The Banks Lead The Charge This Week

The banks got the much needed bounce to start the week as the $XLF, the ETF that tracks the financials, was close to breaking support levels last week. Now the bears get to defend the 200 & 50 day moving average, see below:

___

Inside Exodus, our hybrid screen is littered with financials: $GS, $MS, $BAC, $JPM, & $WFC all lead the charge. For a look at today’s full mover screen in it’s entirety, click HERE.

I’ve listed my favorites below, so keep an eye on these as we begin the week:

See you guys at the open…

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.

__

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:

__

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.

__

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.

__

Happy Fourth of July All!

As we close out the first trading day of July, here are a few names to watch into this shortened holiday trading week. The following names below all come from today’s momentum screen inside Exodus. I will be looking to buy strength:

__

The full screen can be found for members HERE. Make sure to save and bookmark it, and don’t forget to follow along with us inside the trading room.

That is what the current Momentum screen is calling for here, have a look below:

__

Tomorrow should be a pivotal day as we closed right near the lows put in on Monday. Let’s see how well the bulls defend the lows here as we close out another month/quarter. You can bank it that they will be tested early in the morning.

See you guys at the open..

Looking at the $DIA, the ETF that tracks the Old Man Index, The Dow Jones, prices bounced exactly where they should have– right at the 200 day moving average. We saw buyers step-in on the 200 day touch back in April & May. Do you we see the same thing in June?

Monday’s low now become an important low to gage risk. Should we break the lows and fall below the 200 day average, this could create a new wave of selling and you might want to fall back to cash. Take a look at the daily chart below:

__

Also, Oil quietly traded back above $70. From our Exodus MOMO screen, $EOG is in my sights, as is $KMI. As for a biotech lotto ticket, keep one eye on $CLSN here, the 30 minute chart is a thing of beauty.

See you guys at the open…

Despite the market being down a whopping, -1.36% ($SPY), there were a few stocks that held up through the storm. Looking at today’s momentum screen inside Exodus, here are a few names to watch heading into tomorrow tape:

__
__

The fact that $SPXU $FXP, $EDZ, & TZA made today’s screen, leaves room for concern. However, should the market find its footing here, let’s watch the following names: