Architrader Blog Central

Pre-Market Analysis for Jan 13, 2010

ECON REPORTS:
Oil numbers due out at 10:30 am EST| Beige Book 2:00 pm EST | Treasury Budget 2:00 pm EST

MARKETS:
This morning we are set to open higher. The SPY is gapping up .32 cents to 113.98. The KEY level in the SPY is 114.00. There are a lot of intra-day resistance levels to take note of in the SPY.

Resistance levels: 114.00, 114.20, 114.30 and the Gap fill 114.75
Support Levels: 113.30

STOCKS ON MY RADAR:
ABX, JPM, HAL

ABX
KEY LEVELS: 41.00 (Res) 40.00 (Sup)
INTRA-DAY LEVELS: 40.75 (Res) 40.00 (Sup)

JPM
KEY LEVELS: 44.00 (Res) 43.00 (Sup)
INTRA-DAY LEVELS: 43.60 -43.80 (Res) 43.10 (Sup)

HAL
KEY LEVELS: 34.00 (Res) 33.00 (Sup)
INTRA-DAY LEVELS: 33.50 – 33.75 (Res) 33.00 – 33.25 (Sup)

Pre-Market Analysis for Jan 11, 2009

ECON REPORTS:
No major data to report

MARKETS:
It looks like the markets are set to open higher once again. My plan today is to wait for the market to pull into my specific zones. For the SPY, I am looking for the 114.60 and 114.30-ish level. If we get such a pullback into these zones, I will monitor the Tape action and look for a set-up on the charts.

JPM:
Is Gapping above a KEY level –45.00. JPM will be my main focus at the open, as playing 45.00 (former resistance) to become support. If we don’t hold 45.00, I will look for a possible pullback to 44.75.

Good Trading

David Guerrero

Market Analysis for Jan 04, 2010

Market Analysis for Jan 04, 2010

ECONOMIC REPORTS:
Construction Spending 10:00 am ET | ISM Mfg Index 10:00 am ET

The Q’s are gapping up in a very bullish fashion over some important KEY levels (46.00 – 46.25). Any pullbacks, which would be preferred to any of these levels, would be good areas to get long.

The OIH is gapping up 2.36 to 121.24. This ETF along with its recipients (HAL, WFT, NBR and etc) should be very playable today. The OIH has about another point of upside to 122.37, while some of the major refiners in its sector are gapping above KEY levels on the daily charts. If I see further Bullish confirmation at the open, I will look to get long HAL.

Some other key stocks I will be following are:

LVS – Quite possible a short at 15.55 and or 15.75. I would need confirmation of weakness
MS – Looking to buy a pullback as close to 30.50 as possible. Some mild resistance at 31.00

Stay tuned on Twitter for further updates

Good luck trading

David Guerrero

Market Analysis for Dec 14, 2009

ECONOMIC REPORTS:
None

IN FOCUS:
It looks like energy stocks are going to be in focus today. The news about Exxon to acquire XTO Energy is providing a nice lift to the stocks in this sector. Some of the stocks I will be watching this morning are:

XTO –
CHK – KEY Daily resistance Level 25.00
Support area(s) – 24.40
HK – KEY Daily resistance level 23.50 and 24.00
Support area(s) – 22.75

MARKETS:
Q’S – Are gapping up .32 cents to 44.45. A KEY level to watch is 44.50, as it has proven to be a strong resistance level on a closing basis.

OIH – Is gapping up 1.92 to 116.11. The Exxon news is carrying over into the refiner stocks and I will be watching HAL as well.

HAL – KEY Daily resistance level 29.00
Support area(s) – 28.20 – 28.00

Good Trading

David Guerrero

Market Analysis for Dec 10, 2009

ECONOMIC DATA:
No Reports that merit special attention

MARKETS:
Q’S – Are gapping up .23 cents to 44.30. This represents a Bullish gap, since we are gapping out of a Buy Set-up on the Daily chart and above a KEY level of 44.00. I will pay attention to the following levels in the Q’s”

DAILY: 44.50r 44.00s, 43.50s
HOURLY: 44.20r, 44.60r 43.90s, 43.60s

STOCKS:

JPM**
DAILY: 41.70r, 42.00r 41.00s
HOURLY: 41.50r, 41.75r 41.00s, 40.75

WFC**
DAILY: 26.50r 26.00s

I am going to look to play WFC if gets close to either price level. I will monitor the Tape and Charts at these levels to develop a bias and enter accordingly.

