Waiting For The Fade
Besides a few chases suggested:
LULU 401.66 support to 410.70 which overshot to 415.34
SNAP > 9.33 as long as 9.17 holds
SCHW > 52.59 post EPS into 54.54
TRV > 164.80 run into 168 100D in sympathy to PGR last week...
(AFL is also moving higher - it's already a TREND long with AJG so sector looks good.)
Maybe BB on "AI Cyber-security" assistance headline that triggers shorts to cover > 3.71, but otherwise, I'm not seeing anything NEW I like for continuation.From Swing Perspective:
As expected, the NatGas pullback delivered.
And now awaiting more US Govt Intervention to tap down the risk premium in oil built up on Israeli War as warned.
Swing longs in WSM, NKE continue higher ahead of retail sales and DIS activist involvement is my bet for DIS bottom fishing play.
And otherwise, just waiting for digestion in gold/silver while NYFANG hits resistance as my Growth-to-Value ration looks ready for tech to retreat.But until then...
AAPL filling then fading 178.14 daily gap fill is still my bet along with spy 437, SPX 4380, QQQ 370 - but so far today selling hasn't picked up, VIX expiry Wed means more likely it stays compressed, and breadth continues to move sideways after a long protracted pullback.Bitcoin spiked on a fake Blackrock headline but until it sells off, volatility is not likely to enter with gusto.
Still I don't see a solid reason to buy this Monday future's rally on potential peace in Middle East. Bulls rally on War or Peace. We need a bit more narrative than that. And Fed-head-speak last week and this on "Fed Pause" narrative is also not enough. We need DXY falling below 105.77 and my USD/10Y ration falling below 300. Not there yet, and as I posted in #Intermarket-tells, I see no capitulation low yet.
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