We now have had 3 major distribution days during the past two weeks. While the market has been resilient, it’s tough to ignore what’s going on in this consolidation range. See the big nasty red down days..they are followed up weak up days.. Thats a distribution pattern.
My guess today would be for a down days since we had an up day yesterday. Thats been the pattern.
Days like this there is no need to get heavy and trade big positions.. We will load up on stocks near support if the opportunity presents itself and just daytrade or trade breakouts.
RAS 3.50 looks good. GRAN need to be in the 1.50-1.60 zone
all the little bank stocks are showing same oversold pullback setup.
dont buy though till u see the bid in the banks..then its time to load up
SNV, SBCF in play also.
PNX good earnings out. Im loading in the 3.2s