Major US markets in a decline

Both major indexes, the Nasdaq and S&P500 are in a decline. As I mentioned in my bi-weekly newsletter, Nasdaq is a leader in a decline and pushes also S&P500 index below the 50-day moving average. I expect that the Nasdaq will reach its 200-day moving average located near at 3900 soon.

20140412_SP500_chart_analysis_from_simple-stock-trading-com

 

 

20140412_Nasdaq_chart_analysis_from_simple-stock-trading-com

I do not want to buy Nasdaq based (technology) stocks these days.  They are good option for short sell strategies.

 

Nasdaq in a decline, S&P to follow

Nasdaq leads on the way down and this index will reach its major 200-day moving average in the coming days. The S&P 500 cannot withstand selling pressure and will decline below the 50-day moving average soon. I am now bearish on technology shares and neutral on other sectors.

 

20140405_Nasdaq_chart_analysis_from_simple-stock-trading-com 20140405_SP500_chart_analysis_from_simple-stock-trading-com

 

Strongest and weakest ETFs – 02.04.2014

Here is a list of strongest and weakest ETFs today. I personally like IDU and IYE. Their pullback could be good buying opportunity.

20140402_weakest_us_sector_etfs_list__from_simple-stock-trading-com 20140402_strongest_us_sector_etfs_list__from_simple-stock-trading-com

Red: weak, Green: strong

I am not very active these days as market does not provide clear signal. It is not clear if it is bullish or bearish.

Many regional banks’ stocks look bullish

Sector of regional banks looks bullish and shows relative strength in the current market pullback. Many stocks in this sector have nice bullish charts and could offer trading opportunities soon.

TCBI, FNB, BXS, BBT, ZION, UMPQ, PACW, MTB, KEY, FITB, ASBC, UCBI

Here is an example chart (ASBC)

20140312_ASBC_swing_stock_trade_setup

 

S&P500 continues to move up

Major US index, S&P500 continues to move up without any regular pullback.  Last week was accompanied also by a one-day shakeout based on geopolitical issues in Ukraine. It is not easy to find new low risk entries for possible stock and etf trades so I continue to be less active in the markets.

20140308_SP500_chart_analysis_from_simple-stock-trading-com

 

I recommend to look for bullish stock and sector ETF trades only these days as underlying mode is very bullish.

 

Bullish setups

I am not able to find good bullish trade setups with good risk reward these days. As in stock as in ETFs. So I wait for a correction or small pullback to see what will be the best trading opportunity.