In this week’s video we look at how the S&P 500 has been stuck at the 140 area for most of the week. Volume has been extremely light all week making SPY watching a yawnfest. TLT bonds had a nice hammer reversal off a pretty strong support area on Thursday and got a little follow through today but still no definitive action on it. If TLT were to rally, this would put some selling pressure on stocks but until volume picks up it’s more of a day trader’s market.
Also in the video, we take a look at some trade setups and similar patterns between a few stocks including Priceline (PCLN), Netflix (NFLX), Lululemon (LULU), and Starbucks (SBUX). LULU got a nice pop Friday and was pointed out in our trading service’s video post Thursday night. We are also tracking a play in SBUX for next week based off our proprietary swing trading methods but we are staying patient until the patterns and setups present themselves.
Below You May Find The Video.