Chart speaks for itself. A lot of people will be watching this tomorrow. I'm a buy above 2169. Would love a touch back to the 2155 area though for a better entry.
The red area will provide a lot of overhead resistance. We could see a strong rally if SPY breaks above the 382 up into the 618. If price fails at the 618 however, expect to see a resumption of the downward trend. A potential break of the low could take us to the green boxes. I would be extremely surprised to see a V bottom recovery right back to the ATH at...
Like RNG long above the box and short below the box. My bias is long on this one as it is showing relative strength in a very weak market.
Like TEAM long above the box and short below. Targets are dotted black lines.
Like COUP long above the box Short below the box. Black dotted lines are my targets. My bias is long on this one, but who knows these days.
Like it above the box back to most recent highs and then extension targets.
COST showing relative strength.. Must be the sale of all that toilet paper. Like it if it holds inside the box and above.
Keeping an eye on the stocks that are holding up in the market turmoil. This one looks good above the box.
Would like to build a position between 100 and 90. Stop out with a hold below 90.
Chart looks like an obvious short but I've seen strong bounces back to the the 618 with this set up. Watch for price to under cut then reclaim on some random unexpected positive news. Below the green box trade is dead.
ETSY still strong on the work from home theme. Long above green box stops below green box.. Possible secondary entry at the longer term 382 at 55ish.
Although we had an explosive close on Friday we are still stuck in an h pattern. This pattern can either lead to a significant drop or pop and very hard to predict. A new test of the lows will look like an obvious short but can explode higher from there and similarly a rally up to 300 can be sold hard only to take out the lows quickly. I prefer to look for plays...
Green box = demand...Red box supply. Would not be surprised to see some short covering here and a bit of a rally back into supply. Saw a bounce late Friday. Will watch for follow through Monday.
A lot of bio/healthcare names looking strong. Like them if they hold their 8 week averages.
Like it above the box. Falls below box will wait for it to reset. 30.50 probably key area to watch.
Like IBB if it breaks and holds the box on chart. Targets at extensions. Stops below box.
IWM still looks bullish to me despite weak closes for SPY and DIA. A lot of buying in small cap gold and bio maybe? On watch for move above 170.