Stocks to Watch and Market Comments Submitted by Nick at Ambitions as a Stock Trader
Submitted by My Ambitions as a Trader and Investor
Several Things….
This week is a bit busy for me so do not be surprised if my posting is not as frequent as other weeks. There are several things to keep an eye on. If we close at the HOD today, the DJIA will be in good shape to head higher as we have faced some resistance at the 13,200 level. If it can’t close above this level, we may head down a bit to retest the area between 12,800-13,000. The NADSAQ needs to close above 2,550 in order to continue its short-term uptrend. If it faces resistance at that level, it may retest the 2,500 level. Likewise, the S&P also needs to close at levels near the HOD (which is slightly above its 200 day MA). Otherwise, it may run into some trouble and take another nasty dip. The Russell 2000 Index needs some more work in order to reclaim its 200 day MA. If it faces resistance and can’t climb above the 200 day MA, it may be a good idea to initiate a short-term short position 
in it.
