Mar 14 Prep

The markets’ sideways consolidation indicates that another push higher is likely, which could come as early as tomorrow bringing the S&P closer to the 1,570-1,575 zone.

We are staying with the trend and will favor momentum long opportunities, until the market signals otherwise.

LONG Setups:

  • ARUN – continues the narrow consolidation in a bull flag and around 26, expecting a range expansion move that will take it to new highs
  • SRPT – daily chart resembles a long, flat cup and handle formation, expecting a bounce over 32 and toward 35
  • FIO – attempting to break over the downward trendline on daily, expecting a bounce toward 18 and 50dma
  • NKTR – coming out of a high bull flag, expecting a move toward 10.50 and beyond
  • SSYS – nice bounce off 20dma today, expecting continuation toward 50dma
  • IMAX – trying to move above sideways consolidation, expecting continuation through 26
  • WHR – continuing to form a high bull flag, but if it can’t move through 120 soon, this pattern will fail
  • URI – bounce off 20dma, expecting continuation through 55 and toward new highs
  • BG – continues to consolidate around 50 dma, expecting a bounce into the gap
  • AUXL – continues to consolidate around 50dma, expecting a bounce toward 19
  • CMG – constructive pullback to support at 320 and 20dma, expecting a bounce
  • NUAN – forming a small bullish flag above 20dma, expecting a move higher toward 20
  • THS – trying to come out of a long flat bull flag, unless it can move soon this pattern is prone to failure

SHORT Setups:

  • CF – bearish reversal on higher volume with close under 200dma, expecting downside continuation
  • RVBD – rejected at 20dma and resistance at 16, expecting a retest of lows around 14.80
  • UTHR – bearish reversal on higher volume within an overbought short setup, expecting downside to 60 and 20dma
  • CAT – continuing to form a bearish consolidation pattern, expecting downside to 200dma
  • PSX – overbought setup combined with two bearish reversals on higher volume in the last several sessions, expecting downside to 60 and 50dma
  • DDS – rejected again at the beginning of the gap, expecting return to retest lows if it cannot hold 80
  • TV – coming out of a bearish consolidation pattern, expecting downside move to 26 and lower
  • MSG – continuing to form a stalling overbought pattern with likely downside to 52.50
  • OC – bearish consolidation pattern, if it cannot hold 39.50 likely downside to 38
  • WD – bearish consolidation pattern, expecting downside to 18

Not long ago a Wall-Street-Hedge-Fund-Finance-MBA guy, now a momentum trader. Father, husband, mediocre soccer player, numbers geek with a lousy sense of humor. Obsessed with risk management, tries hard to "make money every day"

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Posted in Long Setups, Short Setups

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