TNA bottomed at 103.77, so bears did a great job providing a very clean count. For today, should the market advance above 106.97 we can consider bottom is in; 111.22 should be established as reasonable probable target for TNA with potential extensions to 114, chart here (link). So, once again market has made things easier, lowering a potential entry to 106.98 instead of chasing a breakout above 109.18.
STOCKS
CMA, still above ideal entry
EXTN still above ideal entry
ENVA, very interesting with this retest of 1% extension
WAC, still we need more price action
TCS: Above 8.34 should confirm uptrend
TCF: Still holding above supports, (link)
JOUT, set alerts at 45.34 to confirm continuation, would not touch it for the moment
BPOP, holding above 43.06 support (link)
CCBG, above 23.15 start to confirm out 28 target
ATW: Above 15.03 trend resumes
Previous Update: TNA on Friday left a nice setup for a pullback to 105.63 and potentially, if bears have some luck into 103.53, fibonaccis here (link). We would like to point out though, that even we have a projection for 103.53 this is not a recommendation to short but to watch for buying opportunities with proper stops. Additionally a test of 101.10 area with strong reversal above 103.53 it is a serious signal that market is ready to extend to new highs. We should not short TNA with conviction here and we should pay serious attention to what the price does at 101, if that level is seen.
