We had an inside day yesterday in the indices’ which is being resolved to the downside with a gap down today. The problem is we have seen this so many times before that it is foolish to say ‘this is it’, however we are very extended and there are many macro issues in play. The large trend is still in control however it seems likely that is tested again. In the short term I am looking for shorting opportunities whilst also keeping an eye on the names that hold up well
$SPY 207.10 was Friday’s low and we are gapping below on the open, potential TD down, 206.00 is a level to watch and also the 50sma so expect some ‘basing’ around it
$IWM potentially a huge failed breakout, needs to hold 120 in the short-term. Usually a good tell for the market in general
$CL_F 54.24 - 46.67 is the hi-lo to watch, I am becoming more bearish here I have to say. A trip to the 30s is v possible IMO
$AAPL the event failed to wow and I think it is due a ‘shake-out’. 120 is my target. If gets back above 130 I will reconsider that
$AMBA unlikely to get going in a tricky tape but is on my watch-list as a future leader
$CYBR would love to see it hold the 50s for a while and create a base.
$EBAY something is going on here but it is too extended to be involved, I am watching it though
$FB has gone from looking great to not so great in 3 sessions, needs time still
$FEYE would like it to hold 40.00
$GILD I think this is over-owned and prone to a painful shake I am watching 95.81 – 107.31
$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 is the level to break on this one. I am hunting a good entry for a starter position.
$MYL needs time but is on my watch list for a potential large move, needs to get above 58.00
$NFLX short-term extended to the downside but still not a lot of support, ia m looking for an opportunity to short
$TSLA is very weak IMO, I think a trip to 120 is v possible. 180-185.00 is HUGE.