After 3 days of deteriorating action the market, late day bounce on 20 MA , and bulls came out and saved the Market.
Market is oversold enough to support a bounce here. Wild card will be job number on Friday before market opens. Keep in mind indices is not showing the underlying weakness in many individual names and sectors.Narrow leadership stocks and sectors as market breadth( Number of advancing stocks vs. number of declining stocks) continues to deteriorate. SPY support now 235.74 and resistance at 237.24.Need to hold 20 MA and build over it for continued strength.
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CLVS Getting rejected on 20 MA. Should pop if it can get over 20 MA next time.[/caption][caption id="attachment_43390" align="alignleft" width="800"]
CNCE High and tight flag. Watching over 17.03 for a pop.[/caption][caption id="attachment_43400" align="alignleft" width="800"]
OLED Still on flag formation. Keeping an eye.[/caption][caption id="attachment_43398" align="alignleft" width="800"]
DVAX Watching over 6 for a pop.[/caption][caption id="attachment_43392" align="alignleft" width="800"]
LABU Bio ETF still the strongest sector. If market holds, this could break out.[/caption][caption id="attachment_43393" align="alignleft" width="800"]
LJPC Flag breakout watch, ideally on small red to green move at open.[/caption][caption id="attachment_43394" align="alignleft" width="800"]
TELL Oil name, oversold dead cat bounce over 10.[/caption][caption id="attachment_43395" align="alignleft" width="800"]
TSLA Needs to hold this support here.[/caption][caption id="attachment_43396" align="alignleft" width="800"]
TTD Flagging again. Watching for another breakout.[/caption][caption id="attachment_43397" align="alignleft" width="800"]
ZSAN Spec. play. Holding support.Could pop back over 2.50.[/caption]
