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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