So much for healthy basing out action. Market plummeted hard! Many blaming this to algorithm driven sell on stocks and buying strong bonds. Regardless of the reason , price ultimately pays.
SPY back to middle of the range. if 270 breaks , there is a possibility we test the lows or lower. Small cap index IWM remains worrisome. It was a laggard during general market bounce and now almost back at the lows.
Unless there are some solid positive news about China trade war, market remains vulnerable.
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URI Breakdown watch if stays below 106.[/caption][caption id="attachment_52891" align="aligncenter" width="800"]
STAA Breakdown watch if stays below 35.[/caption][caption id="attachment_52892" align="aligncenter" width="800"]
RARX Biotech name holding up well. Breakout watch if market holds.[/caption][caption id="attachment_52893" align="aligncenter" width="800"]
LABU Biotech ETF, bear flag formation. Watching for a short if stays below 48.[/caption][caption id="attachment_52894" align="aligncenter" width="800"]
GOOS Basing out so far, Breakout watch if market holds.[/caption][caption id="attachment_52895" align="aligncenter" width="800"]
TWLO If the market turns strong, watching this 98 base breakout later.[/caption][caption id="attachment_52896" align="aligncenter" width="800"]
FB Bear flag formation. Needs to hold here else watching for a short on green to red type move.[/caption][caption id="attachment_52897" align="aligncenter" width="800"]
SQ Broke down another bear flag. If market stays weak , watching for continuation short on green to red type move.[/caption][caption id="attachment_52898" align="aligncenter" width="800"]
NVDA Needs to hold here else watching for a short on green to red type move.[/caption]
