SPY: Not a great looking candle yesterday… Want to see 161 or 10sma 160.50ish hold for con’t upside. My bias is bullish against 160.50 for a few reasons: 1. Low Volume/Holiday Week, low volume has been bullish all year 2. Holding gains from recent gap-ups 3. 60 minute chart (below) nice higher high/low pattern. Of course I realize we are below 20/50sma…targeting a retest of those and break above. 163.50 is my eow target.
BBRY: Said for 3-4 months now I think single digits coming for this name. Well here is the test and the set-up is pretty simple imo. Below 10 T1 is 9 T2 is 8.50… Above 11 target is 11.50ish. I have a bear bias on this name even after the recent sell-off, My plan is to wait and see if BBRY can break above 10.50 and get in some monthly puts using 11 as my stop. If you can enter on a 10.50 break/push and use 11 as stop, I like the r/r. If I don’t get my wish here I’ll just d/t the action. (wkly, daily, hrly charts below)
AAPL: I think AAPL can test 420 this week possibly today…Plan is to buy a pullback to 408 support or a 414 break targeting 418.5-420. On the other side if this ends up weak then I will short a 408 breakdown targeting 405 then 400. (daily, hrly chart below)
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