Since printing a SL on 2023-08-18, AMEX:SPY had retraced 38% of the 2023-07-23 decline. Selling pressure remained heavy; though three of the four candles were positive, every bar dipped into the body of the previous bar approximately 50%. So while it seemed like a BTD, it did not seem like there was market consensus prices here were too good to pass up.
We have...
BIDU has printed two straight red candles, the last of which a bearish engulfing. Looks intimidating. So no full-size positions here, yet. But we have ATLS off the May 25 SL and broken DTLR off the Jun 20 SH. That $143 area is a great position for stops but I need to see BIDU try to repeat the 7/19 open but actually hold the gains before I consider any position....
Good breakout here over DTLR and renewed RS in market and sector. This is a choppy stock that doesn't generally run away so will wait for the PB but consistently closing over the 9.
TTWO has been on a very strong rally most of the year and after a brief correction that rally has resumed. The $158 area could offer some stiff resistance but the air is clear till then. Great volume and price action on a day where SPY meandered.
This is the second attempt for UPS to move into the 4/25/23 FGD and while volume is weak it is showing price strength and now a higher high.
Nice RR here of about $2.50:$10.
Close over $25 puts this above resistance with potential for a good run as high as $35. Relative strength present but volume a bit lacking. Long as we stay over $25 I'm interested swinging this but really would like to see volume pump in.
I've been in FIS since Jul 5 and the follow-through action has been disappointing to say the least. Still, FIS is holding the breakout and finding support around the $58.25 area and now has the ascending 9ema caught up.
On the M5 there's a clear, well-established descending TL in place and FIS finally broke above it and got some FT in the last few minutes of...
Took position here Tues after strong open, looking for a push over ATLR. Have DTLR coming in around $37.75. Did not realize at the time earnings was yesterday AM but the reaction was a small gap down that reversed and we got a higher close. Volume picking up as well. Generally like the consolidation and green candles with no tail wicks which suggests while sellers...
Took entry here Jul 18 after WMB closed below the 9 - first time since Jun 23 - and took out the Jul 18 O in the opening bars. Looking for a new SH here over $34.25. Thirteen days to earnings so plenty of time for this to print a higher high and test that DTLR around $34.65. Volume has been below average on this pullback suggesting not a ton of sellers here; just...
ASB closed Fri backtesting DTLR and we'll see if it can confirm support. Right now we have ascending EMA's so the stock is trending bullish. Volume could be better coming in just below average. But the market has also been below average.
Above the daily 100 the 200 sits around $20.33. Between we have resistance in the $18.50 area.
ASB is also currently between...
GOOG broke over descending trendline resistance yesterday with +20% volume; not super-impressive but SPY vol was -10% and XLK vol was -25% so clearly GOOG was getting good rotation. TRS now ascending with bullish alignment.
Need to get FT today. This area was good support back in Jul '21 and retested multiple times Jan-Mar '22 before caving in Apr. We got a...
We got a little flagging last week here below DTLR from Jan '22. Volume was weak on BO but rising, along with rising RS. I just questioned the BO a bit too much and missed the entry.
Have overhead resistance between $88 and $90. RR isn't favorable and will just have to watch this and see what it does, if we can get in on a pullback as it approaches $88.
CRK has printed a higher close but volume is lacking. There's a bit of congestion here between $11.50 and $13 but I'm looking for follow-through action off this BO. This admittedly is not a great long candidate but could be a good choice for 25% positioning. Want to see that $11.60 area hold and no more closes below $11.90.
MAT is another I've been in for some time and I love the action here but it is now running into resistance in the $22 area. I expect some hesitation or pullback here soon but this thing has been running well and with above average volume.
The gains come in the early AM and shortly after there's almost always a pullback so no need to chase this one on any open.
CAM is offering a conservative trade for 7% w/ a price target of $60 though CAM has considerable strength, this will likely be topped. If you're trading for a stop at previous support ($52.45) your risk/reward ratio will be roughly 1:1.09. However, CAM has a 1.54 beta so swings should be mild. I have a 3% stop loss at $54.37 which marks the downtrend break, is...
