Monday, the 5th & Tuesday, the 6th are historically bullish with the S&P increasing 61.9% & 71.4% of the time. Take that with a grain of salt and continue to be nimble. Here are some charts I’m watching.
Longs
CRM – Higher low put in on the 200ema. Recaptured the 50% retracement. Looking for first target of recent highs $161.60.
NOC – Ascending triangle. A failure of the trend line and/or 50ema would be my stop.
WLT – Technical base being put in. I am watching for volume confirmation and a push over this volume resistance.
ATW – Good look ascending triangle or mini cup & handle pattern. As usual, use the rising trend line as a stop.
BLL – Watching for heavy volume for a push over $43.70 to start this next leg higher. I want to see something over 300% daily average volume before getting involved.
Shorts
COV – If we can bounce and put in a lower high in the 57-58 range, I’ll be looking to start a new short position.
PCYC – 20ema on the weekly chart is $57.00. If we lose $57.00 I will look to start a small short position with the first target at $51.10. Stop is a close above the 8ema on the daily.
Hands up and the wallets in the sack,
@AffluenzaVirus
