If you are an active trader, Friday morning gave plenty opportunity for reducing long position or add some short exposure. Market gapped down and never bounced ,many stocks, had bear flag setup after initial morning bounce and then continuation trend down rest of the day.SPY needs to get back over 280 then over 8/20 MA resistance else next support on 200 MA area.
Watch list contains a mix bag of setups. Some potential bounce plays, some continuation short setups. Market below 8/20 MA so we have be tactical and open to all options. However, i do think there will be a bounce soon given its the last week before end of the quarter and there will be some “window dressing” by find managers ahead of quarter closes.
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ACB Breakout are and 20 MA support 8.40 area for a bounce.[/caption]
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GH Gap fill, 20 MA support around 75/74.60 area.[/caption]
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TEUM Gap fill, 20 MA support around 4.30 area for a bounce.[/caption]
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SE Coiling up here. Watching 25 area.[/caption]
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LABD Biotech short ETF. Watching for a day trade, ideally on a red to green type move at open.[/caption]
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TVIX Our go-to play if market continues to weaken. Ideally on a red to green type move.[/caption]
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ROKU Printing a bear flag pattern on 20 MA rejection. Watching for a short.[/caption]
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SINA Chinese stock. Bear flag break down watch.[/caption]
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WUBA Chinese stock. Bear flag break down on 50 MA rejection.Short continuation watch.[/caption]
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CDNS Never had a real pull back ever since broke out. 8 EMA acted as resistance. Will be watching closely if the support holds and or finally gets a meaningful pull back.[/caption]
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JNUG Gold miner ETF coiling over all moving averages. 11.30 range breakout watch.[/caption]]]>
