The markets posted solid gains to start the week off yesterday. While they closed off of their highs, it was a great continuation of the rally that began late last week and extended into this week, we are currently looking at the Elliote Wave Counts that we described in the following Video
Last week’s impressive employment numbers sent stocks soaring on Friday. And Apple’s continued rally on better than expected earnings and word that Warren Buffett bet heavily on Apple shares helped ignite a tech rally, we still think $AAPL has higher prices, look for today’s video will be sent out shortly. We think $AAPL could see prices beyond 220 dollars
Are we getting close to end the three month long correction in the stock market, if so we could be setup to break out of the wedge, we are trading it mechanically. On $SPX right now we completed 4/5 and right now we looking for wave 5 around 2684-2693. For another entry setup to get us to 2710, which would still give us another entry for higher prices, again wait for the the updated video and charts..
We took $ANET long positions and we have been trailing our longs
“Probability is not a mere computation of odds on the dice or more complicated variants; it is the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.”
“The consequences are not trivial: It means that rational thinking has little, very little, to do with risk avoidance. Much of what rational thinking seems to do is rationalize one’s actions by fitting some logic to them.”
Market News
| 1. | IEA statement on global oil market conditions (IEA.ORG) |
| The IEA stands ready to act if necessary to ensure markets remain well supplied | |
| 2. | Sears strikes a new deal with Amazon that brings tires to your house (CNBC.COM) |
| Sears will use its Auto Centers to help install car tires ordered on Amazon. | |
| 3. | dough on Twitter (TWITTER.COM) |
| “CS $ARNA Valuation—Reiterate Outperform Rating and $58 Target Price” | |
| 4. | Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books (AMAZON.COM) |
| Online shopping from the earth’s biggest selection of books, magazines, music, DVDs, videos, el | |
| 5. | Idera Pharmaceuticals Reports First Quarter 2018 Financial Results and (GLOBENEWSWIRE.COM) |
| EXTON, Pa., May 09, 2018 (GLOBE NEWSWIRE) — Idera Pharmaceuticals, Inc. (“Idera”) (NASDAQ: IDR | |
| 6. | Potbelly CEO says company explored a sale, Restaurant News reports (THEFLY.COM) |
| Potbelly CEO Alan Johnson said the struggling brand explored a potential sale during a strategi | |
| 7. | Dollar as `Wrecking Ball’ May Blot Out Iran’s Impact on Markets (BLOOMBERG.COM) |
| For all the diplomatic furor the U.S. created when it walked away from the Iran nuclear accord, | |
| 8. | Why Mark Zuckerberg just put some of his best execs on a new experimen (CNB.CX) |
| Facebook CEO Mark Zuckerberg is putting some heavy hitters on blockchain to make sure his compa | |
| 9. | EIA Oil Inventories as U.S. Pulls Out of Iran Deal (TRADERSCOMMUNITY.COM) |
| With U.S. Pulling Out of Iran Deal what do Oil Inventories mean? | |
| 10. | Stocks making the biggest moves premarket: WMT, COTY, WWW, ADT, PRTY, (CNBC.COM) |
| Some of the names on the move ahead of the open. | |
| 11. | DURECT Announces Amendment to Licensing Agreement with Sandoz Related (MARKETWATCH.COM) |
| CUPERTINO, Calif., May 9, 2018 /PRNewswire/ — DURECT Corporation DRRX, +0.56% today announced | |
| 14. | COLUMN-Sanctions spell the end of OPEC output deal: Kemp (REUTERS.COM) |
| (John Kemp is a Reuters market analyst. The views expressed are his own) | |
| 15. | Press Release :: Investors :: Adaptimmune (PHX.CORPORATE-IR.NET) |
| – Dosing patients in MAGE-A10 lung cancer study at one billion target cell dose – | |
| 16. | Adaptimmune Reports First Quarter 2018 Financial Results and Business (GLOBENEWSWIRE.COM) |
| – Dosing patients in MAGE-A10 lung cancer study at one billion target cell dose – | |
| 17. | Walmart Agrees to Buy 77% Stake in Flipkart for $16 Billion (WSJ.COM) |
| Walmart agreed to take control of India’s largest e-commerce company, Flipkart Group, for $16 b | |
| 18. | Walmart agrees $16 billion deal to buy a majority stake in India’s Fli (CNBC.COM) |
| Walmart said on Wednesday that it would acquire an initial stake of roughly 77 percent in Flipk | |
| 29. | 10 Stocks To Watch For May 9, 2018 (BENZINGA.COM) |
| Some of the stocks that may grab investor focus today are: Wall Street expects Booking Holdings | |
| 20. | Volvo’s native Google integration is the next level for Android Auto (THEVERGE.COM) |
| We took a spin with Volvo’s new infotainment system that is based on Android P, bringing driver |
See you in the Chat Room..
Seeking Options Team
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