It looks like Santa’s sleigh was slingshot today. I wasn’t allowed in because the gap up was vicious, but some stocks still look like drek and others look terrific. I will focus here on some charts that look weak in the face of today’s rally. These names may play catch up or they may just want lower. I will try and focus on some bullish names tomorrow.
$CF broke down from a head and shoulders pattern and is now breaking a bear flag on bigger volume.
$AMZN has broken the neckline of its head and shoulders pattern and is bear flagging. This should be the company’s time to shine, but something isn’t right. Maybe it’s just warming up, but the chart says lower.
$NFLX is in a hell of its own. More downgrades and lower prices look possible. Maybe 50.
$MAKO didn’t get any real love today. Still struggling at the 200 day moving average.
$SODA didn’t catch a buzz today and the volume on the downside picked up.
******NOTE…I looked at many charts last night that looked like roll over candidates and today they all look better. The names above didn’t do much today, but that doesn’t mean they cant turn it around, so watch the volume and the support levels on all of them. Put them on your radar.
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