The SPY came down to test the level below 199 as the SP500 dipped down to test the 1988 level. The chart of the SPY shows it is forming a bull flag with a potential price target in the range of 207-210. If the SP500 holds above 1979, and the near term price target for the SPY could be the Fib 127% extension near 204. If the SP500 fails to hold support, then the SPY could move down to the level near 197.
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PCYC is coiling below the breakout baseline after a huge move on its initial break above the 125.80 level. Watch for a move above the engulfing candle on the next breakout.
VJET still working on completing the cup & handle pattern.
TWTR came down and filled the price gap after it has tagged the 80% of the cup & handle measured move with a shooting star candle. Monitor for a continuation move toward the 100% level near 55.20.
DDD needs to hold the trend line support and make a higher high in order to remain in the game to fill the gap.
HZNP broke into the price gap zone and in the process of filling the gap. It could face some potential resistance as it reached the 12 level.
BBRY did a shake & bake and could be on the move once again toward the previous high.
STT broke above the price gap level and moving toward previous high near 76.
SNDK made an attempt to break above the baseline near the 100 level. Currently it is coil underneath the baseline. Continue to monitor for potential breakout to fill the price gap up at the 106+ level.
AMD failed to break above the engulfing candle. Looking for it to find potential support near the 3.83.
SBUX failed to break above 78.40 instead it has broken down and appears to be headed toward potential support level near 74.
WFM broke below the coil, will send it back to the sideline until a setup appear.
LLTC recent pull back has voided the cup & handle pattern and will be sent back to the sideline until a setup appear.
GOGO broke the inverted head & shoulder with a huge gapping candle as it announced the deal with VZ. Look for possible pull back to retest the breakout baseline before it makes a move toward the measured move level near 22.
Market is still in a pull back mode. Be defensive.
