Each stock in the DJIA-0.02% reports earnings and creates an important "market memory" level that is usually useful as support or resistance after earnings. What I have done here is to graph what the earnings level is for the entire DJIA-30 stock composite so you can see how the market is acting and where it might find support and resistance using this special technique.
This is all original research and is easy to monitor thanks to the powerful technology here at TradingView.
I have highlighted 3 DJIA-0.02% stocks that are the most POINTS above and below their KEY EARNINGS LEVELS so you might consider opportunities to sell short the strong ones and to buy the weak ones to return to their KEY LEVELS for a re-test. If you buy weak stocks , you want to buy some upside momentum. If you sell short strong stocks , you want to sell on some weakness. At least that's how I approach it. You can also sell short stocks that are rallying back up to their KEY EARNINGS LEVELS and risk a small amount (an average range of daily trading). I also like to buy stocks that pull back to their KEY EARNINGS LEVEL and risk a small amount (an average daily range of trading).
The KEY EARNINGS LEVEL is a special composite of the price action at earnings and I've found it is useful and logical for trading.
Join us at KEY EARNINGS LEVEL chat room to find stocks intraday that are showing up for trading ideas.