everyone loves a nice V bottom

$SPY everyone loves a nice V shaped bottom. The market staged an impressive  2 day bounce off the lows ending the week with a perfect hammer on High volume (weekly chart). If you were on the sidelines for this move and didn’t catch any of it you need to be real careful jumping in here at almost 165, 5 pts off the lows. I believe if we gap up on Monday it would be a better sell rather then buy or add to positions. I am very constructive on this bounce but I think some rest/retest of Fridays gap would be very constructive. I don’t think the market will make things too predictable especially in its summer trading so I think even a quick flush down towards those lows only to rip back higher might be in the cards. I am in the camp that these lows give or take a SPY point or two will hold in there. but we shall see. Levels on chart, I think continued two way action is in the cards but bulls are fighting for the ball.

https://www.tradingview.com/x/BMPSTqju/

$AAPL its like apple is in a contest for the sloppiest chart in the market. and i think its winning. The overall placement and nature of this price action has it real hard to decipher whos in control here. Just when it turns uber bullish the bears manage to reverse it and when it’s on the verge of collapse bulls come rushing in. Don’t get me wrong I love the intraday volatility but as far as figuring out the larger move at hand this stock keeps juking and jiving. I’m not going to over draw all these micro levels so I’ll keep things simple. I still think 448 is a pretty key level for it, so to me the stock becomes BULLISH above there. Else it just has way too much immediate supply to fight through to be a clean long. I’ve been bullishly optimistic throughout this price area and gun to head I remain that way, but increasingly neutral.

https://www.tradingview.com/x/HedWy97X/

$GOOG always so easy to read a chart after a move has happened. This looks great for higher, 892-900 seems like the next larger resistance level up on deck to be tagged. If we open down next week I think dips will be very buyable.  Thats all i got.

https://www.tradingview.com/x/FAUaqpg0/

$NFLX not as strong as most of the other high beta this week but I think its hanging in just fine. It made a higher low above 210 and it could be morphing into some sort of W pattern. I think 214 is an important level to shoot against on the long side , below there and i become neutral to bearish. Bottom line I would rather be long then short at this price and timeframe.

https://www.tradingview.com/x/JykxrRE2/

$FB oh facebook. It’s just so comfortable trending lower. I can’t remember what uptrends look like on this thing. Here we are again, a thrust off the lows as price just floats in the middle of a range. Per usual we need price to put in a higher low to trade against which hasn’t happened in weeks. Until then shorts are in control and you can continue to short bounces.

https://www.tradingview.com/x/pvZHXxIw/

$AMZN is a pretty big deal here. It’s spent this entire year of 2013 in a range between 250 and 280 and it’s now making another run at the highs. it looks good so far but the real test will come next week if it can manage to break above fridays highs into the 280s. A clean break and close above 280 could set up a nice sustained upside breakout for days/weeks to come.

https://www.tradingview.com/x/q3JqbXAO/