Looking for 29 area for the gap fill, then hopefully 33 resistance area.
I think a shift out of big tech names has already started, and MSFT will continue to weaken as investors move money to less extended old economy stocks like energy and finance. I am looking at buying the Oct22 270/255 put spread + selling the Oct15 255p for around .60 cents hopefully, after failed bounce higher.
One of the rare times I buy VXX. The SPX gains were too lopsided against it, so I would expect a spike in the morning.
SHOP had a pretty ugly candle Friday, and the chart looks sick (bad sick), so I would project it resumes lower into earnings. Maybe even due to increasing costs, earnings won't be too great as well.
This 4 hour chart of GD has a cup and small handle forming. I think it should move up at least to 210 pretty soon, based on the a typical Cup & Handle projected target.
SPLK seems relatively strong. Should continue for a bit i think.
CBRE should resume higher. It has favorable momentum. Trying to work on my timing better, but I think it should pick up momentum here, today.
AMZN's move today is just a prelude for a continuation to between 3500 and 3600 next week.
ANTM - looks like ready to break trendline and move higher.
EWW showing big move today. Should resume higher probably breaking above recent highs.
Not getting too emotionally wrapped up in the move higher today. I think a likely scenario is a retest of the 20ma then a drop toward the 200ma. I do have longs still (INTC, BA, ATHM), but I also think it's worthwhile to be set up if this bounce fails.
BA at resistance around 200ma and trendline. I think it may get through it after a little struggle.
INTC should move higher after it clears the current levels. Next resistance is the 200ma, but I believe it's true target is to fill the gap by earnings.
CAG not a stock I normally would buy, but the chart is very compelling. Don't want to jinx myself, but seems like an easy move higher. Looking for 35. Probably will buy the Mar18 37 call, or the Dec17 35 call... or both.
PYPL looks like needs to weaken a bit. It hasn't touched it's 200 day in a long time. Might be due. i bought the 275/272.5 put spread, and sold the 260p. Paid .01, including commission.
Stock has struggled to find strength, but I think momentum is starting to return. Looking for match of recent highs at 47, and then to low 50's.
CE looks like it will weaken taking price to the 132 area. Needs to break its 200 day, but as its the second time in a short duration, probably has more success. Note, it had two bearish engulfings in a row.
TWTR seems to be struggling at the 200MA. In the past, it tends to look like its getting breaking out from the 200, only to fail a week later. I think it's doing the same now. Should move lower, hopefully to 55 area. For next week, I bought a 61/59/57 put butterfly for .25.