We have some modest downside follow-through on the indices to a decent amount of fades yesterday. Of course, no real technical damage has been done yet, as we are working through the summer doldrums until the market declares its next big move.
DE Short Idea: In the meantime, Deere continues to be a short idea. On the first chart, below, note the bear flag and potential breakdown. I would look for a move down through $82 as a trigger.
NEON Long DayTrade Idea: And a a long idea would be an old momentum friend in NEON. The stock saw a huge pop higher at the open. On the 5-minute chart, second below, if the $8.20 holds on the initial pullback this morning I would be looking at it for another intraday run higher.
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