STOCKS ON MY RADAR:
I will keep the following stocks on my radar. I don’t have any clear levels yet, but I will monitor the price action and look for Bullish confirmation on the Tape and Charts.

MT
CENX
VECO

Good Trading

David Guerrero

Market Analysis for Dec 09, 2009

ECONOMIC DATA:
Wholesale trade 10:00 am ET | Oil Numbers 10:30 am ET

MARKETS:
Q’s – As of now it looks like we will have a flat open in the Q’s at 43.71. We are in a Bullish area on the Daily chart, but within a sideways range since mid last month. 43.50 is a KEY support level to hold. If the markets turns bearish intra-day and the Q’s break this level (43.50). The next downside target will be 43.00.

DAILY: 44.00r 43.50s, 43.00s
HOURLY: 43.80, 43.90r 43.50s, 43.20s

OIH – Is looking a little interesting at these levels. It has been down 6 days in a row from the 120.00 level. It’s currently gapping about .92 cents to 112.20. With OIL numbers due out today, the Refiner stocks should be on your radar. The KEY levels I am watch in the OIH are:

DAILY: 113.70r, 114.00r 112.00s, 110.00s
HOURLY: 112.00r, 112.50r 112.00s, 110.50s

STOCKS ON MY WATCH:
HAL**
DAILY: 27.00r, 28.00r 26.60s
HOURLY: 27.00r, 27.25r 26.75s

TXN**
DAILY: 26.00r, 26.50r 25.50s, 25.00s
HOURLY: 26.00r, 26.25r 25.50s, 25.25s

WFC**
I will continue to watch the 26.00 level in WFC. A lot of transactions took place at that level, so I will look to get long at / or near 26.00. However, if 26.00 breaks, I will get short below 25.95 and add if it breaks 25.90. My stop will be 26.08.

Good Trading

David Guerrero

Market Analysis for Dec 08, 2009

ECONOMIC DATA: No major to data

Markets

Q’s – Are gapping down .38 cents to 43.52. Similar to yesterdays open, we are opening right at Daily support. So, I do expect a bounce at the open. See levels below for KEY levels of Support and Resistance.

OIH –Is gapping down 1.29 to 113.06. There is no major support until 112. A lot of downside potential.

Stocks

I will be focusing most of my attention on the following stocks, but more importantly the levels listed below.

HAL ****
DAILY: 27.60r, 28.00r 27.35s, 27.00s
HOURLY: 27.75r 27.50s

WFC ****
DAILY: 27.00r 26.00s, 25.00s
HOURLY: 26.60r 26.20s

Please note: If a level does not hold in the general area of the price mentioned. A shift in momentum between Supply and Demand has occurred. For example, if a Daily support level is broken, I will look to fade the next counter-rally back to that level on any weakness. It’s the simple concept of “What was Support” is now “Resistance”.

Good Trading

David Guerrero

Pre-Market analysis for Dec 7, 2009

ECONOMIC REPORTS:
Ben Bernanke speaks at 12:00 pm EST

Q’s –As of now it looks like we are going to have a flat open with the Q’s opening at 44.09. We are opening at a KEY support level, which falls right around the whole number of 44.00. I will watch this level closely to see who will win the battle between the Buyers or the Sellers.
KEY LEVELS
DAILY: 44.00s 44.50r
HOURLY: 43.90s -43.80s 44.55r 44.65r

FAZ –Is gapping up .19 cents to 19.68. I will look for selling pressure at the 20.00 level, but I will watch the level closely. If we breakout above 20.00 I will monitor the Tape on the pullback. If this level holds in a bullish fashion, I will either get long with a stop slightly below 20.00 or look to short financials.
KEY LEVELS

DAILY: 18.60S 20.00r
HOURLY: 19.50s -19.25 20.00r -20.25r

The stocks I will be focusing at the open are:

BBY: I will watch the 44.00 level. If we break above and hold, I will monitor the Tape on a pullback. If I see substantial buying on the BID and price holds, I will get long with a target of 44.25 – 44.50.

JPM: I will watch the 42.00 level as a resistance area. I will look to short in front of this level on a weak Tape.

MS: I will be watching the 31.00 level as a resistance area. I will look to establish a short position in front of this level if we get there.

Please note: I will reverse my idea on these plays, but only if the Tape confirms strength or weakness at / or near the KEY levels mentioned.

Good luck Trading

Stay tuned for my Trading journal later this afternoon!