Trader Mike's Notes
Tesla had its second bounce in 4 days off of the psychologically important 1,000 level. It's a bit oversold in the intermediate term, so it could certainly bounce a bit. I'm more concerned about if it can climb back above the 1,100 level. My guess is that it will make a lower high, roll over and try to fill that gap at 900. Time will tell & I have no position for now.
Small caps are trying to participate in the bullish fun the larger caps have been having. This had an Expansion Breakout yesterday and made a new 52-week (and all-time) high today. You can also see broadening participation (better breadth) in the % of stocks above their 50 day moving averages.
No bullish signals fired for this but it looks to me like it's ready for another run at $400. (Full disclosure: I own this in my IRA but I'm planning on putting in a buy order for it in my trading account)
Another good looking Hot IPO Pullback. Depending on where the stop loss is placed this could give a 5-to-1 reward-to-risk ration if it can get back to the all-time high.
Looking like a textbook Hot IPO Pullback. Let's see if it triggers an entry.