C.O.I. For The Week of 6.3.19
SPX. Markets usually don't bottom on Friday's. And since the market finished the week at the lows, we expect another push lower on Monday before a bounce. All of the sentiment indicators we follow are at extreme negative levels. And a bounce is imminent. We will be buyers on Monday morning if there is a gap down, and are looking fora retest of the SPX 200sma to sell into. That is our plan for now, but will adjust if necessary.
AMD: A strong name in consolidation. We think this one rips when the market bounces. We will look to buy next week on market weakness, then sell for quick profits.
AMAT: A beautiful bounce candidate. It's consolidating above the 200sma, with divergence building. We will look to get long next week for a quick trade
AMZN: We are almost to the 200sma. We'll likely get there or close enough to it next week, for a bounce trade. We'll be buyers on any weakness then take quick profits.
JD: Has reached the 200sma. And divergence suggest it's ready to bounce. We'll be buyer next week for quick profit trade.
NFLX: The 200sma is now very close. We'll look to buy any weakness next week for a bounce. Call buying has been big on this one.
QCOM: Has been getting big call buying. It has a nice retrace to its 200sma. So if we get more weakness Monday, We'll be buyers for a quick bounce trade,
TWTR: Continues to consolidate at the .382 retrace. Call buying is large. Divergence is building. This is a prime bounce candidate. We'll be buyers next week for a quick profit trade.
XLNX: This one looks ready to bounce. If we get a push down for a 200sma touch next week, we're buyers for a bounce.