SNDK laggard to market, longside trade

The Dow has been leading the Nasdaq so hard that the Nasdaq is a major laggard.  This is mainly due to the (SOX | Quote | Chart | News | PowerRating) and semiconductors.  The Noodles completed their daily tightening on the mini pups and is now trying to breakout a trend reversal.  When this happens, we want to look for the laggards in the market.  (SNDK | Quote | Chart | News | PowerRating) happens to be a nice laggard.  The same (SNDK | Quote | Chart | News | PowerRating) we played short from 64.35 to 58.90 is now giving opportunity for a laggard trade.   SNDK daily is showing a low band coil and 5 period moving averages base above 59.79.  This gives upside to the daily 15 which sits at 62.70.  Trail stops on this one would sit under the 59 level.

The Nqs formed daily mini pups to tighten to the daily 15 period moving average at 1685.  They are now grinding past the daily 15s which leaves the daily 50 period moving average 1704.  Any stocks that are not at or through their daily 15 period moving averages are laggards to the market and worth watching for longside trades (eg: SNDK).

Jea Yu

Jea Yu has been involved with the equities markets for over 10-years. He specializes with intraday trading in the U.S. equities and futures markets. To receive a free 7 day trial to Jea Yu's Underground Trading Pit, click here or call 888.484.8220, ext. 1.