Markets are looking like they'll open over a half a percent high helped by better than expected initial claims data. This creates a gap over 2 days of consolidation in resistance created by daily highs from May.
The two days of consolidation is reason to follow the gap, but because it is rather large and into resistance I'd be cautious about pull back. If it sells off, look for support at the daily highs of the last 3 days.
I'd only focus on shorts which either break the 5 min OR quickly along with a market OR breakdown or wait for the first 30 minutes to provide some guidance. if the market chops then OR highs in the weak stocks that do not clear the the highs of the last three days would be a my preference or breakdowns with OR break downs in the market.
You'll notice some Semiconductors on the long list (ALTR, XLNX, NVLS). If the SMH moves over its 50-day MA. This is were I'll go first to look for a way to play the move.
ON the other hand, if SMH gets weak, I've still got two semi's on the short list (CREE, LRCX).
~Long Focus~
BIIB
CRM
POT
~Other Long Charts of Interest~
UNH
AET
ILMN
AMZN
PLCM
NFLX
VHC
POT
CPO
RHT
HAL
TSLA
BEAV
CRM
BIIB
HAL
BIDU
ALTR
XLNX
VMW
NVLS
CELG
BWA
~Short Focus~
MTL
SMG
~Other Short Charts Of Interest~
WSM
CREE
LRCX
MHS
ESRX
