Boeing looks just about ready to bust down under the consolidation highlighted on the daily chart, below.
The stock has seen a tremendous run since the beginning of 2013 but is clearly in correction mode. I suspect another leg down is in the cards. This is a short idea on any further weakness. At this point, I would expect an undershoot of the 200-day moving average.
And on the long side, keep an eye on commodities such as crude, corn, and sugar for strength to trigger entries/adds.
Drop me your top tickers overnight.
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TNA
$SAVE has become wide and loose, expect a move down to $55
VXX these pin less grenade vol instruments going haywire to the upside seems possible. The ultimate worst to first.
TZA UVXY SPXS BIS SQQQ JDST DUST etc…….
TRQ … triple play … copper, gold & potential takeover target