Here's what I'm going to watch for Monday and through next week. These are all long positions, but I will keep in mind that at any given sign of weakness I will walk away from them.
AAPL to $120; the gap created on Thursday's session was filled today, but price tested and stayed above the 20EMA.CBI had a strong day today. The past three session saw above average volume. Overhead resistance with the 20EMA, but keeping in mind that today's price behavior could have set up an Inverse Holy Grail.CSX had a big day today (also BNI and other RailRoads)CLR cleared it's 20EMA and seems to have turned resistance into support by closing above the middle apex of the "W" bottom. Over-head resistance being the 50EMA.
CF closed above the 20EMA. Looks like some resistance at $69 before it can take on the 50EMA.DRYS has had above average volume this week. Today closed above the 10EMA, looking at a target of $25 in the near term. FWLT If it can close above the 20EMA, otherwise it could turn into a short to fill the gap created by Thursday's activity.
MON might put up a fight to get above that 50 EMA.MOS looking to close above the 20EMA and play for that $52.50 resistance, otherwise an inverse holy grail type set-up.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.