The selling abated for the day at least but trading was choppy within a smallish trading range on average volumes. Gains on the open were quickly lost until an early afternoon rally took place which provided most of the gains for the day as late afternoon became range bound. Our XJO index closed up 19.4 points or 0.4% at session’s end. We have posted a few long setups which, although they look positive should be approached with caution and by aggressive traders only. Sectors were mostly positive, the biggest mover being Health, up 2.4%. Information Technology was also strong and Gold fared well after the futures broke out of a bullish triangle pattern overnight. US futures are up around 0.5% at the time of writing after the major US indices lost more ground last night; the Dow Jones down 0.5% and the Nasdaq  0.7% lower.

Similar stock trading tips:

1. Wednesday 6th July, 2011