back n forth 4-15-19

The ES tested near last weeks and the year high of 2914.75 but with the poor reaction to GS results, energy weakness brought in selling. The ES filled the open gap and prior high of 2900 to bounce back in the afternoon. The NQ dropped to 7598.75 with weakness off the bat in semis and FANG. By the end of the day FANG held up well and closed well. These stocks are the key to next leg in my view. They are off their all time highs and have room to test above. If they get going the NQ could see higher targets being met. IWM broke the 157 area, but ultimate closed above.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s