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Guy Cohen

Leading Stocks Positive But Indices Mixed

by Guy Cohen 18. July 2011 19:44

Well there are two ways we can look at the indices, yet at the same time as we get into earnings season, many leading stocks are forming very constructive patterns. 

The OVI has been stuttering on this one, but there is a cup and handle of sorts forming here.  Look for a break of the upper trendline of the handle formation and then a break past the recent highs along with the OVI turning positive.

qqq 2011.07.18.png

Similar to the QQQ with the same sentiments. 

 spy 2011.07.18.png

Same again for the Dow ... this one's OVI is often more bullish than the other two main indices. 

dia 2011.07.18.png ... 

Now for some stock highlights for PTC Members only.  Only my Private Traders Club Members will see these following charts. 

Going very nicely since the OVI turned up ... earnings on Tuesday after the close, so be careful. 

aapl 2011.07.18.png

Needs to rise towards its highs to start being interesting again.  The OVI needs to cooperate too. 

amzn 2011.07.18.png

It's a great pattern even if the OVI is a bit dead!

anf 2011.07.18.png

Wow, this has been such a dog and the OVI has been negative for so much of the run down ...

bac 2011.07.18.png

Ready to break out soon ... OVI is with the force .. .

bidu 2011.07.18.png

Decent pattern and OVI still positive

cvx 2011.07.18.png

OVI had turned positive (apart from just one day) as the flag formed pre-earnings.  We made a good call on Thursday last week with this one!

goog 2011.07.18.png

Many other stocks in the OVI Liquid Stocks charts are looking good for rises this week.  Make sure you know when the earnings dates are though.  Remember, it only takes a few minutes to go through these. 

Here's another one from a flag scan outside of that list - if you have FlagTrader it's very easy to scan for stocks forming flags (and with positive OVIs too if you like).

Great pattern and something's going on with the OVI for sure. 

 tzoo 2011.07.18.png

Earnings is now in full swing so be prudent about checking for the dates of your stock picks. 

More soon. 

All the best