For those that cannot make webinar.. I am happy to forward a link for the replay.. and can do a quick 5 min Video which is shorter to watch
Technical Analysis Video Webinar, 15 mins. Today 1pm EST- https://join.startmeeting.com/info69336
Dial-In Number (United States): (701) 801-1211, Access Code: 840-955-999
Stocks not doing much just past Europe’s close. Minor rally back in S&P while NASDAQ still down -0.50%. DJIA should be mentioned for finally joining SPX and NDX in getting over June highs, a minor positive for this
Breadth is 3/2 positive while volume more flat.- JUST IN THE LAST 24 hours.. we’ve seen a confluence of COUNTER-TREND SELLS on the S5INFT index- TECHNOLOGY. And TNX- 10yr yields.. and also XLF- Financials.. while both XLF and XLI are challenging their respective trends from January. So a BIG area for the market heading into tomorrow.
S&P HOURLY- 2833 important for traders. Then 2813-4. Under that leads to a test of 2789-92 area
Any move towards 2849 should be sold into today’s close.. 2852-5 impt on upside above 2849 for futures
OIH showing some promising signs today after having been beaten down over the prior weeks
Like owning this for a bounce on the ability of this to hold above 25 by today’s close
S&P 500 INFO TECH index.. is getting counter-trend sells today- My thinking is that TECH will turn down in the days ahead.
Its right to position out of Tech near-term..
YIELDS- 10yr .. also showing evidence that a turn back lower can happen- I like buying TREASUREIS today. TY.. and betting on yields going lower
Exiting AMZN LONGS by close- consider Shorting-
AMZN showing the SAME kind of negative momentum divergence and overbought conditions above long-term uptrend that FB did
I like taking profits in AMZN before earnings and for aggressive traders.. like shorting for a move down to 1647-8 while under that is definitely possible on extreme move and should watch 1567, 1413