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Stock Market Daily Recap Dec 10, 2012

December 10th, 2012

Indicies and ETF's

Many indexes and ETF's are pushing towards the upside. They still have not cleared their resistance points, but they appear to have a strong push in the positive direction at least for the short term.

The Dow Jones (DJIA) - is one of the few that broke its critical resistance area at 13,050 mark and continues to move forward.

The SP-500 (SPX) - is pushing towards the upside. It needs some momentum to get this one through, but I think it can do it.

The Nasdaq Composite (COMPQX) - is fidgiting at the 3000 level mark., very close trading ranging and I'm looking for a pop sometime soon.

The Russell 2000 (IWM) - Could be lagging the dow slightly and pushing towards the up side at 82.85 could be a buy point once it clears it on good volume.

Stocks That Caught My Eye

CF Industries (CF) - Im watching this resistance level at 215 and waiting for it to break. If it does it on heavy volume, it will be time to step in. (CRM) - also has some room to move to the upside. The price level to watch here is the 160 area.

Facebook (FB) - is finally starting to catch my eye. The stock is building a chart pattern to some degree and passing a few resistance spots in the intraday chart and daily chart. Check them out.

Bank of America (BAC) - is holding up very well after breaking out 4 days ago. This stock looks healthy. I would love for it to test the $10 support, and bounce from there to ensure it is a healthy range, but time will tell.

JPMorgan Chase (JPM) - is on my watch list to pop. If Bank of America poped last week, another financial can do it. Its pushing up on this descending trend line. We will see if it can break it.

Celgene Corp (CELG) - Is hovering at this resistance level. It is setting up for new highs. Keep it on the watch list.

Apple (AAPL) - is still volatile and holding in this trading range above the 525. Can it hold? No one knows, but I think this has more room to the down side.

Priceline (PCLN) - tumbled nearly $33! This stock took a beating on nearly twice the daily volume.

Author: Sasha Evdakov

Sasha is the creator of the Tradersfly and Rise2Learn. He focuses on high-level education speaking at events, writing books, and publishing video courses on business development, internet marketing, finance, and personal growth.

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