same trend different day

Not a whole lot to say this time around in many of these charts mostly because they are in the middle of their ranges. Or possibly because I was busy outside of trading this past week and I am just getting back into the swing of things today. Anyway here is what I am looking at:

$SPY same trend different day. Not too much to narrate here. Fairly steep intraday pullback off new morning highs today. consolidating above the 21EMA on the 30 minute. A break above or below this mini afternoon range should get a retest of todays highs or a retest of the top of last weeks range.

$AAPL signs of strength after briefly plummeting to sub 420 prices last week. This morning created a very bullish fast and furious higher low and higher high on the 30 minute chart. A measured move would complete right around the 450 breakdown level we dropped out of last week. Tomorrow should make for an interesting day as CEO Tim Cook will be talking about the companies tax strategies. Supports come in at 440, 430, and 420, Each stronger then the previous. I am flat overnight but looking for buy setups into weakness tomorrow.

$GOOG pretty sloppy digestive chart. Levels of interest are loosely defined here but essentially traders should be watching the 900 and 920 levels. Both of those should be defended and could be played for a bounce/fade or breakout.

$NFLX price is tightening within this triangle. My bias is an upside breakout but I hold no position. The more we coil the bigger the spring so watch this one tomorrow for a possible breakout and trend.

$FB the weakness here sort of surprises me. It’s entirely bearish on this time frame consistently making lower lows and lower highs but I do expect for some sort of base and attempted reversal to take place around these levels given the position of price on higher timeframes. Again no position here, but I will be watching for signs of a reversal otherwise I’m just not interested.

$AMZN another sloppy digestive chart. 266-270 seems to be the intermediate levels to watch. No real opinion on this chart other than wait for something to change the character of this chart. Or. Flip a coin.

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Evan Medeiros

Evan is the founder of the Trade Risk. With 25 years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

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