Afternoon Everyone! Seems as though the $RUT is in a consolidation within the intraday bounds of 559 and 560. Very tight and very boring, with the $TRIN flat above 1.20 and the VIX chopping like Chef Ramsey making salad. In the event of an EOD market reversal where the $RUT takes weekend longs (myself) out to dry, I will be watching the 555 level to hold up strong.
As for now, let's take a look at five of my favorite tickers for the day that could develop into something gorgeous next week. Below are charts with a tiny analysis bit for each ticker:
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URRE 9 Month, Daily
Imminent B/O out on the way w/ volume accumulation - Keep your eye on the 100d SMA and the 1.00 support.
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TSTR 9 Month, Daily
Another imminent B/O on more volume accumulation - Watch for the 5d SMA to cross above the 10d SMA for a big momentum swing confirmation.
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SOLF 9 Month, Daily
Holding the 50d SMA to a "T" as well as the 6.93 price support - If this hold continues and solar pops, SOLF's first resistance is 7.50.
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SAY 9 Month, Daily
Up against the 200d SMA and the 5.49 price resistance - IF AND ONLY IF the 200d SMA is broken will this ticker explode (Target @ 7.00)
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DPTR 9 Month, Daily
Slow developing, long term descending triangle - Watch the 5d SMA cross above the 10d SMA for a momentum spike.
These names, if their price patterns hold and they develop fully into what their trend is currently showing, these five can be prosperous. Be light with your position sizes if you're considering to add them and hold them into the weekend - Remember, I am always more risky than my advice, hence why I'm taking TSTR and URRE into the weekend with me.
Stay nimble on this Friday afternoon my friends!
ZM



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