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Late Night Stock Market Setups for Wednesday

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The recent IPO HLT might finally be ready to come out and play, seen one the first chart below of the daily timeframe. Watch it over $22.25.

OTIV looks like a hidden gem about to break much higher from a coiled pattern, second chart below. Watch it over $3.70.

And VNDA is a biotech to keep on watch if the sector momentum continues, basing sideways tightly in an uptrend. Watch it over $13.

Drop me your top tickers overnight.

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HLT

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OTIV

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VNDA

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Semisweet Chips Back in Action

The semiconductors have been a slippery group for a while now, with fits and starts each time it looked like they were ripe as a group to benefit from a sector rotation and lead the next leg of the bull higher.

Today, however, the action is quite impressive, with names like AMD AVGO STM SWKS TQNT, among others, strong as can be.

Looking at the daily chart for the sector ETF, you can see today’s strong price candle, trying to break higher from a recent consolidation. Follow-through, of course, is going to be key, as has been the issue for a while now with the group.

More on this after the bell on my video market recap.

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SMH

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Worth a Look to Take the Stairs Higher

FXErKGJ

FEYE NYNY STXS are three technical long ideas I am stalking this afternoon, seen on their respective daily timeframes, below.

What are you trading this afternoon?

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FEYE

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NYNY

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STXS

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Miners Get That Check-Up from the Neck Up

butterfaces_leadedit

After yesterday’s potent rally, gold miners are checking back to the primary breakout level of the inverse head and shoulders bottom dating back to early-December 2013. T

To my eye, the big test is going to be whether $22.20 now holds (the “neckline” of the pattern), in a similar vein to the way in which $19.80 held on the natural gas ETF this week. Below there, and the integrity of the setup becomes suspect.

For now, it is simply a shakeout.

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GDX

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A High Noon Sampling of Solid Stocks

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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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2014-01-14_1221

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The Jimmy V Spirit

jimmyV4

The 30-minute chart of the small cap ETF shows bulls giving another valiant effort at a V-shaped rally off yesterday’s selling. Price is pausing a bit here at resistance since the beginning of this year. It should be interesting to see if we just keep going higher, as we did in 2013 off these types of rallies, or instead this time around bears pounce on the exuberant but short-lived bounce.

I covered up the rest of my AXP short inside 12631 for a three-point win, with earnings later this week.

Back with some more ideas in a bit.

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IWM

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