SPX: High volume, 3-day pullback in the markets… 1690 a support zone I would like to see hold. We traded below the 10 SMA yesterday but closed back above that level. Washington DC in the headlines this week which always leads to uncertainty…that being said, I like the uncertainty because the market usually does too (This year at least). Looking for a bounce in the markets targeting 1710 as T1 using the 10 SMA & 1690 as levels of support.
AAPL: Sloppy chart recently but a good trader with nice intraday ranges. With a chart like this with no real pattern I like to keep it real simple…490 as S1 and yesterdays lows as S2, these levels hold I think we see 500+ again very soon. Keep in mind though, we have bounced from 448 to nearly 500 in the last 5 days so a sideways day or even a little pullback may be on deck.
BAC: BAC let go of it’s pattern yesterday and banks in general were pretty nasty. If I am right about a market bounce coming then this should hold 14 support and look to bounce. Below 14 I would look to the 100 SMA as my next support. 14.50 T1 to the upside.
BIDU: Breakout looming over 150…that’s a nice big round even number to squeeze the shorts even more. Watch for volume this breakout looks ready!
CMG: Like the doji yesterday. Use the lows of that candle & the 20 SMA as support and T1 421-422, 10 SMA. Looking good for a bounce after a little pull last 3 days
EBAY: EBAY grinding higher…no real pullback with the markets last few days. What I love here is the volume pattern. EBAY could be ready to test recent highs by the end of this week. Keep it on watch been acting well lately.
LNKD: Hammer time yesterday 237 as support and the lows of the hammer candle… T1 246 then T2 250.
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