EvanMedeiros

EvanMedeiros

coming into today I would expect price to ping pong about this 8 point range from 429 to 436 as we make lower lows against this 429 short term floor. Until a level breaks with confirmation continue to buy low & sell high.

EvanMedeiros

1st target on breakout is 437

EvanMedeiros

$AMZN another wedge shaping up here near the top end of it's recent action. The breakout level at 270 was tested this week and it did hold and offered a 7 point bounce. Much like a lot of these other stocks we could see the early makings of a 10 point range between 270 and 280 before we get any real resolve. The longer it can base up here and not lose 270 the...

EvanMedeiros

$FB downside with facebook this week is that it gave back the entire gap from the 10th but on the plus side it did seem to rally off the low 23s creating a nice double bottom on the daily and a possible inverted head and shoulders on this timeframe. You really want to see this stock hold the lows from Friday and begin to make its way back up to the upper 24s. You...

EvanMedeiros

$NFLX one of my favorite patterns to trade are when stocks breach through a support or resistance level (in this case a prior swing low) and rally quickly back through it. Netflix sets up a nice long shooting against 210 to the downside or 206 if you want to give it a little more wiggle room. 220-225 level is packed with resistance now but do note the pattern of...

EvanMedeiros

$GOOG similar to the indices Google is in early forms of a wedge and probably a range that is going to take more time to fill out. It's one of the stronger of the nasdaq leaders and it remains a solid 25 points off the lows from last week. This name should be the first to firm up and get ready to move higher if the markets continue to be constructive. I believe...

EvanMedeiros

$AAPL so Apple remains in a downtrend making lower highs and lower lows. Clearly a bearish pattern and it did under perform the markets and end the week on the lows. Larger support doesn't come in until 420ish but until then the bulls need to see some type of base begin taking shape instead of this slow bleed down trend. It's possible Apple can begin carving out...

EvanMedeiros

$SPY the markets continued this week carving out a range in between last weeks candle and ended with an inside week. You can see here on the 30 min chart we are making lower highs and higher lows which makes sense within the larger context of the inside weekly candle. A lot of people have opinions as to whether we are going to shoot back up and return to highs...

EvanMedeiros

$AAPL price bouncing around this sloppy descending channel making lower highs and lower lows. If market continues its upward march we should see a retest to the top of the channel at about 440. Until something breaks this price pattern this is how I am viewing the recent action. Bearish until a more constructive sideways base gets put in or the previous high at...

EvanMedeiros

for downside needs to hold 440 now

EvanMedeiros

break above ignites a possible retest of highs

EvanMedeiros

$AAPL If you look back at most of my 30 minute apple charts you'll see 448 level marked as a level of interest. In my last chart I mentioned above 448 gets me bullish otherwise it's just a tough long. We saw that level flex its muscle again today as it got rejected back down into the 430s. Needs time, needs work, needs to get above 448 to break that intermediate...

EvanMedeiros

1st target 444.6 then 443. needs to get above 447.6 to invalidate

EvanMedeiros

$AAPL its like apple is in a contest for the sloppiest chart in the market. and i think its winning. The overall placement and nature of this price action has it real hard to decipher whos in control here. Just when it turns uber bullish the bears manage to reverse it and when it's on the verge of collapse bulls come rushing in. Don't get me wrong I love the...

EvanMedeiros

$SPY everyone loves a nice V shaped bottom. The market staged an impressive 2 day bounce off the lows ending the week with a perfect hammer on High volume (weekly chart). If you were on the sidelines for this move and didn't catch any of it you need to be real careful jumping in here at almost 165, 5 pts off the lows. I believe if we gap up on Monday it would be...

EvanMedeiros

$AMZN is a pretty big deal here. It's spent this entire year of 2013 in a range between 250 and 280 and it's now making another run at the highs. it looks good so far but the real test will come next week if it can manage to break above fridays highs into the 280s. A clean break and close above 280 could set up a nice sustained upside breakout for days/weeks to come.

EvanMedeiros

$FB oh facebook. It's just so comfortable trending lower. I can't remember what uptrends look like on this thing. Here we are again, a thrust off the lows as price just floats in the middle of a range. Per usual we need price to put in a higher low to trade against which hasn't happened in weeks. Until then shorts are in control and you can continue to short bounces.

EvanMedeiros

$NFLX not as strong as most of the other high beta this week but I think its hanging in just fine. It made a higher low above 210 and it could be morphing into some sort of W pattern. I think 214 is an important level to shoot against on the long side , below there and i become neutral to bearish. Bottom line I would rather be long then short at this price and timeframe.