{+++}
The S&P is now range bound in a tight little box. Considering the sate of the world things could be much worse. The “box” represents roughly a 70 handle range on the S&P.
The yellow line is the 200 day moving average and that needs to be eclipsed with some actual volume. Although the market was down today, I believe it was down on the lowest volume of the the year. Buying opportunity or shorting opportunity? Not so sure, so we have little of both. I think we will get some closure this week.
I will leave the P&L as is tonight, as the patterns listed look good. I took PANL off because it moved to far from the trigger. I didn’t trigger ISRG because it gapped up through the trigger, I tried a day trade on it, but lost a little later on in the day. In a better tape I like the name and I will probably get long through that 443 level, maybe by tomorrow. I also covered another 1/3 OPEN for a couple of bucks today so 1/3 remains. DLB also triggered short today. It broke trend line support today and the sell side volume was very good.
Tomorrow I would keep my eye on DPZ and SNA as they both showed good relative strength today.
Crude (below) acted didn’t give back much today even with a strong dollar.
The financials held trend line support today and the volume was light, but they could be close to breaking lower.
Good luck tomorrow and I will see you on the chat room in the morning.