Bonds are moving higher, catching a bid lately as the equities markets notch ever higher levels. At some point, we will see advancing stocks take a breather. Until then we will stick with our partial position in bonds and monitor our winning stock picks and IBD50 equity positions accordingly.
Futures are pointing to a bullish open.
GOVT has turned bullish, with the cycle up starting a week earlier. If you are trading AGG, TLT or UST keep moving your stops higher. A move above the 50ma is anticipated.
FInancials are in a down cycle. As a result, we are steering clear of banks for the time being.
Watchlist – Semiconductors Technology and IBD50
The watch list is peppered with IBD50 stocks showing imminent breakout potential or follow through to start the week. Technology and semiconductor stocks are warming up pre-market, with AMAT, FB, NVDA and YY favorites for day trades and continuation swings.
Facebook appears ready to test the previous all-time highs today. The stock is at its buy point in pre-market trading, trading at 174.20. MACD is above its signal line, with STO and RSI suggesting a breakout is imminent. Use your “Trade of the Day” setup (ToD) once we see a flag first thing this morning.
Most of the stocks on the watch list are trading higher. There is no need to chase. Just wait for the Opening Range and keep an eye on Block Trade Alerts that will likely come our way early this morning.
Have a great day,
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