Longs: WLP, NSC,TJX, HON, ALTR, SBUX
Breakouts: UAL>26.30, SWN<40.50, XOM<79.00, AKS<14.00, VLO<26.00, AXP>50.50
Volatility: (JNJ R=66.80, S=66.20)
Shorts: IAG, ABX, JPM, SU, AKAM, CIEN
Notes:
WLP>80.90
NSC (Sat)
TJX (Sat@54.00)
HON (Sat@60.00)
ALTR (Sat@47.00)
SBUX (Sat@35.00)
XLP, XLV & XLU are the only sectors that are holding their own to the upside. To the downside we have plenty of leading sectors selling off, we have the XLF breaking down followed by the QQQ and the XLK yesterday. We also saw broad selling in commodities with oil selling off along with gold and silver. Investor sentiment is definately bearish at the moment with the SPY back into its 3 month trading range. I will continue to trade with caution with an eye on saturation plays along with breakdowns today.
Breakouts: UAL>26.30, SWN<40.50, XOM<79.00, AKS<14.00, VLO<26.00, AXP>50.50
Volatility: (JNJ R=66.80, S=66.20)
Shorts: IAG, ABX, JPM, SU, AKAM, CIEN
Notes:
WLP>80.90
NSC (Sat)
TJX (Sat@54.00)
HON (Sat@60.00)
ALTR (Sat@47.00)
SBUX (Sat@35.00)
XLP, XLV & XLU are the only sectors that are holding their own to the upside. To the downside we have plenty of leading sectors selling off, we have the XLF breaking down followed by the QQQ and the XLK yesterday. We also saw broad selling in commodities with oil selling off along with gold and silver. Investor sentiment is definately bearish at the moment with the SPY back into its 3 month trading range. I will continue to trade with caution with an eye on saturation plays along with breakdowns today.
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