The market slopped around yesterday as some options expired. All the indices were lower with the exception of the Dow which was kept afloat by the action in $AXP, which at one point was up almost 7%.
There are still some great setups out there, but the market is getting to the point (near term anyway)) where all charts look like Picassos. In the past, for what ever reason, they sell off when they start looking this perfect. Maybe we just go sideways for a while without a substantive correction. That does happen.
Anyway here are some setups that look good.
$ANAC My subscribers recently got long this one at 17.45. Still looks higher through Fridays high which is yet another breakout level.
$LZB Put your feet up and short this one if breaks the 50day moving average.
$SPLK could be a $100 number,watch for a move over Thursday’s high with volume. Subscribers got long on 12/15 qt 68.50
$REGN – After a massive high volume downtrend line breakout on Tuesday,(subscribers got long the day before), it now finds itself in a bullish pennant pattern. This one goes higher.
Have a great weekend. Remember the market is closed on Monday.
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