SPY is testing the top of the channel and the upper Bollinger band.

McClellan Oscillator is at an extreme overbought level.

TLT is retesting breakout levels and the golden cross.

Watching a few more setups for the rest of the week:

AVB – Worked off overbought levels quickly & maintained price. Testing the long term descending trend line. Would like to see a break higher on heavy volume.

JPM – Put in a higher low and closed under volume resistance. Watch for an increase in volume for the break higher.

ARG – Closed at volume resistance. Watching for above average volume to break higher.

EXPE – Failed the channel and the retest was rejected. TRIP is trading lower during the extended hours session after reporting their earnings. EXPE will likely trade lower in sympathy.

MRO – Energy sector has been running strong over the past two weeks & if it starts to pull in/digest then I would expect to see a rejection off the descending trend line.

ROK – If the market pulls back look for a test of the top trend line of the channel for a low risk/reward short opportunity.

To the rhythm of a time bomb ticking away,
@AffluenzaVirus

One Response to “Watchlist 5.8.13 | Re-Education”

1. 

   larry

   May 9, 2013 at 3:10 am

   just wanted to say I love your posts. letting you know you have some quiet readers/fans!

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