Market Preparation for SP-500 Dec. 3, 2009:

NOTE TO SELF: If a Stock Breaks Out and Closes below Previous Resistance this is not nearly as strong as if it closes ABOVE Previous Resistance. (See NSU Today Perfect Example)

Possible Scenario: Decending Channel expect flat or gap down to stay in the channel a gap up would lead to new highs. Mostly confusing read the tape.

Updates will be based upon weekly predictions with this week scoring a 2.5 out of 5 as flat hugged the channel I would have expected it to drop (tomorrow?).

My expectations for the SP-500 are based upon the current down movement inside the channel.




Setting up new scan parameters as the last set of scans were not following through and I am really just interested in finding quality plays.

Breakouts: NBIX, CAR, PIR, NXTM, LIWA, KERX, NG, AXU, AAU, NAK, (Set Order just above High resistance)
Previous Potential Breakouts (Looking back 5 days): ALD (I), LXRX (I), GRT (I), SWHC (I), BQI (I), ATSI (I), DSCM, QCC (I), INCY (BO)

Breakdowns:
Previous Potential Breakdowns: PMI, MNI

Dip Picks: SRZ, NABI, CRNT, REX,
Previous Potential Dips (Looking back 5 days):

Rip Picks:
Previous Potential Dips (Looking back 5 days):

RFR Picks: GGR, AXU, MTG

Top Pick: Imminent Plays (Look for gap downs or gap ups beyond resistance)

Top Missing Piece: Stay in the channel?

Good Luck,

Tyler