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20020320

The NASDAQ experienced a downward gap influenced by Nvidia's short, leading to potential shorting opportunities as several tech stocks reversed under trend lines. The DJIA remains in high-level consolidation but may decline without stronger volume, while housing stocks are expected to continue lowering due to rising interest rates. The model portfolio highlights Expedia's positive performance due to a deal with Delta Airlines, while stops are adjusted for Best Buy and S.P.X.

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Harvey Dychiao
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2 views1 page

20020320

The NASDAQ experienced a downward gap influenced by Nvidia's short, leading to potential shorting opportunities as several tech stocks reversed under trend lines. The DJIA remains in high-level consolidation but may decline without stronger volume, while housing stocks are expected to continue lowering due to rising interest rates. The model portfolio highlights Expedia's positive performance due to a deal with Delta Airlines, while stops are adjusted for Best Buy and S.P.X.

Uploaded by

Harvey Dychiao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Welcome ARCHIVE Morning Update Chat Room Charting FAQ's

NEWSLETTER & Oscillator Programs

Hello out there stock fans. Once again the NASDAQ gapped down at the open with last night's Nvidia (NVDA)
short leading the way to the downside with a $5 gain. Numerous tech stocks reversed today undercutting
trend lines, which can also provide additional shorting opportunities. This is what we saw with Veritas (VRTS)
today. Anytime a stock fails a pattern and breaks back under a trend line it has recently broken out from,
that's a breakout failure. Turn such breakout failures into opportunities and quickly reverse a position and
pro t from it when this happens. This is especially true when the index fails such as was the case today with
the NASDAQ undercutting 1846.

Today's market action also created a lower high on the SOX and the NASDAQ as well. This is going to be
tough to overcome and sets the stage for lower prices on this index and its stocks. Let's see this SOX index
and the NASDAQ.

The DJIA undercut a small trend line today, but is still holding onto its high level consolidation. Hopefully
this pattern will hold, but without stronger volume this index will probably trade lower from here. Once
again a big negative is found in the VIX which has a history of exposing potential turns in the market when
at these low levels.

Now some of its leading tech stocks that are close to resolving a pattern. These are tough stocks so it is very
probable that 'whipping' is going to be a problem. Be careful.

Housing stocks continue to suffer as interest rates move up and the fact is they've had a fairly large and long
move. Many of these charts suggest that they are going to continue to lower in price. This would of course
give us good shorting opportunities. Let's look at a few that could lower in price soon.

MODEL PORTFOLIO
Expedia.com (EXPE) held up well early on news out today about a deal with Delta Airlines. This news gave
lift to this stock and pushed it into new highs on good volume. I will raise stops on this stock to $63. Best Buy
(BBY) still looks good and stops on this stock will remain at $75 while S.P.X. (SPW) came down a few points
today on light volume. Stops will remain on this one at $140.
Remember no letter tomorrow as usual and I will not have one this Sunday. I will see you next on Monday of
next week.
Daniel J. Zanger
Http://www.Chartpattern.com

Copyright © 2021 Daniel J. Zanger


All rights reserved. Do not duplicate or redistribute in any form.

CHARTPATTERN.COMTM - Technical stock analyst and World Record Holder Dan ZangerTM shares
pro table strategies for trading the stock market in the The Zanger ReportTM. The Zanger ReportTM is
a nightly newsletter that features breakouts, swing trading, breakout trading, technical stock chart
analysis, stock tips, market research, hot stocks, and commented charts with highlighted
chartpatterns. Dan ZangerTM shares additional real time strategy plays daily in his large chatroom.

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