The market is weak and waiting for the Greece referendum on Friday and the FOMC announcement tomorrow. Two down days and an island top coming off the 200-day zone hard is strong rejection of the highs in the Q's and the 200-day in the other indexes. With all this looming over the market it is hard to believe it could make any progress up, but never assume. The market was extended and bearish news brought it down. Let the price action guide your trading.
For tomorrow the pivots are negative so watch for short OR reversals at the FTP and R1. If the market rallies significantly, yesterday's high, the 10-day moving averages and then Monday's low will all be formidable resistance.
The markets are all sitting at their 20-day moving averages after 2 days down into support and positively stacked and sloped 10, 20, 50 MA's so I'd put the odds at 50/50 that a consolidation day holds at or near today's lows.
Longs
DPZ
CTXS
NIHD
NFLX
Condition1 and 2
ANF
QCOR
COG
TSCO
Must clear R1
XRT
SMH
XLE
YUM
LVS
JWN
GOOG
CERN
Shorts-none should clear R1
CTRP
WYNN
SYK
AMZN
SINA
GMCR
APA
