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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