Afternoon Ideas For You

Two 1,2,3s
provided nice short entries on the SPX today, and now we’re trading in the
vicinity of the .618 retracement of yesterday’s rally.

 

 

Electronic Arts
(
ERTS |
Quote |
Chart |
News |
PowerRating)
reported Q3 earnings that were up 89% and at
press time it was breaking out of a 1,2,3 pattern.

Autozone
(
AZO |
Quote |
Chart |
News |
PowerRating)
gapped higher and has pulled back from its highs, now
trading near its .786 retracement. Look for a setup here later, maybe another
1,2,3…the first two have worked…

Estee Lauder
(
EL |
Quote |
Chart |
News |
PowerRating)
is trading in a Slim
Jim
after pulling back from its highs. Another one to watch.

 

King Pharmaceuticals
(
KG |
Quote |
Chart |
News |
PowerRating)
is staging a countertrend rally and may try to
re-test its lows.

If you’re not 100% familiar with how to trade 1,2,3 setups and Slim Jims, I
would encourage you to study up on them…they can really help your trading. You
can find out more about them here.

Have a good afternoon,

Brice