We didn’t make any new trade recommendations yesterday because of the mixed/weak markets; however, we built a nice watch list, waiting further information (see yesterday’s Chart of the Week).
Today all major market index ETFs have bullish gaps but DIA, SPY, QQQ to resistance, and IWM lagging.
NEW TRADE IDEAS
Because of the market gap, don’t chase anything, wait to pull back if gaps.
7/12: PEP – Consider buying stock over $113.00. Bullish 1-2-3 Continuation following Pro Gap on +Vol. daily. Initial stop wide at $109.67.
7/12: MA – Consider buying stock over $204.15. Bullish engulfing +WRB Breakout above r20-MA after Breakdown Failure daily, breakout weekly. Stop $197.47.
7/2: HUYA (WATCH ITEM) – Bullish engulfing Breakout from consolidation, price void above. Stop Loss $30.28.
