Tuesday, March 10, 2015

Tuesday lower

The Hoot 
Actionable ideas for the busy trader delivered daily right up front
  • Tuesday lower.
  • ES pivot 2075.42.  Holding below is bearish.
  • Rest of week bias uncertain technically.
  • Monthly outlook: bias higher.
  • Single stock trader: VZ may be a buy soon.

Bah - I blew Monday's call badly and what's worse I had a bunch of errands to run all day long and never really got a chance to play Stock Market.  I hate it when Real Life (TM) gets in the way of stock trading.  So I guess it's time for another Reader's Digest Condensed Night Owl - we cut right to the chase because that's all the time I have left tonight.

The technicals

ES daily pivot: Tonight the ES daily pivot falls again from 2079.92 to 2075.42.  We remain below the new pivot so this indicator remains bearish.


Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    8      6       4           1       0.563    627
February   6      4       5           3       0.692    183
March      1      2       1           2       0.600     52

     And the winner is...

Hard to say - the indicators are all oversold now but we remain in a downtrend and have yet to get a good reversal candle.  Monday's rally could be just a relief rally and I'm not liking the overnight ES action.  I do think we're close to an end of the week-long decline but I'm not sure it will be Tuesday.  So I'm going to stick to my guns and call Tuesday lower.

Single Stock Trader

I believe VZ is nearing a bottom now but I'm not quite ready to get back in just yet.

No comments:

Post a Comment

Due to some people who just won't honor my request not to post spam on my blog, I have had to re-enable comment moderation. Comments may take up to 24 hour to appear, depending on when they're made. Sorry about that.