Two Stocks For Today
After rallying this morning, the indices are pulling back The high on the
e-minis, thus far, was near the 1.5 volatility band of 926, and a little below
the R2 pivot of 930. Similarly with the Nasdaq: The high was just above the 2.0 vol band and just under the R2 pivot (1087). The TRIN has been bullish all
morning. What’s in store for this afternoon? We have red arrows down on the
market bias page, and while thus far today they haven’t given us direction, it’s
also possible that the intraday high is in. I’d be inclined to sell further
rallies on the indices this afternoon. We’ll see.
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PowerRating), mention by
Kevin Haggerty this morning, may rally at the 20-period
moving average.
Talbot’s
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PowerRating) hasn’t pulled back to speak of after gapping down this morning. The
company guided lower and said their monthly sales were down 9%.
Have a good afternoon.