Thursday, 12 March 2015

The S&P had every reason to try and rally yesterday but did not have the power closing on the lows again, the weakness in $AAPL and oil didn’t help against the backdrop of a plummeting $EURUSD. That being said the Small and Mid-Caps ($IWM and $MDY) held up well and the $IBB continues to be very solid. The futures are green again this morning but this pattern of green opens and red closes is not particularly bullish and I will be continue to be skeptical until we either base around here or get a proper flush.

$SPY the hi-lo yesterday was 205.50-204.40, the futures are pointing to a green open again but the ST trend is to the downside.

$IWM 121.14 is the level I am watching, was strong yesterday but still in a down trend.

$CL_F 54.24 - 46.67 is the range to watch, a re-test of the lows seems likely at the moment.

$AAPL not done going down yet but getting closer, 122.11 pivot to watch today, 120.00 the area I am interested in.

$AMBA too extended to be involved for a swing and a bit thin to day-trade but if we get a trend day through 68.50 I will look to be involved. V strong

$CYBR gapping down p-m test of the gap (52.30) is going to happen how it reacts will set the tone in this one.

$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 back to the middle of its range. 77.26 pivot for today, need a flush and strong reclaim to be involved. I’m not in a hurry.

$FEYE inside day yesterday, potentially ready to go again, watching 42.47 and volume. Stops at 41.06.

$IBB unsurprisingly did an inside day yesterday, I am watching 344 to break for a trend day.

$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.

$JUNO a new issue I am watching on the long side.

$KRE 41.00 for the break and 39.00 for support. CCAR reports may get it going.

$MYL got a move! If it can hold the majority of it I will look for a position for continuation through 60.00

$NFLX short-term extended to the downside but still not a lot of support, likely a weak sideways move here

$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 at a LT DTL, needs time, but I am watching for high volume days

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