Trader Mike's Notes
Just one of many huge "under the radar" (of most people) gainers today. I encourage you to run the "Expansion Breakout" and/or "Percentage Gainers" scan today and see some of the charts. There's a ton of strength in this market right now. check out Z, ACIA, TTD, OLED, IQ, ROKU, etc.
A bad earnings reaction earlier this week but it looks like $110 and/or the 20 DMA are becoming support.
A huge breakout today to about a 10-year high. Many thought this company was dead after smartphones and smart watches came on the scene but they've mounted an impressive comeback. Not my style to chase it here, above the upper Bollinger Band but it's going on a watchlist.
A major breakout on this today as it closed at a new all-time high on 6x normal volume. Not sure I'd chase it here but it's definitely going (back) on one of my watchlists.
You'll definitely want to pay attention to the 50-day moving averages for the major indices over the next couple of days. SPY, DIA, QQQ and VTI (The Wilshire 5,000 ETF) fell below and then rebounded back over their 50 DMAs today. Bulls will *really* want those important levels to hold. If they break it could get ugly again real quick.
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