$SPX Nothing has really changed since last week. We remain below our broken trend line with increased selling volume. It currently feels like we are about to lose our 2120 support area. 2100 looks like it is right around the corner. The 20 day sma remains below the 50day sma and begins to act as resistance. We have lost our trend, and failed to put in a higher high. Things are not looking good for the overall markets. Capital protection is key in this market environment. Aggressive trading and new positions are not recommended. Focus on managing your current positions. Strong Sectors: Financial and Technology
$AEL - Still looking for that solid channel breakout over 18.25's $ACCO - Nice earning breakout and now pulling back to 11.00. Looking for 11.00 to hold and a move back towards 11.60's+ $AMD - Unable to hold up around 7.50's. Would like to see it hold above 7.00 and eventually move back towards that 7.50-8.00 $BOX - Lf it to hold 14.50 support. Break below 14.50's will ruin idea. $CC - Got caught on a fake break on Thursday but Friday gave that 17.00 breakout. Watching for continuation as we near IPO prices. $CENX - Another fake break that caught us. Broken trend turning to support want to see if we break back above 7.50 $EXAS - Over sold RSI and potential bottom bounce setup with nice inverted hammer candle. $SM - Returning once against to a solid trend line support. LF a reversal off this trend. $GRAM - Nice whip saw action towards 8.00 to clear stops, decent volume , and ready to head higher.
Submitted October 30, 2016 at 07:23PM by EatSleepTrade http://ift.tt/2fkSGjs
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