Intra-day Action

Good participation yesterday on small gains

Good participation yesterday on small gains

<Here is the latest update of my ever-changing market stats spreadsheet.  Yesterday was pretty interesting.  Good participation across the board, although slightly weaker in the services sector.  Utilities technically stormed it, but this is due to heavy volume in EXC.

Most interesting for me I think is the difference between the average percentage dollar gains versus the rise in the indices.  Tuesdays Av DV% ranged between 79-96% with the main markets up between 0.90-1.38% and advance decline ratio of 1.857.

Compare this to yesterday: Av DV% range 96-161%, ratio of 3.375 with the markets all up about 0.675%.  The hardcore of financials were similar DV to Tuesday, however this was significantly down from Monday.  The difference in my opinion is probably due to the huge volume and short covering in the morning rally after the gap down.  Realistically I would associate yesterdays stats with a day of advances greater than 1% in the broad market.

Distribution, Accumulation, Consolidation?

Distribution, Accumulation, Consolidation?

Here> are the stocks from the list I’m tracking that have either had 3 days of declining or advancing dollar volume.  Checking the charts, DOW DAL DIS and BAC all look pretty interesting here.  DOW with candles off the 25EMA, DAL on small volume pullback and short term bottom at prior resistance with 50EMA support.  DIS as mentioned on Monday, and BAC potentially forming an ascending triangle.

Charts catching my eye at the moment:

Check these out

Check these out

Update 15:35BST (10:35US)

There are unreal amount of great charts on an intra-day and swing basis at the moment.  The ones I mentioned earlier are the tip of the iceberg.  WFC just popping out a descending wedge on excellent volume is one of about 50 I’ve seen today.  Basically every stock out there is tradable today, and I’m waiting for some pullbacks before getting primed.  DAL is one I’m watching at $6.80 today.  Gutted about KB too, up 6% on a stock I really should have noticed yesterday.  Easy come easy go yo’.

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