Analysis for December 5

//Analysis for December 5

Hawk’s Scan Sentry Report December 5

Welcome to Hawk’s Scan Sentry Report. This is Sunday night with equities analysis from Jan Arps’ Scan Sentry Toolkit for the week beginning December 5.

So, how is the American stock market looking as we roll into December? Looking at a 100,000 share  chart (volume bars) of the S&P e-mini, my analysis indicates potential short term bearish movement in the price of the contract . This is identified by the three Arps Radar tools. The Radar1 Fear/Greed indicator showed weakening buying pressure as the recent highs around 1260 were made. This type of indication is what we call a ‘bearish pivot divergence’. Furthermore,  the Fear/Greed indicator shows that, currently, there is slightly more selling pressure than buying going on. The short term bearish tendency is also indicated by the Bearish pivot divergence in the  oscillator highs of the Radar2 Price Leader which is currently showing that price is ‘decellerating’ (below the 50 centerline). The Radar 3 Trend-Strength Index has also identified a recent trendiness to the downside. Which means that Monday I will have a slight bias to the downside for very short term positions.

This is not a long term analysis, simply looking ahead to the next day or two..…. As always I will be ready to follow the market up or down.

For a deeper explanation of these tools and others be sure to attend our free webinar on Wednesday morning 10:30 EST.

Below you will find some of the stocks I am looking at this week.

_____Longs_____

LZB

(This stock is clearly currently at resistance, but I like the fact that Radar1 is getting stronger instead of weaker, and that we have a Bull Flag breakout with a Pullback23 signal ).


HSTM

(I like the pullback into the short term line of the Triple Trender. This one has  potential up to it’s recent highs above $18, after that be careful).


_____Shorts_____

BSX

(The bearish engulfing bar is a pretty clear rejection of the recent pullback to the $6.00 range).


AGU

(I like the pullback into the bearish Triple Trender).


May the trend be with you,

Hawk

Jan Arps’ Traders’ Toolbox is not an investment advisory service nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. Examples presented on this site are for educational purposes only.  It should not be assumed that the methods, techniques, or indicators presented in these examples will be profitable or that they will not result in losses. There is a high degree of risk in trading.  Readers using this information are solely responsible for their actions and trade at their own risk. Readers should always check with their licensed financial advisor .

2018-01-08T08:06:04+00:00December 5th, 2011|Hawk's Picks|