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Stocks closed higher but breadth stayed bearish beneath the surface, with leadership rotating into Industrials, Materials and Energy as tech lagged. RPD and TSLA led momentum while SPY struggled under its SMA50; traders should stay defensive and watch IWM’s $277 line into tomorrow.
Key points
Indices look green but breadth is split, with bear 4% beating bull 4% by 200 to 133; action code is ABC.
Hold HPE, DDOG, LMT and TSLA into the bell; cut communication services (down 2.1%), JBLU and OMC.
LMT is a clean continuation candidate if it holds its intraday range; RPD is an aggressive option.
IWM sits at its 20-day SMA of 277.06; a hold targets 284.64, while a loss flips it back to the SMA 50 downtrend at 285.86.
If 20 SMA breadth turns up and SPY reclaims 767.59, the plan upgrades to selective long; until then keep risk tight.
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SPY in WaveFinder.
See HPE in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open HPE in WaveFinder.
See DDOG in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open DDOG in WaveFinder.
See LMT in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open LMT in WaveFinder.
See TSLA in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open TSLA in WaveFinder.
See JBLU in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open JBLU in WaveFinder.
See OMC in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open OMC in WaveFinder.
See RPD in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open RPD in WaveFinder.
See IWM in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open IWM in WaveFinder.