So, the MACRO issues have been pretty heavy on the market and off-course, the individual set-ups are just not working. We saw a huge drop early in the day, followed by a nice jump off the lows just to see the market ending in deep red territory. Until the market shows a clear sign of reversal, I prefer to be scalping few cents here and there. Preserving capital is another way to stay in this market. We have seen this before and we will keep seeing this again and again.
Hoping for a nice day tomorrow, here are some items that I am adding to my watch:
$ELNK - Break over 200MA should set this up.
$KRO - Nice looking set-up; Watch for break of the trend-line either way :-)
$MHGC - Bounced off of 20MA and closed nice; Watching over today's high.
$MILL - Watching over today's high as it clears a critical resistance area
$PLAB - Watching for continuation over today's high
$WAFD - Nice volume last couple of days; Watching if it clears out this resistance area
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