Market still making higher lows and looking to break the recent high, Strength in Quality stocks and Leaders helping the move in the market, patience and money management is important in this business.. In any case we haven’t changed our outlook, and here is an update on some of the instruments that we have in our portfolios that we support.
AMZN; Still have room to see higher targets of 1771 and pushing the limits a bit; 1787. Notice: we are using moon phases.
NFLX, reports next week (see chart below). Being conservative and emphasizing the word conservative, ideally should see 444 and we must be out at that level.
FB should go for 208/209 (See Chart Below); some aggressive extensions to 212 are probable.
GOOGL: M-line at 1090 for support check the monthly chart
we will move minimum-immediate target for $GOOGL to 1280
and we will focus on 1509.41 for the completion of two counts: One on OPL where this 1509 area is 4.236 retrace and the other is what I present here where is 2.618 retrace on AltC layout.
Oil/USO: Holding the Wolverine line (shown in chart below), but looking more like the completion of the 5th of C at 1.382 retrace. Needs below 13 to confirm that will test buyable supports at 11.96, we know how oil behaves so until highs are cleared a deep pullback is possible, support starts at 11.96 and ends at 9.5.
AMZN and GOOGL stochastics still have room for higher, while NFLX is already at the highs, and any gap up, will be sold very soon if not immediately.
Check our last report from one of our portfolio (LINK)
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