With 3 Best Bets next week not complicating it with to much this week, Very good channels and a few great flags. I want to track the open of the futures on Sunday Night and just make sure there is nothing shocking the market into another short term slide as we saw this week. The slide was a perfect one as the wedge pattern play out fine and the 60 min oversold levels bounce the markets right back up. How can we not just wait for the next set up?
Sure look like the market is basically discounting everything and the buy the dip is fast and furious. If we want new highs lets great but watch the 1984 S&P level early next week. Not because it is a great year but it will break us back above the recent lower high.
Also watch the 60 Min if we break down another cross over would get me on board again in the VXX.
The stocks continue to set up clear.
Slight Bias to the upside early Monday if we take out 1984 on the SPX other then that lets watch that restaurant sector next week. MCD could also play a part in the whole sector when they release earning Tuesday before the open. So understand that this will effect other stocks ie. DRI, EAT, CAKE, ect