The Bulls are Back
So the bulls held the line on Friday and brought Spy to 445 plus as I predicted which was the top bollinger band on the daily. Looking at Spy now I think the Bulls are in control and we start to grind higher. We may have some dip days but overall I think we will be grinding higher. Earnings season is also back. Started last week with bank earnings. This week there are some big names reporting. I’ll post earnings for the week and a spy weekly chart below. Spy held exactly where it needed to. Spy closed at 445.87 on Friday.
Inside day review from Friday…
I totally meant to log the trades for those 4 inside trade ideas I posted in the last blog. I failed lol but those 4 ideas all panned out if you traded them. I traded V on Friday. V moved from a low of 226.76 to a high of day of 231.09.
Swing Reviews
Isrg, nvda and Ba I still like from my last blog. Also liking Afrm, Crm and Dash from the prior blog still as well.
Some More Possible Swings
Ilmn - Sitting very tight at the mid bollinger band on the daily. Could reject here but if it doesn’t and continues into the cloud I think it could see the 55 Ema pretty quick which sits at 438.03. Weekly chart has also just bounced at the lower bollinger band. Also inside day on the daily so a break of either lows or highs of the previous day should set the tone for it. Ilmn closed at 409.93 on Friday.
LuLu - Also at mid band on the daily. Would have preferred to catch the move from the bottom band to mid band but I still like it because it is also bouncing off mid band on the weekly as well so a bounce here makes sense. Also all moving averages that I watch are under it so if it can get moving my target price is 437.32 which is its 52 week high. LuLu closed at 403.51 on Friday.
Amat - Very similar chart to LuLu on the daily. On the weekly it has been consolidating. If it continues, it is heading back to top band on the weekly which is 145.03 which puts it right by its highs at 146. A break through that should give it a nice breakout. I’m targeting just shy of highs at that 145.03 and then we’ll see if it can breakout. Amat closed at 131.59 on Friday.
That’s it for now. More on Thursday! Take care and Happy Trading!