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Friday, May 6, 2011

Stock Market Overview for 5/5/11

During regular trading hours, there were many stocks that continued to break up to the upside. These stocks are usually going up  with news.If you are looking to day trade today, you might want to check out the following stocks. I usually throw these on my watch list and monitor with resistance & support levels. Below are a list of stocks that I am watching for May 06, 2011.Also check out my Top 2011 Stock GainersStocks to Buy 2011.You can also check previous stocks to buy reports- Right Here

Top Stocks Performance of the day:These are  stocks that continued to break up to the upside or down side. These stocks are usually going up or down with news or technical.If you are looking to day trade, you might want to check out the following stocks.

New High:   MW, DPZ, CMT, MNTG  
Overbought:  GTXI, VLCM  
Unusual Volume:USB  EONC  WSR  KNDL
Upgrade: WTS
Earnings Before: ABVT 
Insider Buying: BFS

For Market TA analysis
Stock Market  Closing Price 5/5/11

$INDU Dow Industrial Close -
   12584.17 Down 139.41
$COMPQ Nasdaq Composite Close  
2814.72 Down 13.01
$SPX S&P 500 Close 1335.10 Down 12.22

Commodities Closing Price 

Gold Close -  1472

Oil Close - 99.05

Natural Gas Close -4.25
SP 500
Long term signals : Bullish
Short term signals : Neutral

Stop  @ 1250
QQQQ (Nasdaq 100) : Bullish, stop @ 55
INDU: Bullish, stop @11000
COMPQ:Bullish, stop @ 2600
Top trend : Techs  
Value : Financial

Euro Dollar : Bullish
US Dollar index : Bearish  
Gold : Bearish, stop @ 1330
10 Y US Yield : Bullish, above 2.8 stop
30 Y US Bond : Short, stop @ 132

World Market
UK's FTSE:  Bullish, stop @ 5700
Germany's DAX: Bullish, stop @ 6340
France's CAC: Bullish, stop @ 3800
Shanghai : Bullish
Japan Nikkei : Bullish

It was a broad based sell off in commodities today as the dollar surged on the back of commentary from ECB head Jean Claude Trichet as well as short covering from its recent sell off.  Support for the SPX remains at 1320 and then 1310, with resistance at 1342 and then 1350.So we should trade small lot.Take a look all 1/5/15/60m chart if we want to trade this market.

I also have  technical analysis different stocks-Right Here. 
Take a look some market indicator charts- Click all charts
$SPX - 60 min
$CPC daily
INDEX Bullish percent index (EOD)
Simple Trading System  
QQQQ Daily 

FOR 05/06 SPX resistance, pivot & support
Resistance R3 1366.83, R2 1356.33, R1 1345.83
Pivot Point 1337.50
Support  S1 1327.00, S2 1318.67, S3 1308.17

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