Trade Ideas: PLT, TWB, PPL. SSD, CVD, PEC, UTI

It was a disappointing day for the markets. The semiconductors had promised much after last weeks push above 510, but the last 2 days of selling have more-or-less confirmed the bull trap with pressure now on double bottom support (with the 50-day MA not far below).



The Nasdaq is back at its 50-day MA in what has been a scrappy last couple of months. With new selling pressure on the semiconductors there is a good chance of a break (although some short term strength may appear at this important support level):



The Dow has a sizable inverse-doji right above the 50-day MA which should help bulls. Buyers have been jumping in to buy dips - but will this one be one-to-many for them given the proximity of the last two dip buying sessions?:



The loss of the 50-day MA for the S&P is another concern:



I am not sure if there was a problem with the Trade Ideas scan as the last 2 hours saw very little of anything whereas before there was some buying. Based on the earlier data an 8 pick list would have covered 16 minutes, with the entire day needed to get seven stocks for the "20-appearance" list:



If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.


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