Despite my post yesterday about some of them looking sloppy, leaders like AMZN GOOG LNKD PCLN V even GMCR NFLX are just not giving it up. It is hard to see a deeper price correction for the broad market with those marquee stocks hanging in there and shorts failing to capitalize on any sloppiness which had developed.
We have a big jobs number on Friday which you can be sure will get a lot of play. I am seeing some decent setups emerging but still want to see more out of bulls in terms of recapturing some obvious overhead levels on the S&P 500.
Keep an eye on under-watched LRN in the education space, a decent setup with lots of shorts to squeeze. The stock appears to be finding some footing after a pullback.
Thanks Chess as always. Have a great 4th ! What would you be drinking ?
Thanks, JT. Same to you! I’m not a big drinker these days, would be whiskey though.