The SMH, XLF which have been leading this rally both have made new all time highs, are above the bb on the daily, well extended from the 8 day ma, and closed below their opens. With the spx right near our target 2206 and also above the bb I expect sideways actions today.
AAPL made new ATH and is very extended from the 8 day at 275.30. Yesterdays high was 280.70 with the low at 276.98 and prior high on Friday 275.3 with the 8 day at 271. So i expect consolidation here. So nothing stands out.
FB been heavy and closed right into resistance at the 21 and 8 day. 199.12 was the high. This might be a short today.
NFLX is gapping up 3.80 with strong numbers so has room to the upside
AMZN is up and above the 8 and 21 day and still below the 200 day. I think this counter trend rally can continue 70 the 1789-90 area.
TWTR – caught a bid. Has been in penalty box for terrible earnings and needs to hold 30.41 and a move above 31.36 would take it to 32.39 and possibly into the gap.
GOOGL – very constructive and made a new ath 1344 is the 8 day which can be an entry in a pullback.
BABA- closed poorly below 206.19 has room on downside to 202.70 area for am entry.
MSFT – ob on RSI and above the band on daily failure on a test of 155.9 could lead to some profit taking.
NVDA – been choppy near the band high. Use 228.98 as breakout or 221.82 as short term failure
AMD – short term double top and has been on a tear. WOULD NOT BUY IT HERE AS 8 DAY IS well below closer to 40.40.
MU has been going bonkers and is well extended from 8 day around 49. It closed poorly so a break of 52.69 there is A GAP at 52.32.
TSLA – massive move to 383.61 from 327 almost ion a straight line and now above BB i WOULD NOT BUY HERE NOR WOULD I SHORT.
BAC IS GETTING TIRED. gs gave back its day on an upgrade.
BA – A TEST OF 319.55 THAT HOLDS COULD BE ABUY AND TAKING BACK 324- 326 IS AN ADD
FOCUS: POSSIBLE SHORT FB INTO MA, and long ba
BalsamTrades 