The market gapped down due the AA earning report last night.
GOOG, AMZN andAMD are continue to struggle. It seems like these stocks have changed trend to downside.
I will expect more individual stocks will follow suit.
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The target for QQQQ at 45 is still hold. Also I am expecting SPY retest 112.00 area again.
ReplyDeleteSPY Support 3 is 113.38.
ReplyDeletebroke through quickly, but back above it. looks like it therefore might hold.
rerwaf
The VIX had hit the bottom at 16 area couple days ago. It will rise back up.
ReplyDeleteBRCM and MA has joined GOOG, AMZN and AMD now.
I bailed at 1:30 at lunch anticipating reversal for the day. Left SPXU at 34.50..
ReplyDeleteWill reenter before close on anything that looks like a retrace for overnight.
The Christmas rally was up in low volume. At first the market broke out of tight range. I have been mentioned that I don't believe in this breakout rally at all. That is why I have been buying SPXU periodically. The market had hit the top yesterday when it opened higher. I am seeing lots of weakness in the market lately. Lots of individual stocks are having a false breakout.
ReplyDeleteI knew we were going to get back to 113.7x today.. (was looking for .75)..
ReplyDeletesee ya tomorrow!
guorr
resting after hours at SPY support2 , 113.81
ReplyDeleteit's nice how they tag these #s pretty well!
debitina