LULU breaking out of long-term bullish flag pattern. Stock: Lululemon (LULU) Long or Short: Long Entry Range: $72.75-73.25 Stop-Loss: 70.60
Pre-market update (updated 8:30am eastern): Europe is trading 0.2% higher. Asian markets traded 1.3% higher. US futures are slightly higher ahead of the open. Economic reports due out (all times are eastern): MBA Purchase Applications (7am), ADP Employment Report (8:15am), Productivity and Costs (8:30am), Factory Orders (10am), ISM Non-Manufacturing Index (10am), EIA Petroleum Status Report (10:30am)
Pre-market update (updated 8:30am eastern): Europe is trading 0.4% higher. Asian markets traded in a wide range from -0.6% up to +0.2%. US futures are slightly higher ahead of the open. Economic reports due out (all times are eastern): ICSC-Goldman Store Sales (7:45am), Redbook (8:55am) Technical Outlook (SPX): Despite the historically positive gap-up on the first
Solid gap into today’s market but be careful not to chase after the setups Today’s lazy trade long and short comes as we are finally getting a solid bounce out of this market and likely to push higher throughout the week. The short setup, Lululemon (LULU) looks great, and if I didn’t think that this market
Pre-market update (updated 9:00am eastern): Europe is trading -0.6% lower.   Asian markets traded in a wide/mixed range, from -1.6% up to +1.9%. US futures are flat ahead of the bell. Economic reports due out (all times are eastern): Consumer Price Index (8:30am), Jobless Claims (8:30am), Empire State Manufacturing Survey (8:30am), Philadelphia Fed Survey (10am),
The Chart of the Day…    Quick Glance at the Market Heat Map and Industries Notables: This specific heat-map color arrangement seems to becoming far too regular on the Evening Tape. The three industries you don’t want to see lead to the downside: Financials, Materials, and Technology all led to the downside today.Â
Portfolio update on existing long and short positions I’ve been active today primarily covering a couple of my short positions. The first was in Invensense (INVN) at $10.79 for a 4.6% gain. The other one (unfortunately) was in Lululemon at $68 when I was uncomfortable with the coiling price action occurring during the President’s speech
Pre-market update (updated 8:00am eastern): Europe is trading -0.6% lower.   Asian markets traded 0.7% higher. US futures are slightly higher. Economic reports due out (all times are eastern): MBA Purchase Applications (7am), Producer Price Index (8:30am), Retail Sales (8:30am), Business Inventories (10am), FOMC Minutes (2pm) Technical Outlook (SPX): Another trading session that despite
Pre-market update (updated 8:00am eastern): Europe is trading -0.6% lower.   Asian markets traded -0.9% lower. US futures are moderately lower. Economic reports due out (all times are eastern): NFIB Small Business Optimism Index (7:30am), ICSC Goldman Store Sales (7:45am), Redbook (8:55am), Treasury Budget (2pm) Technical Outlook (SPX): Extremely light day of trading due to