 |
| Bullish |
- Futures are up moderately this morning
- No economic reports due out today
- Market found support at 1262 level where it was quickly bought up
- Head and shoulders on the SPX 60min is still in play
- Market could play out like on Sept. 1st and Dec. 1st bouncing off of support and a big breakthrough to the upside
- EUR/USD is trying to bounce back at these levels - resistance at 200day moving average 1.307
- GBP/USD still trying to get through the 150 day moving average - resistance at the downward trendline 1.562
- USD/JPY showed weakness yesterday as it broke under support
- Bulls still need to claim the 1276 to put this consolidation to rest
- Bears are still looking to claim the 1262 level to drive this market down
- Dip buying remains strong as we saw yesterday
Stock Watch
 |
| ALKS |
ALKS has a nice gap to fill and has been consolidating nicely at this point. Wait for a break of the 200 day moving average at 12.68 before going long and use that point as a good stop loss. Good risk/reward in this trade.
No comments:
Post a Comment