I’ve been focused on AMZN this week, in a pattern I thought was ready to break down. After getting through “Alexa Day” the selling became more relevant. Let’s review this trade, our UBFly in SHOP, and everything else that’s been a part of my portfolio.
Waiting for Directional Bias is the key, and keeping exhaustion levels using the VWAP on the charts automates your zones. Keeping it simple…
Support in gold and bonds are holding, resistance in the indices are in place, and energies are selling off. The end of the month could be good for the risk-off and equity bears.
Nike was rewarded for its most recent earnings report, and while I don’t think I want to buy shares on the breakout, the idea of shorting some premium gives us several (I think better) options.
We open tonight’s review with some ThinkOrSwim charting tips and a basic review of several of our positions. Most are cooperating, some may need a little more time but still have great setups. Let’s take a look.
