Another ugly trend down day for the market after SPY rejected our 50 MA resistance and broke 100 MA support.
Volatility is here to stay for the time being. As i wrote in last post."We might see another shake out at some point ", and here we are. SPY needs to get back over Tuesdays low, 258.60 area and stay there for bull case,otherwise 200 MA test more likely. Doubt we will the see those "V" shaped bounce we have been used to seeing.
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BA Setting up a bear flag here.[/caption][caption id="attachment_48331" align="alignleft" width="800"]
NFLX First tap 20 MA had bounce, Second tap to 20 MA might not hold.[/caption][caption id="attachment_48332" align="alignleft" width="800"]
OLED Must hold this 200 MA.[/caption][caption id="attachment_48333" align="alignleft" width="800"]
QNST Blog idea, defying the market. Keeping an eye.[/caption][caption id="attachment_48334" align="alignleft" width="800"]
SFLY Earning mover.Holding up really well. Keeping an eye.[/caption][caption id="attachment_48335" align="alignleft" width="800"]
SNAP Earning mover.Needs to build here.[/caption][caption id="attachment_48336" align="alignleft" width="800"]
SQ Closed below 50 MA support in a while .Needs to recapture 40 else might flush.[/caption][caption id="attachment_48338" align="alignleft" width="800"]
WYNN Setting up a bear flag here.[/caption][caption id="attachment_48337" align="alignleft" width="800"]
UVXY We have been using it for day trades. If this gets over the high might have more spike.Watching onn a red to green type move.[/caption]
