SPY broker out of the sticky range between 409.30 and 414 on extremely strong VOLD, ADD, and TICK ratios. However, showing signs of weakness or likely profit taking this morning. I think as long as we can hold over 414 early on the strength will continue. If not, looking for support at 412.80 (yesterday BO area). Keep yours ears peel for decisions on the debt ceiling talks as a stalling of talks will likely send the market down.
For further confirmation of a trend day, watch for: ADD pinned near +\-2000 VVOLD ratio over +/- 3 TICK cumulating past 0 wicking to +/-900
MU - day 2 long continuation. Waiting for some type of retest of a key level, 65.30 - 24.70. Chips are extremely strong right now and MU broke out of a 52 week range.
GOOS - 2023 Revenue up 31.4% Provides Guidance for increased store growth. What's most important is gapping out of the yearly range from 21.00 with room to 24.77. Although the ATR Is 0.7, in a strong market, could see 2.0 of range after gapping 2.2 ATRs in the PM.
Support 21.00 Resistance 24.77 Inflection 21.80
LAZR - over 6.80 break of 9/10 technical range break. No known news today but received some price upgrades a few days ago and tech stocks are strong as diamonds right now.
SE - day 2 short continuation was wrong PD so we flipped long. However, SE was a lagger yesterday after the morning rally. Still in play for a long today if the market strength continues and SE trades above 73.50.
HD - great entry for a continuation yesterday as we discussed. Looking for a pullback to add to swing position. Let me know what you guys are looking at in the comments!
BABA - looks like the strongest of the Chinese ADRS. Looking for a pullback from an Opening range break.
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