The market was painfully slow today. I felt like it was just plain out flat lining after 12. There was a couple good entry points but mainly but everything felt pretty range bound in general as financials stayed weak causing the broad market to stagnate. LO worked out as it had some big sweeping rallies to past break even on the day before closing a bit lower. ESLR had a good entry point at 8.75 as it trended up on its 20 minute moving average. It eventually got up to 8.84 before stalling out and coming off hard. The XLF had a nice retest of 20.61 and bounced strongly off the level to get up to a close at 20.87.
I'm not sure you can read a ton into today's action. It never went anywhere. Highs were sold, lows were bought. That may have been caution before the weekend. It could be interpreted as broad market strength against financials that were down most of the day. It could be interpreted as a negative that the market didn't react more positively to the oil drop and strong durable goods number. I'm leaning to the latter but I'm going to wait until next week to see what happens before making any bets on it.
Oil and natural gas are still acting terrible. The trend is down until it proves otherwise.
BNI - 3 days down buy on the next day open could be a decent trade. It's now down 2 in a row.
CRM - At the 200 sma might be a good entry point
OSTK - Showed first signs of weakness after rallying hard off a capitulation low, keep an eye as a short
MA - It's holding up and reporting earnings this week. It could continue to show strength leading into earnings.
ESLR - It's still worth watching for good entries in anticipation of the big gap up.
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