Push Pull Continues

Tech continues to be strong whereas other sectors look vulnerable to break lower. The tug of war continues. Staying focused on 2-3 names max, liquid, and taking partials on any trades make. When in doubt, sit out type of market to me.

IWM- 170 level a key tell for me. If bulls can push back above it with authority think a chance tech stuff can push higher. If we break down through it going to be tough to make money long stocks

QQQ-Inside day and holding 5 day. Positive action tmrw would set the weekly nicely. Struggling to take out this resistance as many names are extended. If we broke lower still plenty of moving averages to support and allow some extended names time to build better patterns. 306 yest low a key level to hold short term. 309 and 313.68 weekly levels.

AAPL/MSFT make up 25% of the QQQ so if they hold higher I do not think going to break this market. They are doing nothing wrong as of now. Key tells for me.

AAPL-Above 157.50ish area and holding this breakout. If lost that level there is potential for a false breakout move but lots of support via moving averages.

MSFT-Strong action today has had very little give back and continues to hold the 5 day.

TSLA 195 MIN-Tested the 5 EMA on the lows. 10/20EMA at 188. Chopping around between these two gaps. Whatever gap breaks defines the next move to me. Think it either pushes off this spot to build another higher low or it drops the moving averages/gap. Will watch it intra-day either direction.

AMZN-Held the Gap/10EMA/50SMA the last hour. If can push off here will watch intra for an entry. If lost today’s low no interest in it.

NFLX-Wedge Pop on volume via a Kicker Candle. Keeping on watch list and have it on a buy signal now. NFLX led the January up move and trended down during the correction. Is this meaningful if turning back up?

GLD-Broke out of the flag pattern. Not involved but looks good.

TLT-Continues to set this flag under the 200SMA. When this turned up today the market sold off. If broke out will see how the market reacts to that. Seems like lower yields/high bonds is a negative for the market currently.

Some examples of some other sectors. Have some alerts on these and others set as tells. If they break lower a sign of risk off. Not trading them but if see all the alerts will take note/be cautious.

XHB-Homebuilders

XLF-Financials

KRE-Regional Banks

XRT-Retail

JETS-Airlines