Another day and another dead stop at strong resistance. The S&P screeched to a halt at the 10% correction level at 2,637. The news generated spike at 2:30 hit 2,645 but the hang time was measured in seconds. The dip buyers are alive and well and so far there has not been enough earnings misses to discourage the bulls. Netflix fell $13 in afterhours but that should not be enough to tank the market on Friday. The focus is on trade and positive comments about tariffs.
Stop Loss Updates
Check the graphic below for any new stop losses in bright yellow.
We need to always be prepared for an unexpected decline.
Check the graphic below for any profit stops in green.
We need to always be prepared for a profit exit at resistance.
Current Position Changes
MDT - Medtronic
The long position was entered at the open.
Full updates on all plays on Wednesday and Saturday. Only closed plays are updated on other days.
BULLISH Play Updates
No Updates to Current Positions
BEARISH Play Updates
No Current Puts