5/26 - midday scan

• market is fully undecided...
• bulls can't seem to get it easy...
• market still feels week...market wants to say that we put a bottom in for now and will reverse higher but many investors are scared...they know that this is most likely just a short term bounce if anything and aren't ready to commit til they see more evidence
• i don't see many great setups...just 2 that i like..one lone, one short
• airlines one of the standouts today...
• indexes can break above 30min resistance...stuck in a range...
• FXE stuck at support, UUP stuck at resistance
• with light vol this week, we might just get a sideways move today and tomorrow til atleast tuesday...
• definitely seems more like a time to stock pick than anything else...some stocks making good moves today...
• pharma getting hit hard...
• semis are the strongest charts...

bottom line:

• market unstable...ok to buy short or long..but needs to be ideal setups...can't find them, then best not to buy anything...tomorrow will reveal more about where the market is going
• but still feels more likely we end higher by end of the week than lower from here