Tuesday, July 19, 2011

7/19 - bullish (buy stop)

- financials reported...BAC + GS dissapoint, WFC surprises up
- AAPL to report after the bell
- debt ceiling compromise is near as "gang of 6" gives a proposal, said to easily pass - gave strong boost intraday for 2nd leg up
- TECH leads
- IBM and KO earnings were good giving a boost to morning futures
- best day in dow and qqq in months
- no talk of europe debt

Bullish
- 30min charts reversed to the upside
- NYMO ready to turn over as SS is oversold and we are near oversold as well
- 1st strong day that held up in weeks
- big candle that engulfs are small prior action making for a great signal that we can be starting a new leg up
- if go up, we got lots of room to move up before any resistance

Bearish
- as today we flipped asap just because of news, we can get more bad news that switches everything up all over again

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