Stocks wavered around the flat-line for most of Friday trading session following a weaker-than-expected consumer sentiment report and a mixed batch of corporate earnings. The major indices however, turned decisively higher in the final minutes of trading to close at their best level since December 2007 after headlines out of Washington indicated Republican lawmakers are open to a three-month debt ceiling extension.
Among market leaders, Aqua America Inc. (WTR) soared to new high, up 1.02% on strong volume to 26.87. This is bullish from a technical perspective. In fact, as the chart below indicated, WTR could climb up to test key technical resistance near 29 as it extends Friday bullish breakout. Just so that you know, initially profiled in our January 9, 2013 “Swing Trader Bulletin” WTR had gained about 4% and remained well position.
The graphic below is from our “U.S. Market ETF Trading Map”, which show the near-term technical bias and trading ranges for WTR. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red. The yellow bars identify period of neutral or sideways trading pattern. Additionally, the light-blue shading represents the short-term trading range. A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading). Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.
Chart 1.1 – Aqua America Inc. (daily)
You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.
This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?
Subscribe to CEM News to receive more in-depth research from Capital Essence.
P.S. Take advantage of the 30 days special trial [new member only]. Join a small group of elite traders and receiving these daily trading ideas by click here to subscribe.