EvanMedeiros

EvanMedeiros

$AAPL sloppy and overlapping, apple continues to grind higher within this channel. It's definitely no clean trend with so much overlapping price action but it does continue to make higher lows and highs so until it doesn't ill remain cautiously optimistic. Remember apple has earnings next week so its very possible we see this careless slow motion grind back and...

EvanMedeiros

important band of support here at 915. expect the bulls to step in for at least a mini bounce, if breached setups up for another leg lower.

EvanMedeiros

$AAPL certainly not picture perfect but watch this possible cup and handle-ish pattern off the open today. above yesterdays highs could get us a nice measured move into the mid 430s. For this pattern to hold up we wouldn't want to see price trade below 426 give or take otherwise we're just in a sloppier wider range.

EvanMedeiros

bulls need to defend 414 to keep this looking A+ short term

EvanMedeiros

$NFLX beautiful multiday flag building, watch for some resolution to this pattern , could ignite a nice second leg higher. All depends on markets temperature today.

EvanMedeiros

for the momentum traders there might not be much to do in apple today to the long side until mondays highs at 412 are taken out but for swing traders watching the action today for signs of healthy consolidation and a constructive pullback will be what you want to see to get involved or stay long. 23 points to the upside in two days was a good move and a tough one...

EvanMedeiros

it could be a long stay

EvanMedeiros

$AAPL just an ugly bearish wedge continuing to develop this week as the S&P puts together a 3%+ rally. these pivot highs all become important levels that the bulls really need to set their eyes on taking out. Chart remains oversold on most timeframes but within the context of a very bearish complacent downtrend . All eyes on previous 385 pivot low which seems all...

EvanMedeiros

expect another leg down if 398 breaks

EvanMedeiros

$NFLX tried to hang in there today despite the downgrade it got overnight. Couldn't quite close the gap but it did break below yesterdays lows and reclaim them early in the day. Looks to be in motion to fill the gap tomorrow so long as the market can hold in there, 218-220 will be the real test for the bulls. Also a potential double bottom reversal setup on the daily.

EvanMedeiros

trying to form something constructive around this big round 400 level. The bulls need to break above 406-408 asap and fill that gap as price has a tendency to trade in the direction of open gaps. Wednesdays action should give more clues to the direction of price in the short term. Ultimately we'll need to see the start of a new trend emerge or a longer more...

EvanMedeiros

$AMZN i always think of Amazon as the rogue stock that always seems to elude me while its making its move. Bulls shouldn't forget about this stock as it bases out nicely just below all time highs. Very healthy action still holding the recent breakout from 270 and you really want to see that hold otherwise amazon is just going to need more time before really...

EvanMedeiros

$FB finally showing some relative strength as this stock finished the week in the green. A little sloppy at the upper portion of this range but you can see it fought strong to hold on nearly green in fridays session. 24.70 is the level to watch on the upside and then a close above 25 should set up a nice measured move higher. There's a sloppyish inverted head and...

EvanMedeiros

$NFLX sold off in about as straight of a line as you can get. That was a dangerous gap down on thursday given the amount of immediate volume put in between 232-236. Once it gapped below that support it left alot of bulls underwater and once 226 broke there was no holding it up. It entered the gap and sank 10 points to fill it right on the money and then...

EvanMedeiros

$GOOG not even the leaders were immune to this weeks sell off. We see Google catching some support at the lower end of this developing channel around 875-880. This has been and still is one of the leaders this year so it can offer some nice clues as to how nasty this summer trading can get if it really starts breaking down. It's not as stretched to the downside as...

EvanMedeiros

$AAPL I dropped a chart wednesday after the bell pointing out Apple was in trouble short term after breaching that 430 level. We did see a nice 9 dollar bounce off the overly watched 420 level and when everyone is watching a certain level to hold its rare that it will. Similar to my note on the SPY, we are stretched here to the downside. Does not mean we cannot...

EvanMedeiros

$SPY hindsight analysis makes this trading business look so easy. A waterfall lower caused by the fed, raising rates, the USD, call it what you want, it doesn't matter. The facts are this. This week created a lot of technical damage as the S&P was down nearly 5% in 2ish days (dont forget .83 cents ex-dividend so the downside LOOKS worse then reality). The elastic...

EvanMedeiros

seems a tag of 418-420 is all but in the bag at this point. If we slam down into it tomorrow i wouldn't be surprised if it offered a bounce but its really going to need to reclaim 430 before the bulls can get too excited over any possible retracement.