Tuesday, 17 March 2015

The market held and extended its overnight gap yesterday pushing to highs on the close. Yet again the futures are indicating a soft open following a strong day which fits the current narrative of the action ‘undecided’. The charts have an eerily similar look to Thurs-Fri last week, I said then that I liked the early weakness as a potential buy and was very wrong! Despite the strong action in the Indices a number of the ‘big’ names printed inside bars which will help measure the action today, $AAPL $AMZN & $GOOGL all narrowed their ranges tomorrow, if they take out their highs from yday that would be v constructive for the market and I will be watching the $QQQ specifically for that reason. The dollar maybe due a pause in the S-T (Fed tomorrow though) which could help stocks but then there is always the Europe and Greece farce to focus on.

$TRIB holding in reasonably well would like to see it through 20.00 soon. I’m not sure why the 18.80s continue to present such consistent resistance but if we can leave them behind I think the stock could begin a new uptrend.

$SPY gap up, gap down etc… tricky but maybe trying to change the S-T trend. 207.60 is 1 st support. 208.80s a big level of resistance

$IWM leading.

$CL_F 42.85 was yday low, new low this morning at 42.63. Heading to a 3- handle by the looks of it. Some USD weakness will help it hold up but I wouldn’t hold my breath.

$AAPL inside day hi-lo 124.95-122.87. Looks to be gapping higher on open. Potential  trend day Long but be careful/patient it is still consolidating

$AMZN has held most of its post-earnings run and had an inside day yesterday hi-lo 373.94-366.72, watch for a break of the range

$AMBA strong stock but too extended now. Waiting for new pivots to emerge.

$C after a dreadful start to the year it is back to where it started. Inside day hi-lo 54.04-53.40

$EBAY inside day hi-lo 59.98-59.12 can be a tricky stock to trade but watch out for a trend day through that range

$FB 78 is basically exactly the mid-point of this 9 month consolidation channel and it is holding it reasonably well. Nice candle albeit weak in a strong day for the market. Longs vs 77.36 seem sensible.

$FEYE and $CYBR had interesting candles yesterday. Still watching.

$JAZZ testing 180.00 again…

$KRE $XLF was stronger yesterday but some time churing above 41.00 is constructive, be involved in a trend day up

$SHAK needs to tighten up but has potential to take out IPO highs.

$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 still waiting for some volume and a break of its range. Be patient.

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