The premarket action is almost opposite of yesterday premarket action. Watch for QQQQ. It will probably open at near the 52 week high. If QQQQ breaks out, you can expect most stocks will follow or continue to breakout. I believe SPY will retest 107.50 area.
gcl,
ReplyDeletedo you like ENER for technical reasons, or fundamentals, or both. Also, you said the industry group is starting to run, do you think batteries will run w solar? Chart looks spring coiled with huge volume a few weeks ago. thanks for heads up.
Just went long SSO. morning gap almost filled.
ReplyDeleteJDT, I usually go with the hot sectors. Then I looked at the company by itself to check out any news. Then I looked at the chart.
ReplyDeleteDefensive stocks broke out last week.
It is time for Solar Energy sectors.
Watch how it close the morning gap.
After gap fill this a.m., I went long SSO because it feels like the hardest thing to do (but that is what charts are saying...so far)
ReplyDeleteThat is correct JDT.
ReplyDeleteTrade what the market gives you, not what you think.
Sometimes when you are wrong, admit it and move on or switch to other side.
My TSL and ENER are looking good.
NOC will stay in a range between 50 to 52 for couple days.
This morning, it opened higher. The market went down to closed the morning gap. It retested twice at that level. Now it bounced off from it and going higher. This is very bullish sign. But QQQQ hadn't breakout yet. Also watch for SPY to hit 107.50. If it does and continue go higher, another bullish sign.
ReplyDeletethe market feels heavy in here. May be time to cut bait and go short. Gonna see what happens around 2:00 e.t.
ReplyDeleteis this a good dip to buy now and ditch at close?
ReplyDeletetrying to see if it is goes lower by 3:20 est
sorry - that was with regards to SPY
ReplyDeleteThe daytraders and specialists are working hard to scalp couple cents here and there. That is why the market is very choppy.
ReplyDeleteRight now SPY is stuck in a a trading range between 107 and 107.25. Which way is it going to go?
ReplyDeletegiven we have FOMC meeting tomorrow, i guess it will be a big up day tomorrow...
ReplyDeleteThe SPY closed where it's opened. QQQQ closed below where it's opened. It is very mixed signal today.
ReplyDelete