Bryan Leighton's Blog – January 2012 Archive (75)

Intra Day Support And Resistance Levels On The QQQ

The PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) made a new 52 week high by $0.06 today. This minor high is also known as a classic double top. The technology index fell sharply off that level and is now trading near the lows of the day. The chart below shows the key support and resistance levels on an intra day basis. In addition, the chart shows the 20, 50 and 200 moving averages on a 10 minute time frame. Amazon.com, Inc. (NASDAQ:AMZN) reports earnings today after the market closes.…

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Added by Bryan Leighton on January 31, 2012 at 12:29pm — No Comments

Multi-Year Market Trend Line And Hype Is Key To Top

After an impressive recovery yesterday, the markets opened nicely higher today. These light volume floats in the market are normal in 2012 and have helped keep stocks near their 52 week highs. However, major technical issues are showing themselves and downside looks unavoidable.



After the markets opened higher, a reversal took place. The selling has continued into the lunch hour which is a change in character. The key to the top on this market was a hit of the $133.30 level on the…

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Added by Bryan Leighton on January 31, 2012 at 12:03pm — No Comments

Mirror Opposites

The chart below basically says it all. The green and red bars represent the U.S. Dollar Index futures (DX H2), the black and white bars represent the S&P 500 Index e-mini futures (ES H2). Traders can easily see the inverse relationship between these two leading indexes. We can all forget the news and simply follow this chart. This critically important chart tells us the direction of the stock market. At this time, the stock market cannot trade higher with a stronger U.S. Dollar…

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Added by Bryan Leighton on January 31, 2012 at 10:58am — No Comments

Can The Markets Defy Gravity Again?

Nearly every trading day the major stock indexes will decline before the noon hour. This decline in the major stock market indexes usually leads to a light volume rally that lasts into the close. For example, yesterday the major stock indexes dropped sharply lower at the open only to find a low after the first hour and trade basically unchanged by the closing bell. This type of activity occurs nearly every trading day since December 19, 2011 when the Dow Jones Industrial Average (DJIA)…

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Added by Bryan Leighton on January 31, 2012 at 10:38am — No Comments

Light Volume And The Falling U.S. Dollar Keep Markets Buoyant

Nearly every trading session over the past month the major stock indexes rally after an initial morning decline. Some investors may view this action in the market as a sign of strength, however, the trading volume remains extremely light. Light volume will usually indicate a lack of institutional participation, or conviction by the big boys. This stock market looks to be moving higher by a handful of big firms that have the means to buy every market dip. Some traders and investors…

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Added by Bryan Leighton on January 30, 2012 at 3:58pm — No Comments

Light Volume Stock Market Float

Light volume is saving the day once more. After an ugly gap lower, the markets are floating back towards the flat line. This is classic behavior for a market without volume. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $131.10, -0.63 (-0.48%).



Earnings continue this week with Amazon.com, Inc. (NASDAQ:AMZN) reporting Tuesday after the market close. This is highly anticipated after Apple Inc. (NASDAQ:AAPL) reported blockbuster results.  In addition, Friday, Wall Street gets…

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Added by Bryan Leighton on January 30, 2012 at 2:02pm — No Comments

Proprietary Stock Market Levels Bring Profits

Stocks opened sharply lower to start the week. The drop was driven by issues bubbling up out of Europe once again. While these European issues came up early Monday morning, a master target had been achieved late last week in the markets. This level was $133.30 on the SPDR S&P 500 ETF (NYSEARCA:SPY) and had been given to members weeks in advance. As the proprietary analysis proved again, knowing these levels can make you millions. Members shorted the market last Thursday when the SPY hit…

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Added by Bryan Leighton on January 30, 2012 at 12:13pm — No Comments

Retail Under Early Pressure

Most of the leading retail stocks are coming under early selling pressure. The Market Vectors Retail ETF (NYSEARCA:RTH) is trading lower by $1.31 to $116.25 a share. This tells us that the majority of leading retail stocks are declining at the start of the day. Traders can watch for intra-day support around the $115.50, and $114.25 levels.



Some leading retail stocks that are actually trading positive this morning include Nike Inc (NYSE:NKE), Target Corp…

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Added by Bryan Leighton on January 30, 2012 at 11:10am — No Comments

Commercial Real Estate, Here Is The Trade

The commercial real estate sector has been on fire since October 4, 2011. At that time, the iShares Dow Jones Real Estate ETF (NYSE:IYT) traded as low as $46.70 a share. Last week, the important IYR closed at $60.78 which is a new six month high. This rally has been nothing short of sensational for the entire sector. The IYR is now overbought and extended in the short term on the daily chart. Traders must begin to look for a pullback or at least some consolidation in the near term. The…

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Added by Bryan Leighton on January 30, 2012 at 9:52am — No Comments

Next Week: Stocks Set To Sell

The markets put in a key pivot top this week. The master $133.30 on the SPDR S&P 500 ETF (NYSEARCA:SPY) was hit. This was the target for the end of the January move, prior to a pull back. Sure enough, the markets have started pulled back. Today, the S&P 500 is floating flat to slightly lower. Flat is normal on a Friday when volume dies out by 11AM ET.



