3 Stocks to Watch
The market is clearly winding up for a major breakout opportunity, as evidenced by the 1,000 point triangle that’s building out in the $DJI. I’ve got three stocks to watch that are poised to move once direction is decided.
Action Levels for the ES for 7/20
The ES played extremely well off our Action Levels yesterday, as two decent sell opportunties led to moves of 12 and 9 points. Given yesterday’s relatively quiet trading day, we could see another explosive breakout/trend day upon us. Let’s take a look at the levels to watch for today’s trading.
Action Levels for the ES
After Friday’s decline, the ES could be on the verge of much more selling pressure ahead. Take a look at the action levels that I’ll be looking to play today.
Buy $TPX and Sleep Tight
Tempur-Pedic ($TPX) looks like a buy – both as a stock and as a mattress. $TPX has traded in a highly predictable manner within a clearly established range since March…and looks poised for another bounce!
Has the Russell 2000 Found Support?
The major market indexes have been testing price levels below critical support areas over the last two days, but some indexes are beginning to show signs of life – including the Russell 2000 Index. The $RUT has high concentrations of support confluence that could lead to a big bounce in this index. Let’s take a look!