We have a bit of a broad market bounce going this morning, but it is far from a rip-roaring rally that compels traders to chase. I am playing along with a few select positions, including EXPE, which I profiled here the other night as being properly set up. As the session progresses, one thing to watch out for is how long the bulls can hold price back above 1330 on the S&P 500. The longer that happens, the more confidence the bulls are likely to gain, which could beget more buying. Below 1330, and traders will likely start getting panicky over a failed bounce, which could see things get ugly in a hurry.
Top Long Ideas: EXPE FFIV NTAP SCSS
you targeting cup to neckline extension ($28.20ish) for target on EXPE? Thanks for the idea…..picked up some yesterday prior to B/O.
Thanks…not a fan of price targets in general.