STTG Market Recap January 7, 2014

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Yesterday we noted that while there were a decent amount of three day selloffs in 2013, the four day selloff was rare indeed, so it would be interesting to see if the bulls showed up today. Indeed they did, with futures up sharply and the market never looking back after gapping up at the open. The S&P 500 gained 0.61% while tech stocks led the NASDAQ higher, to a gain of 0.96%. Keep in mind tomorrow afternoon we get the release of the Fed minutes from the meeting where they cut quantitative easing. The key economic report of the day was the trade deficit which fell to the smallest level in 4 years as energy exports have created a mini boom in the U.S.

Stocks on the Move - CSIQ, AOL, JOEZ, GS, CREE, CAKE

AOL 040710

The highlight tonight is AOL which has made a fresh high on huge volume. Also, CSIQ had a 6%+ day even though the market was shaky.

Stock Picks and Setups - JOEZ, GMO, FFIV, PCX, LULU, SWC, RVBD, MELI, CSIQ

CSIQ 040610

JOEZ has proven to be a big winner the last two days. Several new chart setups tonight as well and more stock picks you should have on your close radar.

Crude Rally Opens Door For Oil Stocks Upside

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OPEC and the market have a lot to do with the current consolidation breakout for Oil. On pace for a second key accumulation day close this is a short term buying opportunity for oil related stocks (drillers, explorations, etc.).

Support and Resistance Example, Canadian Solar (CSIQ)

Canadian Solar CSIQ

The following stock chart of Canadian Solar (CSIQ) offers a great example of simple support and resistance. Support and Resistance is a basic form of technical analysis used commonly every day to mark potential buy and sell points on a stock chart.