Being that it is option expiration week, I would not be surprised to see a large move in the next few days. In my opinion, the bulls needed a stronger close to really run with the ball here, yet failed to bring it.
Going through my screens tonight I am still seeing a number of short setups taking place. On market weakness, I want to get short the following names:
Bed Bath & Beyond Inc. [[BBBY]] Look for a break in this bear wedge to get short:
Ameriprise Financial, Inc. [[AMP]] Look for a breakdown below $27.30
Reliance Steel & Aluminum Reliance Steel & Aluminum Reliance Steel & Aluminum Reliance Steel & Aluminum [[RS]] We got our trendline break today
Synchronoss Technologies, Inc. [[SNCR]] Look for a move below the 200 day moving average to get short
Digital River, Inc. [[DRIV]] Look to get short with a break below $33.50
Note: Danny has some great charts explaining buying and selling pressure, go check them out.
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Futures just broke out above 1,000, wow.
And running. Might be interesting tomorrow on the long side. Let’s see if it’s faded, or if it runs. My money is on 1200/10k.
Not tomorrow of course, mid term
A few long ideas:
SRZ: http://chart.ly/7nfpkx
MEG: http://chart.ly/2yhvgt
GOK: http://chart.ly/fy8bbh
CNXT: http://chart.ly/gerksa
CAMP: http://chart.ly/yd9g4d
AAV: http://chart.ly/ksdqzx
You going to 24 hours trading RC ?! =)
The McClellan Nas and NYSE are both in downward trend. Also Weekly SPX looks indown trend. Lastly the Commercial block guys i.e., “smart money” are more short than long now. Got to think its down from here.
from the long list above: CAMP, GOK, MEG, AAV, & SRZ breaking out/broke out