The market performed a bullish tail intraday yesterday and reversed after it opened lower. Prices were rejected at lower levels and the SPY rallied and was strong yesterday, it closed right below its 117.50 resistance level. Price might stall at this level for a while before blasting right past through it. My conviction remains bullish till prover otherwise.
Longs:
SBUX: Blasted right past its key resistance for the past 3 months and closed strong for the day. A long on all time frames with the neext IPT being at: 28.50.
UAL: A long that performed well yesterday and closed strong. Has alot of room to go.
USB: Blasted right past its 22.50 key level and has room to go. IPT at 23.60.
INTU: A long that took out key resistance at 46.45 and closed strong. The stock has all the room in the world to the upside as it has taken out historical highs.
ALTR: A long that formed a bullish fuel candle at support on the daily. IPT at 30.60 then at 31.00.
SNDK: A long that took out key resistance and held yesterday. IPT at 40.70 then at 42.00.
NTAP: > 49 would be nice as the next IPT after would at 51.25.
ABT: A long that took out long term resistance levels at 53.25. The resistance goes back to April 20 2010.
DOW: Formed a bullish reversal candle right at the support level it broke out from. The level goes back to the flash crash. This indicates that the stock is still strong and is just taking a breather before moving again.
Breakouts:
QCOM: A long that has room to go above 45. IPT at 45.60.
PM: A long above 57.20. The stock also formed a cup and handle pattern on the hourly.
HAL: Again tested the 35.20 level and failed to get past it. This level wont hold forever if it gets tested time and time again.
Shorts:
LOW: Sold off pretty on some pretty high volume yesterday even as the market was rising. 22.00 is support and if its taken out this stock has some room to go. I mainly picked this stock due to its relative weakness compared to the market and if the market comes in, ill be looking at LOW.
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