The midpoint of yesterday's bar (3/23) is the line in the sand
and these leading stocks have lost the battle. Only reason
we're up overall is the overextended nature of the selloff.
CMG didn't make a nudge today, GOOG weak tap higher and has yet to
fill even first gap. NFLX same thing. The
biotech's are still among the SPY pct leaders year
to date, and they look terrible, BIS (double short
volume) even higher. The bios get some hellacious tails, but
they look like toast. TRIP is the best performer in the SPY
this year ... is this stock going up? Airlines about the only
thing giving some "lift"
I see no leadership in the SPY at all. Momentum all gone
and these wild earnings gaps from last quarter have to fill - now
is that time. Lots of logical fib lines coming into play on a
lot of those charts. New momo play is T, which should say a
lot. MSFT is fine, CAT new yearly highs, JNJ looks great on
the breakout. TSLA, NFLX, CMG, all that stuff falling
down hard.
CMG GOOG CELG TRIP - SPY leaders falling hard
Posted by cmunny on 25th of Mar 2014 at 04:36 pm
The midpoint of yesterday's bar (3/23) is the line in the sand and these leading stocks have lost the battle. Only reason we're up overall is the overextended nature of the selloff. CMG didn't make a nudge today, GOOG weak tap higher and has yet to fill even first gap. NFLX same thing. The biotech's are still among the SPY pct leaders year to date, and they look terrible, BIS (double short volume) even higher. The bios get some hellacious tails, but they look like toast. TRIP is the best performer in the SPY this year ... is this stock going up? Airlines about the only thing giving some "lift"
SPY Rising Wedges breaking down , T JNJ CAT MSFT strong
Posted by cmunny on 26th of Mar 2014 at 01:27 am
I see no leadership in the SPY at all. Momentum all gone and these wild earnings gaps from last quarter have to fill - now is that time. Lots of logical fib lines coming into play on a lot of those charts. New momo play is T, which should say a lot. MSFT is fine, CAT new yearly highs, JNJ looks great on the breakout. TSLA, NFLX, CMG, all that stuff falling down hard.
HAR breaking down as per note last night
Posted by cmunny on 26th of Mar 2014 at 01:17 pm
/ES taking out alerts, down we go
Title: Thank you cmunny for
Posted by hweinstein4 on 26th of Mar 2014 at 08:56 am
Thank you cmunny for all of your timely updates HW1nyc