fast moving average. Through 16.02 impressive

IBB (Biotechnology) Keeping out its way for now. 140 support

SMH (Semiconductors) Ughh

XRT (Retail) Subs: Over today's high could get interesting

IYT (Transportation) Subs: Now that it is no longer overbought, won't touch until it clears the 50 DMA

IYR (Real Estate) Some signs of life. Subs: Over today's high, is R1 and the 10 DMA

USO (US Oil Fund) Subs: SCO unconfirmed phase change to accumulation with today's low max risk

OIH (Oil Services) Boxed in a range over last 6 trading days-would follow the way that range breaks.

XLE (Energy) Back over the 50 DMA could see a pop-but now left a gap from yesterdays low

REE (Rare Earth Element) Subs: Looking at 4.72 to clear

Longs: On categories: Gap higher days we go to all categories and choose ones with lowest risk that break the opening range. On weaker days, we look at Category 3, especially if the picks hold S1, previous day lows or a major moving average and have a good risk on the reversal. The difference between Category 1 and 2 is the stock condition-a Condition 1 is strongest stock and more likely to make a parabolic move.
Note: Anything that is on this list is a candidate for a swing trade-(of course market condition is a factor) -use the max risk mentioned along with an opening range stop using fudge factor and time confirms. I suggest you decide on 1 or 2 that have a risk you like and then position size accordingly.

Category 1: (Aloha) Positive Phase, Condition 1, 2 days under the FTPs, Risk to Previous Day low, Can buy ½ over FTP and ½ over R1, Target- Day to at least 3 ATRs from entry:

FLS Reports 10/25. Landed on the 10 and 50 DMAs. 128.40 is a good tight risk, the pivots

TROW Reports 10/24. 63.54 max risk. Also really needs to clear 64.50 to stick

Category 2: (Pipeline) Positive Phase, Condition 2-3, 2 days under the FTPs, Risk to Previous day low, Can buy ½ over FTP and ½ over R1, Target- Day to at least 3 ATRs from entry:

GDX Golden Cross. Max risk today's low ad R1 todays high line up

MDC Reports 10/30. Inside day making today's low max risk. R1 and todays high line up.

ULTA Inside day. R1 and today's high plus the 10 DMA line up

VFC Reports 10/23. Today's low max risk

Category 3: (Double Up) Positive Phase, Condition 1 through 4, Positive Pivots which means can either buy a opening range breakout or candidate for Opening Range Reversal, with Risk S1 or previous day low, whichever is lower unless noted differently, Target- Day to at least 3 ATRs from entry:

MTH Reports 10/25 Held the 10 DMA outperformed. Like to see 40.20 hold

SIG Closed under pivots but stacked positive. Max risk 49.00

RRC Reports 10/24. Now should hold 69.80. Through 70.59 could run before earnings

GS Reports 10/16. Inside day. Today's low good risk

DB Reports 10/30. Inside day. R1 and today's high line up. Max risk today's low

PCYC Inside day. Reports 11/7. Over todays high lines up with the 10 DMA

SINA Like to see 61.20 area hold. 62.75 the 10 DMA resistance to clear

Category 4: (Rip Tide) Oversold (2 or more days under FTP), Condition 4, Needs to clear R1, Risk previous day low unless noted differently, Target- Day to at least 3 ATRs from entry:

SWK Reports 10/17. Very close to the 50 and 200 DMAs for max risk. Today's high and R1 line up

Phase Change: XEC Unconfirmed phase change to recovery. Today's low max risk

Shorts:

Category 5: Titanic-Bear Phase, Negative pivots, not oversold, Risk R1 or previous day high. Target: Day to swing

BHI Reports 10/19. Like to see this stay under 44.50 with gap to fill to 42.31

PXP Reports 11/1. Inside day. 36.95 good max risk

RIG Reports 10/29. Inside day and has to break S1 45.14.

SCHN Reports 10/25. Like to see this stay beneath the pivots.

SLB Reports 10/19 Like R1 or today's high max risk. Unconfirmed phase change to Distribution

EWZ 53.95 now good risk

Category 6: White Cap-Having a 2-3 Day correction over the pivots. In a Negative Phase, Positive Pivots. Can sell an Opening Range High Failure if happens below R1 or previous day high whatever is higher and/or weakness if breaks S1 and prior day's lows

AU Today's high max risk. Could be bear flag forming. Inside day

Bye for Now!

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