Energy remains super strong and I still think it has the potential for more upside. You can see on $XLE that the $62 area is where I may think some resistance shows up. But if we pull back ahead of that, i still like the buying opps down around $51 (20d)
My Level: Long off $21 Why: Previous low and daily trendline Coming back into a pocket around $21 which is right into the trendline on the daily
My Level: Long off $94.60 Why: Annual pivot and Previous low Provided nice opportunity last time when it came off annual pivot, so looking for the same this time. Maybe make a double bottom and push back up
My Level: Long off $101.25 Why: Prior Quarterly pivot & 65% Fibonacci retrace level Had a really strong day today, closed on highs. Watching it off 100 for a few days or so, if market shows some strength tomorrow I think $AMD might be good for a join around that $101 level
My Level: Long off $130 & $129 Why: $130 is Prior monthly and you have a monthly pivot and quarterly around $129 When this stock was down around $125, I told how ridiculously oversold the name is, was on my #midweekwatch few weeks back. Want to see the action on it tomorrow, stayed really heavy all day. Hoping for a continuation tomorrow. Doesn’t mean it cannot...
My Level: Long off $125.30 Why: Previous low, 200D & Annual Pivot This name is little bit oversold. You can see 200D is at $125.30 and Annual pivot is at $125.15
Long off $21.10 Why: Previous low, Quarterly pivot and 50D SMA comments: Macy's is an interesting name, has a nice trend on the daily which lines up with my level if you draw a trendline. Been pretty strong since earnings, now pulled back a little. What im looking for is a higher low off this level
My Level: Long off $101.10 Why: Previous low and also a monthly pivot Held the VWAP all day long. Hoping for another leg up tomorrow
My Level: Long off $164.40 Why: Previous low, closed above 50D SMA and has a higher low on the daily It has based around 155s area and made a nice higher low off 50D SMA
My Level: Long off $102 Why: Previous lows, 200D SMA, Monthly & Quarterly pivot Closed above the 50D SMA. I don’t know if the market is gonna gap up or down tomorrow. I want to be prepared if it comes into 200D SMA, I wanna be live there
My Level: Long off $40.45 Why: Quarterly pivot, 50% retrace from today’s action and 50D SMA Looking for little bit of retrace, closed on highs. If it clears $41 can head into the next consolidation area around mid $42s. Not a huge ATR, but could provide a nice opportunity
Kind of trying to possibly position for a swing, but think there are some day trades in here as well. Early weakness and I may look to scoop between 44.3 annual pivot and 43.8
Bitcoin. What I use to gauge the crypto currency market in general. I didnt expect this to be back at 48k so fast. The speed of this gets me thinking we’ll see BTC go higher. 53k is the first level of resistance. 40k is the psychological low level of support.
Strong name that had a deep pullback from the extension. Down about 15% from highs right into the weekly 20sma. Looking to scoop weakness with risk against Friday’s lows. 154.50-155 is the area I’m interested in. This has a lot of room to move back up if we are catching the turn here. I think 160 is possible the same day and 165-168 within a week or 2. Remember,...
Needs a deep pullback to get me interested, but i’m in no rush. 139-140 is the area I want to start considering it. It very well may push towards 145 where I’m hoping it finds enough resistance to send it back to my levels. Remember, in the bigger picture this could have a really move setting up if we finally get back over those highs put in back in May
Back to back inside days getting tight against the upward sloping 20d. Want to either buy a flush towards 113 with risk under Wednesday’s lows or if we push back above Friday’s highs then I will possibly look to build in long on dips as long as we can hold higher lows. Over 121 should send it.
Netflix has been on beastmode since we discussed the breakout of the long base. Looks ready for the next leg up after retesting that important 570 level. Would watch for a flush to psychological 600 level to hold. May even buy some calls on this for a month or so out. I think 700 is in the cards if the market can right itself.
Another from the energy sector is Pioneer Natural. Decent volume and good range. We had a nice breakout, nice flag that busted above. We retested levels and reclaimed and kept going. I want to see this retrace back to the quarterly pivot (159.75) on a weak open and watch to see if buyers show up.