$SPY continued its bounce higher for the second week in a row finishing the week with a +1.68% gain and finishing the month lower in total down about -5.0%.
With fibonacci levels overlayed on the above SPY chart we can see we are rallying into the 50% retracement at 194.32 from this most recent leg lower which started on 12/29/16.Read More
We’re only two weeks into 2016 and already it has been a brutal year for markets worldwide.
Why? This isn’t a question I ever try to answer, as a trader who focuses exclusively on price action, but we’re going to try today.
It’s been a tough 7 days of trading for bulls in 2016 but after today’s late day rally and successful hold of the prior two day lows, we may finally have a short term bottom to work against (not a claim that the bottom is in).
Here are 5 standout names that are holding near highs in actionable patterns despite the broad market carnage this year.
$ULTA a weekly close over 187 would be a strong breakout and trend continuation signal.Read More