Hopefully today, we’ll get a better feel for what the true intentions are for this market. We’ve been range-bound for the better part of the month – so a breakout or breakdown would be a welcome development. This market, of late, has been weeding me out of a lot of positions. Currently I am still holding on to a small position in PETS and another position in OSG.
Overnight the Asian markets ranged from 0.2% down to 1.4% down on the Nikkei. European markets are currently trading in the green by about a 0.5%. On the economic front we got the Jobless Claims coming out at 8:30am EST as well as an International Trade report at the same time.
Here are Today’s Trade Setups…
Bullish Candle Setups: PRE, AMT, JNY, ANF, MBT, OII, MTW, FLS, HAL, DK
Bearish Candle Setups: DTG, DIOD, NRGY
Stocks Ready to Bounce: KONG, AMT, HMY, SNPS, IAG, BVN, RIG, TTWO, ATW, DUF, TNDM, LIHR
Stocks Ready to Pullback: BIG, ZGEN, EVF
Breakout Stocks: OFDL, AXE, SCO, DTN
Breakdown Stocks: USO, GPS, FDP, UCO, HGT, PTRY, DBO