Market Comments: After 2 up/down days there are a lot of mixed signals but also quite a bit of consolidation on the hourly time frame that could power a move in either direction. I’m going to try to be very patient today.
NKE: Breaking 90 would be a significant break and I’d look for follow through. There is a gap low from 12/21 at 90.48 so that could be significant.
- Trade OR breakouts over FTP, 89.75, but wait for a break of 90 if the OR high is much higher than 89.80.
- Trade OR Reversals over S1, 89.43, and note that yesterday’s low is 89.35 so be careful below that level in a weak market.
Other Long Charts of Interest:
NKE, BEXP, ICE, MCP, BIIB, FTI, JNPR, GILD
GOOG: I know this is a high priced stock but even if are not trading it watch to learn. It closed below yesterday’s low and 600 is a very important level.
- Trade OR Breakdowns below the FTP,603.34, but wait for a break of 600 if it is close.
- Be careful but trade OR reversals below R1, 606.47. Note the low from the day prior to yesterday was 605 sot that could be key resistance.
Other Short Charts of Interest:
GOOG, FCX,LVS,X, EQIX, FFIV, CRM, GS