Top Five for March 27

As we wrap up this volatile week, the market has definitely shifted to risk-off mode. The S&P stabilized today above 2050 and the next battleground level will likely be 2040. Should this support fail, the S&P is very likely to head toward 2000 and its 200dma.

As in every correction, now is the time to be defensive, reduce long exposure, increase cash, and even look for shorts.

Here are the top five setups I will be watching tomorrow.


BIIB - Ugly daily chart and pretty much a straight down 60 point drop over the course of a week, it now seems ready for an oversold bounce toward 450

DIN (SHORT) - In the process of rolling over, should the 104-105 area fail it's going toward 95 and possibly lower

MERC - A rare example of a stock consolidating well under these market conditions and maintaining strong relative strength, now needs to push through 14.80-14.90

PZZA (SHORT) - Toppy chart with a possible head and shoulders pattern, should 60 fail, measured move would be to 55

SNCR - Working on the right side of a constructive base, now needs a push through 47-47.50

Posted to Tactical Alpha on Mar 26, 2015 — 7:03 PM

Recent free content from Noanet Trader

Comments ({[comments.length]})
Sort By:
Loading Comments
No comments. Break the ice and be the first!
Error loading comments Click here to retry
No comments found matching this filter
Want to add a comment? Take me to the new comment box!