Stairs up and elevator down type of ugly market action after SPY broke short term moving average support. Market now getting stretched to over sold territory outside of bollinger band. SPY next support 310/302 area. Expecting a bounce soon. Ideally on another gap down or on red to green type move.
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Here is the watch list and game plan:
I will be mostly watching ETF's like TQQQ LABU, SSO and some highly liquid tech names for bounce play. They tend to bounce cleaner than individual stocks on a weak market.[caption id="attachment_58512" align="alignnone" width="800"]
NVDA 250 next support area. Reversal watch in a panic move down.[/caption][caption id="attachment_58511" align="alignnone" width="800"]
LK Holding up well. Watching 39 spot if market bounces.[/caption][caption id="attachment_58510" align="alignnone" width="800"]
GSX Holding up well. Watching 46 spot if market bounces.[/caption][caption id="attachment_58513" align="alignnone" width="800"]
ONEM Flag formation. Keeping an eye.[/caption][caption id="attachment_58514" align="alignnone" width="800"]
TEVA Holding up well. 13.76 is a spot.[/caption][caption id="attachment_58509" align="alignnone" width="800"]
BNTX 34 range breakout. Thin stock.[/caption]Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman
