Squeezed out of my short on Thursday and then washed out of longs on Friday says it all about the market at the moment, tricky. In hindsight my stops on the longs should have been tighter, in the S-T we are still being controlled by a down-trend so Longs are harder to trust. In general the market is very extended but it has been for a while and the predominant trend is still up until it isn’t. We seem to be keying of the USD strength at the moment which is going (or is) parabolic at the moment, a pause in the upward momentum may take the pressure off the markets. The Futures are nicely green as of writing this, I think we need to be ready to act on the long or short side depending on how the first couple of hours pan out, I will wait to see whether the early strength is going to hold or whether we are going to retest the lows.
$TRIB holding in reasonably well would like to see it through 20.00 soon.
$SPY gapping open punishing any shorts held over the weekend. 207.00 is a key pivot any meaningful consolidation above it would be constructive. Below that is 204.58 and 204.40, it we lose these levels 200.00 is the next spot to watch
$IWM above last week’s high in the p-m, has been leading. Looking for a trend day to buy.
$CL_F ticked 43.58 overnight, cute, has a low of 43.57. Not done going down IMO, think the 30 handle is coming soon
$AAPL 121.63 and then 120.00 are support, still being controlled by the DTL
$AMBA strong stock but too extended to be initiating here, on my watchlist but that is all
$EBAY a bit more sideways chopping would be ideal, 58.00 a good level to buy or a strong trend day. Something is cooking here IMO.
$FB holding 78 but weak on Friday, I think it has potential to hold the upper level of its range which would bode well for a breakout. I am looking for a trend day to be involved.
$FEYE holding up well despite a weak Friday
$GILD until it clears 105 I am sceptical, watching 95.81 – 107.31. Is over-owned IMO but it is in a red hot sector so take care.
$JAZZ choppy and thin. I am waiting for a break above 180 with volume to be involved, or a heavy volume move to 180 to start a position.
$KRE working on a major break out (monthly time frame), dips to 41 are buyable vs 40.69
$NFLX I wouldn’t be long.
$SHAK needs to tighten up but has potential to take out IPO highs soon
$TSLA is very weak IMO, I think a trip to 120 is v possible. 180-185.00 is HUGE. Unless it retakes 225ish don’t trust rallies.
$TWTR had a decent first half of the session on Friday before getting sold with everything else resulting in an ugly candle. I think a large move is potentially brewing to the upside here so I am looking for a good swing entry