iBankCoin
Joined Jan 27, 2008
7,062 Blog Posts

4 Charts For The 4th of July

Here are four charts to watch as the market resumes on Thursday, all of which come from the momentum screen inside Exodus. The first is a recent high flying iPO, $PS. Watch for continuation and a move back up to $30 if we can knock out Monday’s high. This was was at the top of our MOMO screen.

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Next up is $SE, which presents to us a a nice little falling wedge pattern. This one is in a very hot sector, online gaming, and looks poised to break higher. The MOMO screen says keep it on watch here:

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Surprisingly, select retail names are not only holding up, but performing nicely. One of the leaders here is $URBN. Flagged on Tuesday’s screen, let’s see if we can break to 52 week highs here.

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And, if the bottom falls out of the market here, look no further than $SQQQ. This is the ETF which shorts the NASDAQ, so if you think the market is due to correct here, this might be your play. The MOMO screen likes it.

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Happy Fourth of July All!

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