Wednesday’s action left a lot of charts broken across the board, but I was happy to see it. We needed a little fear in the market as the VIX was headed to zero. I felt like there was nothing left to buy once $GOOG traded above $800 on Tuesday.
So what’s the next play? I’m not entirely sure. But, I do know one thing, the bears are out and about.
I’m light on ideas tonight as my scans are coming in light, but I think if we see early strength tomorrow, you have to look for a few shorts. And, on early weakness, I think you have to look for the reversal.
Only two charts caught my eye this evening/morning, and that is $CSTR & MNST. I like the way both are flagging right near important moving averages. I will be watching the two going forward.
you like mnst for a long? was thinking about shorting this morning but went long instead. nice strength during the plunge too…
big vol spike MNST, I do like it.