INDO- thinking we gap down here, either way, day 5 of gap move, think probabilities shifting, will be looking to short near opening range breakdown, 55.42 1st trigger, keeping stop at hods, ideally couple retests of vwap to scale in
OXY- these were great levels last night and the short paid today, confirmed opening range breakdown and unlimited liquidity, it didn’t touch that 65s level posted last night but 61s premarket confirmed as heavy , tomorrow i will be looking at the 56.50 area over and under for another short, I have no bias, if it wants to hold the trend, which is long, that’s fine, move on fast because opportunities are popping up every hour
AA- first red day, looking vs 87.83 for failed follow through tomorrow, hopefully don’t gap down too much i could see this testing below the 10day sub 80
MARPS- nuts after hours, 18.59 big level on the weekly then i have 20.80 thin and hard trader, ill be looking for names with more liquidity
BTU- ideally a push to 23s with target near 10day 19.50 area
X- watching vs 31.50-.70 for a short trade, not as much range as I would like vs other names/materials but keeping on radar
IMPP- ideally shove through this 8.35 area to squeeze out rest and then fails rest of day
MOS- ss vs 62.50, keep in mind these names are in favor so don’t fight, i just feel people are biased to one side right now and such a giant move for this name so far
USO- held extremely well today,. 84.26 area looking for resistance, if we want to reclaim that and hold, we may see above 90 by weeks end, don’t underestimate sector
QQQ- not even close to the momentum I want to be looking at tech or growth yet, keeps rejecting 10/20 declining mas, until we reclaim, i really don’t care about tech or growth
SPY- same story resistance vs declining mas, I don’t care where the bottom is, i care where the trend is, and it is not here
VXX- forming another flag and breaking up towards jan highs, until this settles and gets whacked, keeps me away from longside exposure linked with market
NEX- really nice follow through, ill be looking for a pullback below the 20 day ema , the dip below and build higher lows would be an opportunity for first entry
FB- below 200 weekly sma, no interest until reclaim and hold, declining short term moving averages have a lot of catching up to do
HUSA- ill be looking vs 12.50-13 resistance after a test or two, weekly resistance from 2017, another name i wouldn’t fight
NINE- walked that down post open and watched the trap at 2.50 , ill be watching 7.33, and then 9.81 for a potential short squeeze up, then going to be looking for lower highs to get short, don’t underestimate
Thank you, God bless
Thanks Josh