And Another ...

Dow Chemicals - acting as strong as the Index, with what looks like a test in a rising market, although the programme is calling it no supply.  Either signal is a sign of strength.

Another one

Another stock acting stronger than the Index, and with a test in a rising market - ideal place to go long.

Stocks

In my last post I said I would be taking a look at stocks, and indeed I have been doing some study, trawling through all the stocks in the US market, and picking out those stocks that are acting as strong or stronger than the Index.  I saw an opportunity in Citigroup (C), and, as you will see in the chart below, it has responded to the strength in the background and is indeed going up.  I'm kicking myself for not going long back when I saw the opportunity, and am now looking for a test in a rising market to enter a trade.  My guess (and it's a guess because you never know what the market will do because a contradictory sign could come in any moment) is that it will continue up to that top trendline.  It has been in an upward trend for some time, zigzagging through the trend channel.  I also have a long list of stocks in my watchlist that are acting as strong/stronger than the Index, and am waiting a VSA principle to get in, namely a test in a rising market.

20 Points Profit

There are two charts below - a 15 minute and a 20 minute.  The market rose from the open and stalled somewhat at the 14980 level.  At point A (in the 15 minute chart) we see an upthrust, and to confirm this, in the 20 minute chart, at Point A we see no demand.  The market fell steadily on this lack of demand and I took my 20 points profit.

I may not be trading for a little while due to the market being closed for a couple of days, and some work commitments before I go away on 15th July, but will keep looking when I can.

Also I am starting to look at Stocks to trade on a daily basis.  My first analysis was correct - Citigroup.  I didn't trade it though as I'm experimenting at the moment. See chart below.  Citigroup appears to be looking as strong as the Index, and at Point A we see a test, immediately after a sign of weakness.  I would have put my stop below the last reaction low and my limit at 100 points.  You will notice that after the test we have what looks like a shakeout, which is a bullish sign in itself.  I will continue to watch this to see how it unfolds.