Daily Stock and Option Trading

DE - Daily Chart - Logarithmic Scale DE break the upper green uptrend line. I expect a retracement to the resistance level either at 89.3 or 90.5.

DJIA - Daily Chart - Normal Scale DJIA make a new high but we find divergence on MACD and RSI. This one is the leader of this bullish move. It's often happen in the past, most trader see DJIA as a benchmark about how US Market perform. While they don't see the majority of stock heading. When DJIA break the trend line, I expect a bearish move in stock market. SPX - Daily Chart - Normal Scale SPX might forming first ABC pattern in a possible topping formation. I expect SPX to trading range between 1470 -1530 within 2-3 weeks. A break to either side might initiate a bigger move. Personally I expect a break to the support. Please check 4 hour chart on SP500 Future too,there is a down trend line still attached to the tops. NASDAQ - Daily Chart - Normal Scale Similar to SPX, NASDAQ might move in trading range within 2-3 weeks. But NASDAQ sit at the trend line. Russel 2000 - Daily Chart - Normal Scale Russel 2000 already break the trend line. There is a

FB - Daily Chart - Logarithmic Scale FB sit very tight at his support level at 26.8. I expect 2 scenario. FB might move in trading range between 26.8 - 32. FB form an ABC correction and stop at next support at 25 or 23.3. I want to see how price move from today. If price can break green down trend line, then I might enter a bullish position after a retracement. Resistance at 29 and 32. I prefer to enter a bullish trade after I see a possible full retracement on FB. I think it might settle at 25 support level.

SP500 Future - Hourly Chart - Normal Scale SP500 Future stop at important level. There is a down trend line from the top and the lower top. IF price decide to break the down trend line , I will hedge all my bearish trade. But if the trend line hold as a resistance, then I will keep my eye on what price doing next. Both Slow Stochastic and RSI at over bought, but still over bought doesn't mean over. Price still can move higher.

RAI - Daily Chart - Normal Scale Since Mid November 2012 till today, RAI seem to form an ABC correction. Today price action might be a wave C break down. I will manage my risk to enter a bearish trade. I put my stop loss at 45.5 level.

MKC - Daily Chart - Logarithmic Scale MKC have a bullish trend, but early this year they have break the trend line. The price action want to retest the resistance. My trade plan is I want to see if the price action can break the resistance. If price can significantly break the resistance, then I will wait for a pullback. If price can't break the resistance level then I will wait for a bearish fractal to enter my trade. Personally I prefer the second scenario happen, because it will give us a high expectancy trade plan with a good risk reward ratio.  But price can be irrational, OVER BOUGHT DOESN'T MEAN OVER, so rather than trade what we expect, It's better to trade what we see and manage the risk wisely. If scenario 2 happen, the stop loss would be slight above the resistance line.

ECL - Daily Chart - Logarithmic Scale ECL have a divergence in RSI and MACD. This one is a strong bullish stock for about 1.5 years. First, I expect price to break green up trend line. Then I wait for the retracement to enter next leg of pullback.