The broader market fell today at a key inflection point.
CROX has been incredibly strong but I believe a pull back is imminent. My buy point is closer to 28.
CIEN should find some get some selling pressure here on profit taking after a good run from a flat base breakout. Also insider selling is suspicious.
TEAM was rejected sharply on a break of the ATH. I believe the failure was a case of nervous traders taking profits at the the 100 handle on a Friday. If this can pull back and hold the 50 SMA a break of 100 the second time could be explosive. Will be interesting to watch.
I will probably start building a position in KL on a pull back here into the 32 to 29 area.
SPY has rallied back to an area of heave resistance. Watching for how price will react to this zone. Many traders will see this rally as a chance to unload weak positions.
CGC has had a nice run up, but I am expecting a pull back at this fib confluence especially if there is profit taking in the broader market. I will look for longs again if it comes back to the 200 and holds.
CRON looks like it wants to break out. With set ups like this I either look to buy on a pull back into support for a pre break out buy or will I sell into parabolic breakouts at the 1.27 inversion. Please note I am a short term trader.
IF longer term treasuries find trend line support and continues the trend upward stocks are likely to continue their trend downward.
I believe we are in for a deeper correction but now a rally of some sort seem probable. Very extended, extreme VIX, at the 200 period on the weekly and negative sentiment everywhere. One solid positive news story could do it. I will be watching for a hard sell lower then heavy buying with volume to come in giving us a move back up into resistance with a second...
It always amazes me how the technicals always seems to match up beautifully with these economic news days. Suffice to say if this line holds tomorrow rates and the market will will rally. If the line is broken I expect the market to break support as well.
SPY printed a very obvious pin bar with some divergence. Good chance for a move back up to the top of the channel. Just need one positive news story or a tweet and there could be heavy buying.
If INTC can break and hold above 50 its work a look.
SUPN On watch for break of cloud and a close above 200.
CLX over reaching here. Watch for pull back at least to the 382 or 618. Traders will lighten up on defensive stock if the market get a relief rally in the next days.
I like this type of pull back to support above the 20 SMA on lower volume. Need the general market to turn however before entry.
Will be watching for a bounce in the green zone. Trend line has formed long term support and the MJ stocks deserve some relief...at least temporarily.
Like the setup on ESRX if the market starts to bounce this week.