Next week more downside should be seen. The key is to recognize the plethora of amazing news this week and the lack of upside…

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Added by Bryan Leighton on January 27, 2012 at 11:51am — No Comments

Oil Services Stocks Fuel Higher

This morning, the Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading higher by $2.17 to $126.16 a share. It seems that there was favorable court ruling for Transocean Ltd (NYSE:RIG) regarding the Deepwater Horizon oil spill. RIG stock is trading higher by $1.53 to $48.76 a share. Leading oil services stocks such as Halliburton Co (NYSE:HAL), Baker Hughes Inc (NYSE:BHI), and Sclumberger Ltd (NYSE:SLB) are all trading higher this morning. It is important to note that all of these…

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Added by Bryan Leighton on January 27, 2012 at 10:57am — No Comments

It's A Dollar Story

For over ten years now the major stock indexes have traded inverse to the U.S. Dollar Index. That inverse relationship is back in full force today. Anyone can easily see how the S&P 500 Index e-mini futures (ES H2) jumped off the morning lows as soon as the U.S. Dollar Index tumbled lower. All traders and investors should have a chart of the U.S. Dollar Index futures (DX H2) up at all times. If traders do not have the U.S. Dollar Index chart available the PowerShares DB US Dollar…

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Added by Bryan Leighton on January 27, 2012 at 10:14am — No Comments

Markets Hit Master Level, Correction Coming

The markets pushed into the master $133.30 level on the SPDR S&P 500 ETF (NYSEARCA:SPY). This level was given to members weeks ago as the probable short term top on the market. Sure enough, this level was hit early in the trading day and the markets reversed immediately. Obviously, shorts were taken and are in the money already. A negative close today would solidify a short term market top.



The crescendo of jubilation in the media and the public coincided perfectly with this…

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Added by Bryan Leighton on January 26, 2012 at 12:24pm — No Comments

Don't Believe The Hype

Nearly everyday since December the media reports how good things are getting in the economy. This report was better than expected, that report is better than expected and everyone is working again. While the economy might be healing in some way investors must ask themselves why the Federal Reserve is continuing to promote low rates until late 2014. The central bank is clearly dangling the carrot in front of the institutions to buy equities and inflate this market higher. Gold is the…

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Added by Bryan Leighton on January 26, 2012 at 10:51am — No Comments

Falling U.S. Dollar Inflates Markets

This afternoon, the Federal Reserve Bank announced that they will keep the fed funds rate at zero to a quarter percent until the end of 2014. This statement by the central bank has caused the U.S. Dollar Index to plummet intra-day. As we all know by now, when the dollar dips the markets flip. Everything in the market has rallied higher. Gold, silver, copper, oil, and just about every other commodity has soared since the announcement. The SPDR Gold Shares (NYSE:GLD) have jumped higher…

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Added by Bryan Leighton on January 25, 2012 at 4:00pm — No Comments

Weakness After AAPL Signals Coming Sell Off

You could hear the cheer from CNBC commentators as Apple Inc. (NASDAQ:AAPL) reported monster earnings. This truly was a great earnings report. The jubilation started in the media and spread to the little investor. Proclamations of 1380 on the S&P 500 were constant along with "tomorrow" will be a monster up day in the markets.



However, here the S&P 500 sits on the negative side. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $131.28, -0.18 (-0.14%). The NASDAQ is only…

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Added by Bryan Leighton on January 25, 2012 at 12:25pm — No Comments

Integrated Energy Out Of Fuel This Morning

The leading integrated energy stocks are all coming under some early selling pressure this morning. Exxon Mobil Corp (NYSE:XOM) is now the second largest company by market capitalization behind Apple Inc (NASDAQ:AAPL). This leading energy stock is trading lower by $1.00 to $86.17 a share. Exxon Mobil stock has been very strong as of late on the daily chart and today's pullback is rather healthy for the energy heavyweight. This giant energy company will have intra-day support around the…

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Added by Bryan Leighton on January 25, 2012 at 11:18am — No Comments

Financial Stocks Are Dipping Early

This morning, the leading financial stocks are coming under some early selling pressure. Since December 19, 2011 nearly every morning decline in the financial stocks has been bought in the latter part of the trading day. Last night, President Obama said that the banks would not be bailed out again and they would not be allowed to gamble the way they have in the past. This statement by President Obama could be having a negative effect on the financial stocks today.…



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Added by Bryan Leighton on January 25, 2012 at 10:19am — No Comments

Steel Stocks Refuse To Bend

This afternoon, all of the leading steel stocks are holding up very well. The strength in the steel sector is partly coming from a weaker U.S. Dollar Index. All traders should remember that anything that contains a metal will benefit from a weak dollar. Leading steel stocks such as U.S. Steel Corp (NYSE:X), Nucor Corp (NYSE:NUE), AK Steel Holdings Corp (NYSE:AKS), and Steel Dynamics Inc (NASDAQ:STLD) remain strong on the daily charts. These stocks look as if they could have a little…

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Added by Bryan Leighton on January 24, 2012 at 3:35pm — No Comments

Alert: Sympathy Play To SBSA Is ROIAK

Spanish Broadcasting System Inc (NASDAQ:SBSA) is up another 20% today. The stock has soared over 100% in the last four trading days after reporting better than expected earnings. This run is a combination of solid earnings and an epic short squeeze. While this stock is too extended to play, Radio One, Inc. (NASDAQ:ROIAK) is the obvious sympathy play. The chart is hovering near the 52 week lows and is in the same sector as SBSA. This makes sense on many levels but lacks the volume to get…

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Added by Bryan Leighton on January 24, 2012 at 1:29pm — No Comments

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