Hey /r/stockmarket, a few guys suggested I post our morning and EOD briefings on here as to update all of you on what surge traders are currently thinking of the market sentiment. I can post these before and after market opens and closes if you guys would like! No links to our trading group/website, just the full messages. Enjoy!
Surge Morning Briefing 2/22/16:
Good morning fellow Surge Traders! For the S&P we are going to be testing very critical levels. The TA is 50/50 right now. All year the data has looked bearish but despite the rally nearly all of last week the S&P is actually still geared for some bullish action. The 1934 pivot is going to be very critical for the S&P to break. If it does it should make its way to to the 1951 pivot quite effortlessly. While we feel the break of 1951 is unlikely. There is actually still room for it to run to the past 1971 pivot to the 1990 pivot. While the odds are not in the favor of S&P running that high the technical analysis is there. The 1869.5 pivot is going to be critical for the rally to sustain. It is very important to note that this is not a reversal. Oil is still in big trouble until actual cuts are made not just rumors, high yield is terrible, global markets aren't getting better. So this rally will only be a temporary one. Once it is over expect new lows. The technical analysis on a monthly scale looks awful. A break of 1800 is coming very soon until the data changes.
We want to remind all of you who trade leveraged ETFs to be careful as it is possible we see some of them selling off in these volatile markets. Also, the announced news by Direxion that some of their ETFs will have a reverse split shows us just how volatile these trading vessels can be. So trade smart, keep those stops tight, and good luck with your trades today.
02/22/2016 Notable Earnings:
Allergan ($AGN): Current Price: $280.10 IV Rank: 59 EPS Forecast: $3.37 EPS Actual: $3.41 Conference Call: 8:30 AM EST What to Expect: http://ift.tt/1UihoN5
Fit Bit ($FIT): Current Price: $16.00 IV Rank: 63 EPS Forecast: $.20 What to Expect: http://ift.tt/1VyIONa
Valeant Pharmaceuticals ($VRX): Current Price: $87.05 IV Rank: 94 EPS Forecast: $2.59 EPS 1Q2015: $2.59 What to Expect: http://ift.tt/1QtLnvM
Submitted February 22, 2016 at 11:49AM by FirstAlways http://ift.tt/1QtLlUv
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