Oct. 29 Market Recap and ER review

SPY: Uptrend continues. SPY closed up .58% on .73x volume at 177.26. It gapped up at open and then short green bar. Huge green bar on the last 5 minutes. I’m thinking another uptrend is about to begin. Its time to buy. The Bollinger bands show we got room to run. Watch for close below yesterday’s low or a move on the VIX below 12.93 to sell.

QQQ: QQQ ended at 83.16. Up .24% on average volume. It gapped slightly up then was another doji. Don’t see anything worrisome. Still a stock pickers index in this one.

Consumer staples, healthcare, and services led all sectors today. All were up.

10 Stocks to Watch

1.       DDD. Reported in-line earnings. Slightly lowered for year EPS guidance, but upped FY revs guidance. Shakeout at the open then big hammer bottom. Huge hanging man candle on 2.1x daily volume.

2.       CVLT. Beat on both. Agrees with prior Wall Street guidance. Downtrend into earnings. Huge hammer today on 5.6x daily volume. Today was the definition of a shakeout. Traders tanked this stock below the 200 MA. This is why you don’t panic sell.

3.       AGN. Slightly lowered next quarter’s guidance. Opened above recent resistance; then fell below buy point on 1.5x average volume. This looks like an ascending triangle on the weeklys. The pivot is $95

4.       KORS. Gapped up big on volume despite being in downtrend the last 4 days. Couldn’t get to 79. Pretty big open maribuza with long lower tail on 4.6x daily volume. Watch for any close above $79 to buy.

5.       IACI. Huge beat on EPS, but huge miss on revs. Tanking after hours (down 12%). 49 is the support. Buy if it hits.

6.       CBI. Slight miss on EPS. If they try tanking this, look to pick up at 71.5 with a stop at 69

7.       ULTI. Beats on EPS and upside guidance. I like this at tomorrow look to pick up at 148.5 or 150.75. If they try the shakeout, look to buy at 141.

8.       PRXL. Huge beat on revs. Ups revs guidance for year. Down 7% after hours. Watch 55 for support.

9.       LNKD. Beats but lowers guidance. Trading 1.64% lower AH. Support at 229 & 233.


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