The Closing Print live trading and financial blog during market hours.

BABA reports this week, on Tuesday before the open, along with AK Steel, Verizon, Lockheed Martin, to name a few. More importantly, Alcoa reports after the close. What management has to say, usually points to economic clues in the auto industry as well as consumer good, when sheet aluminum and cans are referenced. Keep focused.

BABA is building a flag above the 9ema. Earnings will be insight into AMZN earnings scheduled for Friday 2/02/17. Thats only two weeks away.


MercadoLibre (MELI) is also in this industry group. Believe it or not, MELI is ranked higher than AMZN by IBD.


AMZN has built a nice cup pattern going into earnings.


Transports have been looking very good, as potential candidates. UAL was added to the IBD50 list this week. RSI, STO and MACD all suggest higher prices are in order. An entry at 75.25 or better would be great, with a stop around or below the Friday LOD.


Transports should continue. RSI suggests continuation. Watch truckers, shippers, rails and airlines this week.


Many of the banks added to the IBD50 list look ripe for bullish continuation. BPFH and OZRK are on the watchlist. Note RSI is rising on higher volume, showing institutions are buying.


Building Construction is bullish. Watch EXP this week, if it breaks out of this pattern. Entry at 100.65 or better, with a stop under 99.90. RSI and STO suggest higher prices.


The Mortgage Finance industry group is fairing well. ESNT is in this group. Note the stock broke above this triangle pattern on Friday. Look for continuation, as bullish momentum is taking control. (MACD is turning).


Semiconductors also look good. Many of the IBD50 stocks look similar to MCHP. If these stocks move higher, we could see NVDA begin its move back to 52 week highs.


I’ll be broadcasting this morning.

Happy Monday


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