Oil Continues To Be In “Do Not Touch Mode”

Oil is falling once again to the tune of 3% and now threatening to breakdown on a large scale. Even with a tropical storm forming in the Gulf, investors continue to sell off the commodity as current supply is too great.

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Here’s a weekly chart of the commodity showing the past few years of price history. With today’s move, we just pierced through the April lows, 43.76. New support becomes, 42.20, which was the low last October. Should we pierce back below $42, all bets are off for oil stocks. Take a look below:

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It was a bullish day indeed for investors as the S&P 500 hit a fresh new high. We had nearly 400 tickers on tonight’s hybrid screen, a number we have not seen in weeks. For those interested in a little chart surfing this evening: CLICK HERE for today’s hybrid movers

Bank of America, symbol $BAC, tops today’s list and is even setup technically for a move higher here. Have a look at the daily chart:

Other tickers of interest from our hybrid screen include:

Be sure to check out our Exodus trading room as we look to take a few of these setups this week. I’m off to celebrate my daughter turning 6. See you guys at the open…

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The market is off to a good start this morning with Tech stocks recovering lost ground. Also, the S&P 500 is back to fresh new highs putting put options and VIX positions worthless again, indeud.

Here’s a look at the top industries out the gate:

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From today’s runner screen inside Exodus, here are a few tickers to watch to start your week:

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I’ve done very little in the market since returning home, and doubt I will do much tomorrow with Option Expiration upon us. Stocks were down across the board with utilities leading the way once again, never a good sight to see for the bulls (see below):

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That said, we had nearly 100 tickers on today’s hybrid screen inside Exodus, indicating that there was some buying going on beneath the surface. From today’s hybrid screen, here are a few tickers to watch going forward:

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I’ll be wrapping up a few things on my end tomorrow as we close out the week. Let the market find its footing here and I’ll get active again on the trading side of things.

For those interested in today’s full hybrid screen, it can be found HERE. Have a good night everyone!

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My stock of the year, $NTDOY is up another 3% as it announces a new line up of games at E3. Not only did we get a new Metroid game, but we got two, along with a new Pokemon game. Super Mario is also coming in October, but we already knew that.

Nintendo is doing everything right, and appears to be listening to its customers. I have no plans on selling my stock even after this run. Here are some reactions from gamers on Twitter following Nintendo’s E3 event:

NINTENDO FUCKING WON SO HARD JESUS

— UltimateDSman (@UltimateDSman) June 13, 2017

NINTENDO STOP!! YOU ALREADY WON!!! THIS IS TOO MUCH!!! WE GET IT YOU WON!!! BRING OUT SMASH AND IM CALLING THE COPS!! pic.twitter.com/TugO1ScuRY

— J SLVA ? #E32017 (@JonySilvaX) June 13, 2017

Nintendo was like, "oh, you want your Metroid game, fans of Prime? Here's two."

— Beta64 (@Beta64Official) June 13, 2017

These Nintendo announcements have me SO FREAKING HYPED
I feel like they've gotten literally EVERYTHING right this year @NintendoAmerica

— Jordan Sweeto (@JordanSweeto) June 13, 2017

Nintendo dropped the mic with Prime 4, Reggie came, picked it back up, and dropped it again

— Ben (@ItionoBen) June 13, 2017

Nintendo just killing E3 pic.twitter.com/gbnLyjsf6i

— Nick Landis (@Lanipator) June 13, 2017

Nintendo just took E3…sorry fellas.

— TheREALDrtre81 (@Drtre81) June 13, 2017

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Technology stocks saw follow through to the downside to start the week as AAPL received a noteworthy downgrade to kick things off. CNBC notes healthy rotation out of tech into energy, and while that may be true, I’m not so sure oil has seen the lows of the year.

That said, energy names did find there way back onto Monday’s hybrid screen, with CRC, SN, & DO being the standouts:

The home construction stocks were also in play today, and $LEN is actionable right here, right now:

And, gold & silver found it’s way back on the screen with our old friend, $EXK, setting up for a move higher:

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Despite the Nasdaq being the weak link, there are still 100+ names on today’s daily hybrid screen. Today full hybrid screen inside Exodus can be found HERE.

What are you guys watching here?

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