SPX very strong resist @ 61.8% level. rejected 3 times consecutively. closed today below 50% 2702.8 so very likely see a move to bottom cloud 2680 first. if breaks 2680, see weekly mid BB 2671 or even 38.2% 2662. below that, all the way back to 2591. NO panic. trade the trend.
IWM Rejection continues
VIX closed the day in the red: -2.82%
BPSPX StochRSI lifted a bit more, though still in KI$$ neutral zone. BPSPX itself rose again, which is positive and part of the reason I’m not assuming SPX stocks didn’t complete a wave iv low.
AMZN has bounced from low 1270 to the all time high today at 1500. that’s phenomenal! huge red candle leading to close not a good signal. MUST hold above 1474, or drop to 1466 first. IF no support, then possibly drop to upper cloud on hourly chart 1437 level. that’s a STEAL BUY for intra-day bounce.
WMT continues going lower, trying to close the gap
TEAM mentioned yesterday about this growth name having high short interest and ready to break. Well, today it broke $55 on 1.8m shares on avg of 710k. It held that level, but couldn’t close above the 52-high. No matter what, it’s looking great still.
MU short setup
JD short setup
PCLN 60 min short setup – Target: 1846. – 1796
INTC 60 min short setup – Target: 45.14 – 43.97
TWLO – downtrend seems to be broken and now just watching for that box breakout…
