$VIX testing the 200 day MA while the S&P 500 consolidates near the top of the recent range.
$AA from the watchlist breaking out of its base structure and testing the +2x ATR level
$INFY from the watchlist with a Stage 2 continuation breakout attempt
$SLV Silver with a spring attempt at the major support level
Value versus Growth $SPYV $SPYG
Value breaking out into intraday Stage 2, whereas growth pulling back into the intraday Stage 1 range after failed breakout attempt.
Rotation
$BRK.B from the watchlist making a Stage 2 continuation breakout attempt
$CUBI from the watchlist showing some strong RS today with a Stage 2 continuation breakout
$FCX from the watchlist testing the breakout zone
The tape around half way into the trading day.
Majority of sectors positive, but Tech and Discretionary negative.
Of the indexes though only S&P 500 Value is positive, and this because the mega caps are all negative and they have big weightings in the S&P 500 and Nasdaq 100
For those with a shorter timeframe. The last two days are a good example of how you can use Stage Analysis on intraday level. Obviously the major trend always takes precedence, but it can help to get into trades with lower risk.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Interesting day in the indexes. Big down candles, but all made higher lows and remain within their base structures. So need to see if there's follow through or not, as may just be large players messing with us around options expiration tomorrow (Quad Witching).
$VIX was also interesting as it's move off of the 200 day MA was fairly muted in comparison with what what was going on in growth stocks especially. So not suggesting broad panic selling was occurring (today at least).
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
$MU from the watchlist had earnings last night and gapped up around 6% to 87 in the after hours trade. So watch for a potential Significant Bar breakout attempt if it can follow through intraday today.
$DBRG from the watchlist testing the pivot
Former leading stock $AEHR with an early Stage 2 breakout attempt from its intraday Stage 1 base. It is showing some strong relative volume but meeting some resistance so far. So maybe too early and hence an upthrust in Phase B of the base. But is moving it into focus.
But if it does breakout into Stage 2 on the intraday timeframe, then that will start to bring it back into focus on the higher daily timeframe as it approaches the +1x ATR level and 50 day MA.
I'd say this is a reasonable example of what Mark Minervini calls the "Low Cheat" pattern. Which as you can see from the intraday 2 hour chart, is just a Stage 1 base on a lower timeframe, which then can give an earlier entry point than more traditional higher pivot points.
Being an early entry point area though, it's much more failure prone, so a smaller position size is generally the tactic if it makes the intraday Stage 2A breakout, which you can then add to gradually at higher pivots as the fuller pattern develops. Which with the low cheat is often a cup with handle type of pattern.
Good follow through on yesterdays Undercut and Rally scan results with vast majority of them positive today so far. https://twitter.com/Stage_Analysis/statu...0603480072
$MU has followed through intraday with the Significant Bar (SB) breakout on 190% above average volume so far. Potentially putting it back into Stage 2. Will be watching to see how it reacts relative to todays SB in the coming days.
(2021-12-21, 11:15 AM)isatrader Wrote: $MU from the watchlist had earnings last night and gapped up around 6% to 87 in the after hours trade. So watch for a potential Significant Bar breakout attempt if it can follow through intraday today.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
