https://screencast-o-matic.com/watch/criDFvViYWOMore weakness in the market with IWM testing the bottom of the range, QQQ holding onto the 9ema and SPY below it's 9ema. Market breadth continues to be very poor, with RSP and IWM lagging. Even more telling is the amount of weak sectors. There are a number of good "runner short" setups including ROKU, CRWD, SHOP, UPS, INTU, NOW, ZS, ROKU and NVDA. It's a good time to remain cautious and wait for the next signals. Many stocks, especially re-opens, are pulling back to key support levels. These areas might provide support. Next week also starts off big tech earnings. If there is a silver lining, it's that the market is extended and this could be a natural pullback. Also, while price action is weak, many of the banks and airlines that reported actually posted good earnings numbers. If the market rebounds XLF is a strong long play. Biotech is showing relative strength today. China is weak on news that the government is cracking down on stocks listed on US exchanges. Stocks in play include DIS, AMZN, NVDA, DAL, RL, UA, DIDI, BABA, BNTX, MRNA, ZM, GME, FAS. Re-open stocks: UAL, LUV, SAVE, JBLU, WYNN, PENN, LVS, MGM, SHAK, EAT, CAKE, CMG, HLT, MAR, CGC, RCL, CCL, BBBY, SHAK, KSS, M, WOR, X, CLF, FCX, SIG, CMG, DKS, LULUBig tech: FB, AMZN, GOOGL, AAPL, TSLA, DIS, TWTR, MSFT, AMD, CRMETF LIST: SPY, IWM, QQQ, GLD, GDX, TLT, UVXY, EWZ, FXI, RSX, USO, XLE, XLF, SMH, IGV, XCC, XHB, XAR, MJ, XLV, XBI, IBB, CLOU, SKYYCurrent positions: Holding TSLA, BLI, BIB.https://screencast-o-matic.com/watch/criDFvViYWO
Market Speculator Part-Time | Swing Trade Report
Paul
Singh
•
July 16, 2021

