Tuesday, March 12, 2013

Here is the watch list for this week from Toni Hansen's Swing Trading Group with a brief explanation of the set ups, sign up for Toni's Sunday meetings, which will switch to Fridays in April, at:
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Main Watch List for Buy Strategies for the week of March 10th
APA
KWK
DO
MAKO
GORO
UNFI
DWRE
BVSN
GWRE
MDRX
JWN

Shorts from our session:
MS
GS
JPM
BIIB
MWE
JNJ
THD
MMM
BLK
SHPG
TAL
FL
AI
UNH
EXPD
MHP
STX
XOM
RIG

The Details:
APA has formed a Momentum Reversal on the 60 minute time frame and is currently poised to develop a Phoenix on that time frame as well to continue the daily bounce off the $72 support zone. This strategy would be a 1-2 day hold into the $78-$79 zone, but a strong move would allow for further upside as a longer hold into $80.

KWK has an equal move on the daily and weekly time frames after pulling back off October highs. The momentum has shifted in the second wave lower on the weekly chart that began this year and consisted of two smaller equal wave moves lower into the end of last month. A double bottom on the 60-minute has triggered an initial reversal this past week, but further upside 
potential exists into $3. Waiting for a 60-minute continuation strategy to develop.

DO has a momentum shift in the selloff into the congestion of the past quarter. Watching for 60-minute reversal patterns to take advantage of exhaustion into this support. Weekly downside momentum will limit upside returns by slowing the overall bounce, but it will likely be punctuated by stronger moves lasting several days at a time.

MAKO triggered a Phoenix on the 60-minute chart into the weekend, but the weekly chart has a 2B formation with a slower move into the second low suggesting a larger upswing is beginning to develop. Watching for continuation patterns with weekly resistance levels at $15 and $18.
GORO is similar to MAKO.

DWRE has an equal move drop on the monthly time frame since October highs and is at the lower end of a weekly trading range with momentum shifting and a slowdown into support. Watching for reversal patterns on the 60-minute charts.

GWRE, MDRX, and JWN are all two-wave corrections on a 60-minute time frame with setups ideal for 1-2 day continuations on the upside. Initial resistance will be a breakout whose move is equal to the move into the last 60-minute congestion.

MS, GS, and JPM are all showing extreme exhaustion on the weekly time frame. Monitoring these financials for corrective moves. Expecting wider swings on the daily charts to become the norm over the next several weeks.

FAS, BIIB, MWE, and JNJ all have daily charts with a higher high that has followed a slowing trend thanks to a longer corrective phase into this month. All have exhausted weekly charts and are strong candidates for rapid corrections off highs.

THD, MMM, and BLK also have weekly trend exhaustion, but have already shown greater momentum shifts on the daily time frame. Monitoring for 60-minute short strategies to enter a larger weekly corrective phase.

SHPG and TAL are daily Avalanche strategies with potential for equal move drops compared to the descents late last month.

FL and AI have strong daily gaps with strong weekly resistance. Monitoring for 60-minute continuation patterns on the downside.

UNH, EXPD, MHP, and STX have already began to correct on the weekly charts, but are forming bear flag continuations on the daily time frame for multi-day continuation moves.

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