Get To Work

The futures are up, we closed well on Friday, and The PPT is suggesting we still have a bit more upside in the tank. The Russell 2000 held it’s critical support level and now looking to snap back to the 50 day moving average.

I’m just starting my scans for the upcoming week, but will leave you with the Small Bombs screen inside The PPT, enjoy:

$RAX is near breakout levels:

I also Like $VECO here:

Going through my individual charts, the one that sticks out the most is Mr. $FAZ. Further weakness in the market, especially the financials, gives you a “BTFO” move in this 3X bear fund. Not something you want to see if you’re a bull.

With the GDP number right around the corner, anything is still possible. If we do in fact rally, just buy $TNA, The PPT approves.

Looks like a slam dunk back down to $430:

I will look to buy puts if we move below $450.

In other news, the market looks like shit, trade accordingly.

Gold & Silver stocks absolutely took off today, and I’m looking for some follow-through tomorrow. $EGO looks ready for higher prices, I’m a buyer above Wednesday’s high:

$SLW, one of JakeGint’s favorites, looks great here:

$ANDE is begging for new highs:

Curious to see if $CRM can take out it’s recent high of $114.15, nice flag developing:

$DAKT can move if it gets moving, keep it on watch. I am a buyer on strength:

The Russell 2000 is one of my favorite indices to view to get a feel for the market. I’ve noted it before, and will continue to use it rather than the S&P500, mainly because you can find the S&P chart on just about any blog out there.

I will also post the 2000 chart more because it seems that many traders trade $TNA & $TZA based upon the hybrid score in The PPT.

Yesterday, The PPT hybrid score closed oversold, so the play today was to jump in $TNA, like many did in The PPT. Once we found support around 587, that was your time to buy.

It also worth noting, as we were falling this morning, the average overall hybrid score was rising in value, signaling a bounce. There are many studies in The PPT about hybrid divergence in the Forum, so if you’re a PPT member check it out.

So far today, it looks like The PPT won again. Surprised?